Navitas Semiconductor (NASDAQ:NVTS) Shares Up 6.4% – Should You Buy?

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. 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 dropped 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. Rosenblatt Securities restated a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Finally, Craig Hallum lowered their price target on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company 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 cap of $589.54 million, a P/E ratio of -7.61 and a beta of 2.23. The company’s 50-day simple moving average is $3.40 and its 200 day simple 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, meeting analysts’ consensus estimates of ($0.06). The firm had revenue of $21.68 million during the quarter, compared to the consensus estimate of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.10) EPS. Research analysts anticipate that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard J. Hendrix sold 40,000 shares of Navitas Semiconductor stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $4.54, for a total value of $181,600.00. Following the sale, the director now directly owns 316,709 shares in the company, valued at approximately $1,437,858.86. This trade represents a 11.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NVTS. Signature Wealth Management Partners LLC purchased a new stake in shares of Navitas Semiconductor during the 4th quarter valued at about $51,000. Wesbanco Bank Inc. bought a new position in Navitas Semiconductor in the fourth quarter worth approximately $357,000. SG Americas Securities LLC boosted its stake in shares of Navitas Semiconductor by 81.7% during the 4th quarter. SG Americas Securities LLC now owns 98,601 shares of the company’s stock worth $352,000 after acquiring an additional 44,340 shares during the last quarter. 180 Wealth Advisors LLC grew its position in shares of Navitas Semiconductor by 15.3% during the 4th quarter. 180 Wealth Advisors LLC now owns 90,682 shares of the company’s stock valued at $324,000 after acquiring an additional 12,027 shares during the period. Finally, M&T Bank Corp increased its stake in shares of Navitas Semiconductor by 29.6% in the 3rd quarter. M&T Bank Corp now owns 159,804 shares of the company’s stock worth $392,000 after purchasing an additional 36,504 shares in the last quarter. 46.14% of the stock is owned by hedge funds and other 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.