Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Up – Should You Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $2.96, but opened at $3.12. Navitas Semiconductor shares last traded at $3.13, with a volume of 1,105,396 shares.

Analysts Set New Price Targets

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

Navitas Semiconductor Price Performance

The stock has a 50-day simple moving average of $3.11 and a 200-day simple moving average of $3.06. The stock has a market cap of $653.80 million, a PE ratio of -8.33 and a beta of 2.23.

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

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $4.54, for a total transaction of $181,600.00. Following the sale, the director now owns 316,709 shares in the company, valued at $1,437,858.86. This represents a 11.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 31.80% of the stock is currently owned by insiders.

Institutional Trading of Navitas Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the company. DRW Securities LLC acquired a new stake in Navitas Semiconductor during the second quarter valued at approximately $46,000. Algert Global LLC bought a new position in Navitas Semiconductor in the 2nd quarter worth approximately $50,000. Benjamin Edwards Inc. bought a new position in Navitas Semiconductor in the 3rd quarter worth approximately $36,000. Bleakley Financial Group LLC bought a new position in Navitas Semiconductor in the 3rd quarter worth approximately $41,000. Finally, GSA Capital Partners LLP bought a new position in Navitas Semiconductor in the 3rd quarter worth approximately $44,000. 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.