Traders Purchase High Volume of Call Options on Navitas Semiconductor (NASDAQ:NVTS)

Navitas Semiconductor Co. (NASDAQ:NVTS) was the target of some unusual options trading activity on Thursday. Investors purchased 28,689 call options on the company. This is an increase of 1,333% compared to the average volume of 2,002 call options.

Analyst Upgrades and Downgrades

NVTS has been the topic of a number of recent analyst reports. Robert W. Baird decreased their price objective on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Needham & Company LLC decreased their target price on shares of Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley cut shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $2.10 to $1.50 in a research note on Monday, April 7th. Finally, Rosenblatt Securities boosted their target price on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Navitas Semiconductor presently has an average rating of “Moderate Buy” and an average price target of $3.79.

Insider Activity at Navitas Semiconductor

In related news, CFO Todd Glickman sold 13,644 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total value of $35,337.96. Following the transaction, the chief financial officer now directly owns 684,497 shares of the company’s stock, valued at $1,772,847.23. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Moxam sold 75,000 shares of Navitas Semiconductor stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $2.08, for a total transaction of $156,000.00. Following the completion of the transaction, the director now directly owns 792,848 shares in the company, valued at $1,649,123.84. This trade represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,877 shares of company stock valued at $349,262 over the last three months. 31.80% of the stock is owned by insiders.

Institutional Trading of Navitas Semiconductor

A number of institutional investors have recently bought and sold shares of NVTS. Simplicity Wealth LLC bought a new stake in Navitas Semiconductor during the first quarter valued at $26,000. Larson Financial Group LLC acquired a new position in shares of Navitas Semiconductor during the first quarter valued at about $28,000. Benjamin Edwards Inc. acquired a new position in shares of Navitas Semiconductor during the first quarter valued at about $31,000. Goodman Financial Corp acquired a new position in shares of Navitas Semiconductor during the fourth quarter valued at about $36,000. Finally, Caption Management LLC acquired a new position in shares of Navitas Semiconductor during the fourth quarter valued at about $36,000. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Down 12.7%

Shares of Navitas Semiconductor stock opened at $4.41 on Friday. Navitas Semiconductor has a twelve month low of $1.52 and a twelve month high of $5.25. The stock has a market cap of $845.87 million, a price-to-earnings ratio of -10.50 and a beta of 2.24. The company’s fifty day moving average is $2.06 and its 200 day moving average is $2.67.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $14.02 million for the quarter, compared to analysts’ expectations of $14.01 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. Navitas Semiconductor’s revenue for the quarter was down 39.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. As a group, equities analysts anticipate that Navitas Semiconductor will post -0.51 earnings per share for the current fiscal year.

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.