Navitas Semiconductor (NASDAQ:NVTS) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) saw unusually-high trading volume on Friday . Approximately 1,950,823 shares changed hands during mid-day trading, a decline of 37% from the previous session’s volume of 3,110,230 shares.The stock last traded at $3.58 and had previously closed at $3.60.

Wall Street Analyst Weigh In

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

Navitas Semiconductor Price Performance

The business has a 50-day moving average of $2.61 and a 200 day moving average of $3.17.

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

Insider Activity

In related news, Director Richard J. Hendrix sold 80,000 shares of the firm’s 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 directly 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 Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. grew its holdings in Navitas Semiconductor by 87.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock valued at $19,677,000 after purchasing an additional 3,748,124 shares during the last quarter. State Street Corp raised its holdings in shares of Navitas Semiconductor by 4.0% in the third quarter. State Street Corp now owns 5,826,638 shares of the company’s stock worth $14,275,000 after buying an additional 221,575 shares during the period. ArrowMark Colorado Holdings LLC lifted its stake in shares of Navitas Semiconductor by 31.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock worth $8,713,000 after acquiring an additional 845,664 shares during the last quarter. Masters Capital Management LLC boosted its holdings 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 acquiring an additional 900,000 shares during the period. Finally, Squarepoint Ops LLC bought a new position in Navitas Semiconductor in the 2nd quarter valued at $2,364,000. Hedge funds and other 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.