Navitas Semiconductor (NASDAQ:NVTS) Sees Large Volume Increase – Time to Buy?

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) saw unusually-strong trading volume on Monday . Approximately 4,726,098 shares were traded during mid-day trading, an increase of 45% from the previous session’s volume of 3,249,466 shares.The stock last traded at $3.71 and had previously closed at $3.17.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NVTS. Deutsche Bank Aktiengesellschaft lowered their target price on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Robert W. Baird dropped their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $7.50 price target on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Finally, Craig Hallum cut their price target on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Price Performance

The company has a market capitalization of $728.50 million, a price-to-earnings ratio of -9.29 and a beta of 2.37. The stock has a 50-day moving average price of $2.70 and a 200-day moving average price of $3.13.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 return on equity of 23.64% and a negative net margin of 84.61%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) EPS. Equities analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $4.04, for a total value of $323,200.00. Following the sale, the director now owns 356,709 shares in the company, valued at $1,441,104.36. This trade represents a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 31.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Navitas Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of NVTS. Point72 Asset Management L.P. raised its position in shares of Navitas Semiconductor by 87.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock worth $19,677,000 after acquiring an additional 3,748,124 shares in the last quarter. State Street Corp grew 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 during the period. ArrowMark Colorado Holdings LLC increased its stake in Navitas Semiconductor by 31.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock valued at $8,713,000 after purchasing an additional 845,664 shares in the last quarter. Masters Capital Management LLC boosted 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 valued at $7,467,000 after purchasing an additional 900,000 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Navitas Semiconductor in the second quarter valued at approximately $2,364,000. Institutional investors own 46.14% of the company’s stock.

About Navitas Semiconductor

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.