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

Navitas Semiconductor Co. (NASDAQ:NVTS) shares gapped up before the market opened on Tuesday . The stock had previously closed at $3.86, but opened at $4.12. Navitas Semiconductor shares last traded at $4.02, with a volume of 3,705,998 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Rosenblatt Securities restated a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a research report on Thursday, October 31st. 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 report on Tuesday, November 5th. Craig Hallum reduced their target price on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Robert W. Baird dropped their price target 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 MarketBeat.com, Navitas Semiconductor has an average rating of “Moderate Buy” and an average price target of $4.75.

Navitas Semiconductor Stock Performance

The stock has a market capitalization of $743.45 million, a PE ratio of -9.48 and a beta of 2.37. The stock’s 50-day moving average price is $2.76 and its two-hundred day moving average price is $3.12.

Navitas Semiconductor (NASDAQ:NVTS) last announced 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 business 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 business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.10) earnings per share. On average, analysts predict that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 80,000 shares of Navitas Semiconductor stock in a transaction on Friday, December 6th. The stock was sold at an average price of $4.04, for a total value of $323,200.00. Following the completion of the sale, the director now owns 356,709 shares of the company’s stock, valued at approximately $1,441,104.36. This trade represents a 18.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 31.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Large investors have recently bought and sold shares of the business. Benjamin Edwards Inc. purchased a new stake in shares of Navitas Semiconductor during the 3rd quarter valued at about $36,000. Bleakley Financial Group LLC bought a new stake in Navitas Semiconductor in the 3rd quarter worth approximately $41,000. GSA Capital Partners LLP purchased a new stake in Navitas Semiconductor during the 3rd quarter valued at $44,000. DRW Securities LLC bought a new position in shares of Navitas Semiconductor during the 2nd quarter valued at $46,000. Finally, Wedbush Securities Inc. purchased a new position in shares of Navitas Semiconductor in the 2nd quarter worth $49,000. 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.