Navitas Semiconductor (NASDAQ:NVTS) Sees Unusually-High Trading Volume - Time to Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) saw an uptick in trading volume on Friday . 3,315,112 shares were traded during mid-day trading, an increase of 15% from the previous session's volume of 2,891,169 shares.The stock last traded at $3.95 and had previously closed at $3.77.

Analyst Upgrades and Downgrades

Several research firms have commented on NVTS. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. Robert W. Baird decreased their target price on shares of 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 restated 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 decreased their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $4.75.

Navitas Semiconductor Price Performance

The business's 50-day simple moving average is $2.48 and its 200-day simple moving average is $3.16. The stock has a market cap of $704.24 million, a PE ratio of -8.98 and a beta of 2.37.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $21.68 million for the quarter, compared to analysts' expectations of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The company's revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) EPS. As a group, equities research analysts anticipate that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 80,000 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 356,709 shares in the company, valued at $1,441,104.36. This represents a 18.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 31.80% of the company's stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp raised its position in Navitas Semiconductor by 29.6% during the third quarter. M&T Bank Corp now owns 159,804 shares of the company's stock valued at $392,000 after purchasing an additional 36,504 shares during the period. State Street Corp raised its holdings in Navitas Semiconductor by 4.0% during the 3rd quarter. State Street Corp now owns 5,826,638 shares of the company's stock valued at $14,275,000 after buying an additional 221,575 shares during the period. Quadrature Capital Ltd bought a new stake in Navitas Semiconductor in the third quarter worth $172,000. Point72 Asset Management L.P. boosted its stake in Navitas Semiconductor by 87.5% during the third quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company's stock worth $19,677,000 after buying an additional 3,748,124 shares during the period. Finally, Centiva Capital LP bought a new position in Navitas Semiconductor during the third quarter valued at $195,000. Hedge funds and other institutional investors 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.