Navitas Semiconductor (NASDAQ:NVTS) Shares Up 6.4% – Still a Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS)’s stock price was up 6.4% on Friday . The stock traded as high as $3.22 and last traded at $3.23. Approximately 540,372 shares were traded during trading, a decline of 87% from the average daily volume of 4,318,771 shares. The stock had previously closed at $3.03.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Rosenblatt Securities restated a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Craig Hallum dropped their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Robert W. Baird cut their price objective 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Trading Up 4.2 %

The stock has a market capitalization of $589.54 million, a P/E ratio of -7.61 and a beta of 2.23. The firm’s fifty day moving average is $3.40 and its 200-day moving average is $2.99.

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

Insiders Place Their Bets

In related news, Director Richard J. Hendrix sold 40,000 shares of the 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 of the company’s stock, 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 the SEC website. Insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NVTS. Algert Global LLC acquired a new stake in Navitas Semiconductor during the second quarter worth approximately $50,000. Signature Wealth Management Partners LLC acquired a new stake in shares of Navitas Semiconductor in the 4th quarter worth about $51,000. Benjamin Edwards Inc. acquired a new position in Navitas Semiconductor during the 3rd quarter valued at about $36,000. Bleakley Financial Group LLC purchased a new position in shares of Navitas Semiconductor during the third quarter valued at approximately $41,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Navitas Semiconductor in the 3rd quarter worth $44,000. 46.14% of the stock is currently owned by institutional investors.

Navitas Semiconductor Company Profile

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.