Navitas Semiconductor (NASDAQ:NVTS) Sees Strong Trading Volume – What’s Next?

Navitas Semiconductor Co. (NASDAQ:NVTS) shares saw unusually-strong trading volume on Friday . Approximately 3,315,112 shares were traded during trading, an increase of 15% from the previous session’s volume of 2,891,169 shares.The stock last traded at $3.95 and had previously closed at $3.77.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NVTS shares. Craig Hallum dropped their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Robert W. Baird lowered their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4.75.

Navitas Semiconductor Trading Up 5.0 %

The firm has a market cap of $739.71 million, a P/E ratio of -9.95 and a beta of 2.37. The business has a 50-day moving average of $2.45 and a two-hundred day moving average of $3.16.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The firm had revenue of $21.68 million during the quarter, compared to analysts’ expectations of $21.93 million. During the same period in the prior year, the company posted ($0.10) EPS. The company’s revenue was down 1.4% on a year-over-year basis. As a group, equities analysts expect that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of NVTS. M&T Bank Corp increased its holdings in shares of Navitas Semiconductor by 29.6% during the third quarter. M&T Bank Corp now owns 159,804 shares of the company’s stock valued at $392,000 after acquiring an additional 36,504 shares in the last quarter. State Street Corp boosted its position in shares of Navitas Semiconductor by 4.0% during the third quarter. State Street Corp now owns 5,826,638 shares of the company’s stock valued at $14,275,000 after buying an additional 221,575 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Navitas Semiconductor in the 3rd quarter valued at $172,000. Point72 Asset Management L.P. boosted its holdings in Navitas Semiconductor by 87.5% during the third quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock worth $19,677,000 after purchasing an additional 3,748,124 shares during the last quarter. Finally, Centiva Capital LP bought a new stake in Navitas Semiconductor in the 3rd quarter worth about $195,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

About Navitas Semiconductor

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.