Navitas Semiconductor (NASDAQ:NVTS) Trading Up 17.1% – Should You Buy?

Navitas Semiconductor Co. (NASDAQ:NVTS) shares were up 17.1% on Tuesday . The stock traded as high as $3.60 and last traded at $3.51. Approximately 2,327,277 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 3,929,475 shares. The stock had previously closed at $3.00.

Wall Street Analyst Weigh In

NVTS has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Robert W. Baird dropped 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. Finally, Craig Hallum dropped their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Navitas Semiconductor has an average rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Stock Up 11.0 %

The stock has a market capitalization of $622.04 million, a PE ratio of -7.93 and a beta of 2.20. The stock’s 50 day moving average price is $3.37 and its 200-day moving average price is $2.89.

Insider Activity

In related news, Director Richard J. Hendrix sold 80,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were 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 of the company’s stock, valued at $1,441,104.36. This represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

A number of hedge funds have recently added to or reduced their stakes in NVTS. Benjamin Edwards Inc. purchased a new stake in Navitas Semiconductor in the third quarter worth about $36,000. Goodman Financial Corp bought a new position in Navitas Semiconductor in the fourth quarter worth about $36,000. Caption Management LLC bought a new position in Navitas Semiconductor in the fourth quarter worth about $36,000. Tower Research Capital LLC TRC raised its holdings in Navitas Semiconductor by 125.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock worth $37,000 after purchasing an additional 5,726 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC bought a new position in Navitas Semiconductor in the fourth quarter worth about $39,000. 46.14% of the stock is owned by hedge funds and other 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.