Investors Purchase Large Volume of Navitas Semiconductor Call Options (NASDAQ:NVTS)

Navitas Semiconductor Co. (NASDAQ:NVTS) was the recipient of some unusual options trading activity on Thursday. Traders acquired 3,119 call options on the stock. This is an increase of approximately 57% compared to the average daily volume of 1,987 call options.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NVTS shares. Craig Hallum lowered their price target on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their target price on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Finally, Robert W. Baird reduced their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Three equities research 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, Navitas Semiconductor has a consensus rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Trading Up 17.4 %

NASDAQ NVTS opened at $3.77 on Friday. The firm’s fifty day simple moving average is $2.45 and its two-hundred day simple moving average is $3.16. The firm has a market capitalization of $704.24 million, a P/E ratio of -8.98 and a beta of 2.37. Navitas Semiconductor has a 12-month low of $1.75 and a 12-month high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share 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 firm had revenue of $21.68 million for the quarter, compared to the consensus estimate of $21.93 million. During the same period in the previous year, the business earned ($0.10) EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Navitas Semiconductor will post -0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently modified their holdings of NVTS. Point72 Asset Management L.P. boosted its stake in Navitas Semiconductor by 2,656.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock worth $16,834,000 after purchasing an additional 4,127,940 shares in the last quarter. Masters Capital Management LLC lifted its stake in shares of Navitas Semiconductor by 90.0% during the second quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $7,467,000 after buying an additional 900,000 shares during the period. ArrowMark Colorado Holdings LLC grew its holdings in shares of Navitas Semiconductor by 31.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock valued at $8,713,000 after buying an additional 845,664 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Navitas Semiconductor in the 2nd quarter valued at $2,364,000. Finally, Rice Hall James & Associates LLC purchased a new position in Navitas Semiconductor in the 2nd quarter worth $2,151,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.