Navitas Semiconductor (NASDAQ:NVTS) Shares Down 1.3% – Here’s What Happened

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares were down 1.3% during trading on Monday . The stock traded as low as $23.00 and last traded at $23.70. Approximately 26,559,430 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 28,928,760 shares. The stock had previously closed at $24.02.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NVTS. 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 research report on Monday, May 4th. Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Needham & Company LLC boosted their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Rosenblatt Securities increased their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.74.

Navitas Semiconductor Trading Down 1.3%

The business has a 50-day moving average price of $20.49 and a two-hundred day moving average price of $13.00. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of -37.62 and a beta of 3.75.

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

Insider Activity

In related news, Director Richard J. Hendrix sold 110,165 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total value of $3,190,378.40. Following the completion of the transaction, the director directly owned 101,709 shares of the company’s stock, valued at $2,945,492.64. This represents a 52.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.11, for a total value of $2,052,030.00. Following the completion of the transaction, the director directly owned 13,964 shares of the company’s stock, valued at $392,528.04. This trade represents a 83.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,989,478 shares of company stock worth $116,356,387 over the last ninety days. Insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its holdings in Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after acquiring an additional 2,698 shares during the period. NewEdge Advisors LLC lifted its holdings in 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 acquiring an additional 2,942 shares during the last quarter. GAMMA Investing LLC lifted its holdings in 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 acquiring an additional 2,548 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after purchasing an additional 4,000 shares in the last quarter. Finally, State of Wyoming boosted its position in shares of Navitas Semiconductor by 92.8% during the 1st quarter. State of Wyoming now owns 4,803 shares of the company’s stock valued at $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.