Navitas Semiconductor (NASDAQ:NVTS) Reaches New 1-Year High – Here’s Why

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) reached a new 52-week high during trading on Monday . The stock traded as high as $21.48 and last traded at $21.7590, with a volume of 10306617 shares traded. The stock had previously closed at $18.20.

Analyst Ratings Changes

NVTS has been the subject of several research reports. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday. Needham & Company LLC raised their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Rosenblatt Securities raised their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Robert W. Baird raised their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.87.

Navitas Semiconductor Price Performance

The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of -30.56 and a beta of 3.62. The stock’s 50 day simple moving average is $11.74 and its 200-day simple moving average is $10.06.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company’s revenue was down 38.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) earnings per share. As a group, equities research analysts anticipate that Navitas Semiconductor Corporation will post -0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, CEO Chris Allexandre sold 9,236 shares of Navitas Semiconductor stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the completion of the sale, the chief executive officer directly owned 813,323 shares in the company, valued at $7,262,974.39. The trade was a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ranbir Singh sold 389,096 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $9.52, for a total transaction of $3,704,193.92. The SEC filing for this sale provides additional information. Insiders sold 509,016 shares of company stock worth $4,967,814 over the last ninety days. 29.90% of the stock is currently owned by insiders.

Institutional Trading of Navitas Semiconductor

A number of institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in shares of Navitas Semiconductor by 185.9% in the first quarter. PNC Financial Services Group Inc. now owns 12,218 shares of the company’s stock worth $107,000 after buying an additional 7,944 shares during the last quarter. KBC Group NV acquired a new stake in shares of Navitas Semiconductor in the first quarter worth $51,000. Independent Financial Group LLC acquired a new stake in shares of Navitas Semiconductor in the first quarter worth $130,000. Bank of New York Mellon Corp increased its position in Navitas Semiconductor by 21.8% during the first quarter. Bank of New York Mellon Corp now owns 566,465 shares of the company’s stock worth $4,968,000 after acquiring an additional 101,389 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in Navitas Semiconductor by 3,200.0% during the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after acquiring an additional 4,000 shares during the period. 46.14% of the stock is currently owned by institutional investors and hedge funds.

About Navitas Semiconductor

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.