Navitas Semiconductor (NASDAQ:NVTS) Shares Down 1.2% – Time to Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price fell 1.2% during trading on Wednesday . The stock traded as low as $12.29 and last traded at $12.67. 12,744,767 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 27,113,213 shares. The stock had previously closed at $12.82.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVTS. Rosenblatt Securities increased their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Robert W. Baird boosted their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Needham & Company LLC upped their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a 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. Finally, Weiss Ratings upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Navitas Semiconductor has an average rating of “Hold” and an average target price of $14.74.

Navitas Semiconductor Stock Performance

The stock’s fifty day simple moving average is $20.58 and its two-hundred day simple moving average is $14.10. The stock has a market capitalization of $2.96 billion, a P/E ratio of -20.11 and a beta of 3.82.

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

Insider Buying and Selling

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.14, for a total value of $989,543.10. Following the sale, the director owned 2,375,060 shares in the company, valued at approximately $66,834,188.40. The trade was a 1.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Chris Allexandre sold 13,323 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the sale, the chief executive officer owned 1,072,633 shares in the company, valued at $34,120,455.73. This trade represents a 1.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. Company insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in NVTS. Beaird Harris Wealth Management LLC boosted its holdings in Navitas Semiconductor by 247.8% in the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock valued at $31,000 after acquiring an additional 1,239 shares during the last quarter. Allworth Financial LP raised its holdings in Navitas Semiconductor by 309.4% during 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 during the last quarter. Geneos Wealth Management Inc. raised its holdings in Navitas Semiconductor by 3,200.0% during 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 during the last quarter. NewEdge Advisors LLC lifted its position 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 worth $29,000 after purchasing an additional 2,942 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after purchasing an additional 2,548 shares during the last quarter. 46.14% of the stock is owned by institutional investors and hedge funds.

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.