Navitas Semiconductor (NASDAQ:NVTS) Shares Down 9.2% – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares dropped 9.2% during trading on Wednesday . The stock traded as low as $28.37 and last traded at $28.88. Approximately 35,792,929 shares traded hands during mid-day trading, an increase of 27% from the average daily volume of 28,169,266 shares. The stock had previously closed at $31.79.

Wall Street Analyst Weigh In

NVTS has been the subject of several research reports. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Rosenblatt Securities lifted their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Finally, Needham & Company LLC boosted their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.87.

Navitas Semiconductor Trading Down 6.7%

The stock has a 50-day simple moving average of $15.46 and a 200-day simple moving average of $11.15. The company has a market cap of $6.22 billion, a price-to-earnings ratio of -42.22 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The company had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. During the same quarter in the previous year, the firm posted ($0.06) EPS. The firm’s quarterly revenue was down 38.7% on a year-over-year basis. As a group, research analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other news, CFO Todd Glickman sold 98,152 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total value of $1,058,078.56. Following the completion of the sale, the chief financial officer owned 735,231 shares in the company, valued at $7,925,790.18. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Chris Allexandre sold 9,236 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the completion of the sale, the chief executive officer owned 813,323 shares of the company’s stock, valued at approximately $7,262,974.39. This trade represents a 1.12% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 12.40% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Institutional investors have recently modified their holdings of the company. Allworth Financial LP increased its stake in Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after purchasing an additional 2,698 shares in the last quarter. NewEdge Advisors LLC increased its stake in Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after purchasing an additional 2,942 shares in the last quarter. GAMMA Investing LLC increased its stake in Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after purchasing an additional 2,548 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Navitas Semiconductor by 3,200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after purchasing an additional 4,000 shares in the last quarter. Finally, State of Wyoming increased its stake in Navitas Semiconductor by 92.8% in the 1st quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after purchasing an additional 2,312 shares in the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

About Navitas Semiconductor

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.