Navitas Semiconductor (NASDAQ:NVTS) Trading Up 13.8% – Should You Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS) shares were up 13.8% during mid-day trading on Friday . The company traded as high as $2.89 and last traded at $2.80. Approximately 3,588,641 shares were traded during trading, an increase of 30% from the average daily volume of 2,755,140 shares. The stock had previously closed at $2.46.

Analysts Set New Price Targets

NVTS has been the topic of several analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a report on Thursday, October 31st. Robert W. Baird decreased 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 report on Tuesday, November 5th. Needham & Company LLC lowered their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut 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 report on Tuesday, November 5th. Finally, 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.75.

Navitas Semiconductor Price Performance

The stock has a market cap of $513.70 million, a price-to-earnings ratio of -6.55 and a beta of 2.36. The firm’s fifty day moving average price is $2.37 and its two-hundred day moving average price is $3.18.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $21.93 million. During the same period in the prior year, the business earned ($0.10) EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Hedge Funds Weigh In On Navitas Semiconductor

Large investors have recently modified their holdings of the company. DRW Securities LLC acquired a new position in Navitas Semiconductor during the second quarter worth $46,000. Wedbush Securities Inc. bought a new stake in shares of Navitas Semiconductor during the second quarter worth about $49,000. Algert Global LLC acquired a new stake in shares of Navitas Semiconductor in the 2nd quarter worth about $50,000. Benjamin Edwards Inc. bought a new position in Navitas Semiconductor in the 3rd quarter valued at about $36,000. Finally, Bleakley Financial Group LLC acquired a new position in Navitas Semiconductor during the 3rd quarter valued at about $41,000. 46.14% of the stock is currently owned by institutional investors.

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.