Navitas Semiconductor (NASDAQ:NVTS) Trading Down 5.1% – Here’s What Happened

Navitas Semiconductor Corporation (NASDAQ:NVTS) fell 5.1% on Thursday . The stock traded as low as $11.76 and last traded at $12.03. 12,555,113 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 27,008,781 shares. The stock had previously closed at $12.67.

Wall Street Analyst Weigh In

NVTS has been the subject of several recent research reports. Robert W. Baird upped their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. 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 note on Wednesday, May 6th. Morgan Stanley reiterated an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Needham & Company LLC boosted their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.74.

Navitas Semiconductor Price Performance

The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -19.14 and a beta of 3.82. The firm has a 50 day simple moving average of $20.41 and a 200-day simple moving average of $14.14.

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

Insider Activity

In other news, Director Ranbir Singh sold 3,060,118 shares of Navitas Semiconductor stock in a transaction that occurred 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 transaction, the director owned 15,607,533 shares in the company, valued at approximately $457,144,641.57. The trade was a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total transaction of $423,804.63. Following the completion of the transaction, the chief executive officer owned 1,072,633 shares of the company’s stock, valued at $34,120,455.73. This trade represents a 1.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,989,478 shares of company stock valued at $116,356,387 in the last ninety days. 12.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors have recently bought and sold shares of the business. Allworth Financial LP boosted its stake in Navitas Semiconductor by 309.4% in the third 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 grew its holdings in shares of Navitas Semiconductor by 189.8% during the second 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 last quarter. Beaird Harris Wealth Management LLC increased its stake in shares of 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 buying an additional 1,239 shares in the last quarter. GAMMA Investing LLC increased 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. Finally, Geneos Wealth Management Inc. raised its holdings 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 during the last quarter. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

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.