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

Navitas Semiconductor Co. (NASDAQ:NVTS)’s stock price gapped up prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

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

Navitas Semiconductor Stock Performance

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

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $21.93 million. During the same quarter in the prior year, the company earned ($0.10) EPS. Navitas Semiconductor’s revenue was down 1.4% on a year-over-year basis. On average, research analysts anticipate that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Insider Buying and Selling

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of the stock in a transaction dated 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 owns 316,709 shares of the company’s stock, valued at $1,437,858.86. This trade represents a 11.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds have recently bought and sold shares of the stock. State Street Corp raised its position in Navitas Semiconductor by 4.0% in the 3rd quarter. State Street Corp now owns 5,826,638 shares of the company’s stock valued at $14,275,000 after purchasing an additional 221,575 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Navitas Semiconductor by 2,656.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock worth $16,834,000 after buying an additional 4,127,940 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Navitas Semiconductor during the 2nd quarter worth approximately $2,364,000. Mirabella Financial Services LLP purchased a new position in Navitas Semiconductor during the 3rd quarter worth approximately $943,000. Finally, Masters Capital Management LLC grew its stake in Navitas Semiconductor by 90.0% during the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $7,467,000 after buying an additional 900,000 shares during the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.