Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Up – Here’s What Happened

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares gapped up before the market opened on Wednesday . The stock had previously closed at $25.86, but opened at $30.65. Navitas Semiconductor shares last traded at $31.82, with a volume of 36,691,134 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NVTS. Morgan Stanley restated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Rosenblatt Securities increased their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Needham & Company LLC lifted their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.87.

Navitas Semiconductor Stock Up 24.2%

The business’s 50 day simple moving average is $16.12 and its two-hundred day simple moving average is $11.38. The stock has a market capitalization of $7.50 billion, a P/E ratio of -50.97 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $8.60 million for the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The company’s revenue for the quarter was down 38.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) earnings per share. Analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, CFO Todd Glickman sold 98,152 shares of Navitas Semiconductor stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the transaction, the chief financial officer owned 735,231 shares of the company’s stock, valued at $7,925,790.18. This trade represents a 11.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ranbir Singh sold 664,058 shares of Navitas Semiconductor stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.72, for a total value of $19,071,745.76. Following the sale, the director owned 14,943,475 shares in the company, valued at $429,176,602. This trade represents a 4.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,087,630 shares of company stock worth $117,414,466. Company insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NVTS. Allworth Financial LP boosted its holdings in Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after buying an additional 2,698 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after acquiring an additional 2,942 shares in the last quarter. GAMMA Investing LLC raised its stake in Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after purchasing an additional 2,548 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after buying an additional 4,000 shares in the last quarter. Finally, State of Wyoming lifted its stake in Navitas Semiconductor by 92.8% during the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after purchasing an additional 2,312 shares during the last quarter. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

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.