Navitas Semiconductor Target of Unusually High Options Trading (NASDAQ:NVTS)

Navitas Semiconductor Corporation (NASDAQ:NVTS) was the target of unusually large options trading activity on Monday. Traders acquired 26,822 call options on the stock. This is an increase of 43% compared to the average daily volume of 18,808 call options.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NVTS shares. Morgan Stanley lowered shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $2.10 to $1.50 in a research report on Monday, April 7th. Robert W. Baird reduced their target price on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft lowered shares of Navitas Semiconductor from a “buy” rating to a “hold” rating and set a $3.50 target price on the stock. in a research report on Tuesday, June 17th. Needham & Company LLC cut their price objective on shares of Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Finally, Rosenblatt Securities lifted their price objective on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.71.

Insiders Place Their Bets

In other news, CFO Todd Glickman sold 532,342 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $4.49, for a total value of $2,390,215.58. Following the sale, the chief financial officer now directly owns 234,501 shares of the company’s stock, valued at $1,052,909.49. The trade was a 69.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Eugene Sheridan sold 2,155,783 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $4.49, for a total value of $9,679,465.67. The disclosure for this sale can be found here. Insiders sold 15,084,600 shares of company stock valued at $99,761,157 over the last three months. Insiders own 29.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NVTS. Bank of America Corp DE lifted its holdings in shares of Navitas Semiconductor by 180.5% during the 4th quarter. Bank of America Corp DE now owns 1,234,375 shares of the company’s stock worth $4,407,000 after acquiring an additional 794,371 shares during the period. Invesco Ltd. lifted its holdings in Navitas Semiconductor by 22.2% during the 1st quarter. Invesco Ltd. now owns 1,829,803 shares of the company’s stock valued at $3,751,000 after purchasing an additional 331,832 shares during the last quarter. Nuveen LLC bought a new position in Navitas Semiconductor during the 1st quarter valued at about $675,000. Susquehanna Fundamental Investments LLC bought a new position in Navitas Semiconductor during the 4th quarter valued at about $1,170,000. Finally, Edge Capital Group LLC bought a new position in Navitas Semiconductor during the 4th quarter valued at about $987,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Trading Up 12.7%

NASDAQ:NVTS opened at $7.35 on Wednesday. The company has a market capitalization of $1.41 billion, a P/E ratio of -14.13 and a beta of 2.96. The firm has a fifty day simple moving average of $4.11 and a 200-day simple moving average of $3.31. Navitas Semiconductor has a 12 month low of $1.52 and a 12 month high of $9.17.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $14.02 million for the quarter, compared to analyst estimates of $14.01 million. Navitas Semiconductor had a negative net margin of 131.83% and a negative return on equity of 22.62%. Navitas Semiconductor’s quarterly revenue was down 39.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) earnings per share. Equities analysts forecast that Navitas Semiconductor will post -0.51 EPS for the current year.

Navitas Semiconductor Company Profile

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.