Navitas Semiconductor (NASDAQ:NVTS) Trading Down 6.9% – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares dropped 6.9% during trading on Tuesday . The company traded as low as $21.90 and last traded at $22.09. 21,929,481 shares traded hands during trading, a decline of 24% from the average session volume of 29,045,178 shares. The stock had previously closed at $23.73.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Rosenblatt Securities upped their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. 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 note on Wednesday, May 6th. Weiss Ratings upgraded shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Robert W. Baird upped their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.74.

Navitas Semiconductor Stock Performance

The company has a 50-day moving average of $19.89 and a 200-day moving average of $12.78. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of -38.13 and a beta of 3.75.

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

Insider Activity

In other news, Director Ranbir Singh sold 3,060,118 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.29, for a total value of $89,630,856.22. Following the completion of the sale, the director owned 15,607,533 shares in the company, valued at approximately $457,144,641.57. This trade represents a 16.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of Navitas Semiconductor stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.11, for a total transaction of $2,052,030.00. Following the completion of the sale, the director directly owned 13,964 shares in the company, valued at approximately $392,528.04. The trade was a 83.94% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. Corporate insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after purchasing an additional 2,698 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after buying an additional 2,942 shares during the period. GAMMA Investing LLC boosted its stake in shares of Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after buying an additional 2,548 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after buying an additional 4,000 shares in the last quarter. Finally, State of Wyoming grew its holdings in Navitas Semiconductor by 92.8% during the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after acquiring an additional 2,312 shares during the period. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.