Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) shares shot up 14.2% during trading on Wednesday . The stock traded as high as $3.53 and last traded at $3.53. 1,372,519 shares traded hands during trading, a decline of 74% from the average session volume of 5,184,821 shares. The stock had previously closed at $3.09.
Analyst Ratings Changes
Several research analysts have recently issued reports on NVTS shares. Craig Hallum lowered their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Robert W. Baird lowered their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $7.50 target price on shares of Navitas Semiconductor in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Navitas Semiconductor has an average rating of "Moderate Buy" and a consensus target price of $4.75.
Read Our Latest Report on Navitas Semiconductor
Navitas Semiconductor Trading Up 13.9 %
The company has a 50 day simple moving average of $3.11 and a 200 day simple moving average of $3.06. The stock has a market capitalization of $657.52 million, a PE ratio of -8.38 and a beta of 2.23.
Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The firm 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 firm's revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.10) EPS. On average, equities research analysts predict that Navitas Semiconductor Co. will post -0.51 EPS for the current year.
Insider Buying and Selling
In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the transaction, the director now directly owns 316,709 shares in the company, valued at approximately $1,437,858.86. This represents a 11.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 31.80% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Navitas Semiconductor
Institutional investors and hedge funds have recently modified their holdings of the company. DRW Securities LLC acquired a new stake in Navitas Semiconductor in the second quarter valued at $46,000. Algert Global LLC purchased a new position in shares of Navitas Semiconductor in the second quarter valued at $50,000. Benjamin Edwards Inc. purchased a new position in shares of Navitas Semiconductor in the third quarter valued at $36,000. Bleakley Financial Group LLC purchased a new position in shares of Navitas Semiconductor in the third quarter valued at $41,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Navitas Semiconductor in the third quarter valued at $44,000. Institutional investors and hedge funds own 46.14% of the company's stock.
Navitas Semiconductor Company Profile
(
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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.
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