Navitas Semiconductor (NASDAQ:NVTS) Shares Down 11.4% – Should You Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price dropped 11.4% on Thursday . The stock traded as low as $11.57 and last traded at $11.76. 14,923,298 shares traded hands during trading, a decline of 46% from the average session volume of 27,550,977 shares. The stock had previously closed at $13.27.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NVTS shares. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Robert W. Baird boosted their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, Rosenblatt Securities upped their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.74.

Navitas Semiconductor Trading Down 2.6%

The company has a market capitalization of $2.68 billion, a P/E ratio of -18.19 and a beta of 3.82. The company has a 50 day moving average price of $20.93 and a 200 day moving average price of $13.98.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating 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 business had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. During the same quarter in the prior year, the business earned ($0.06) EPS. The firm’s revenue for the quarter was down 38.7% on a year-over-year basis. As a group, sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Activity at Navitas Semiconductor

In related news, Director Ranbir Singh sold 3,060,118 shares of the company’s stock in a transaction dated 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 transaction, the director owned 15,607,533 shares in the company, valued at approximately $457,144,641.57. This represents a 16.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the 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 transaction, the director directly owned 13,964 shares in the company, valued at approximately $392,528.04. This represents a 83.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,989,478 shares of company stock valued at $116,356,387 over the last three months. Company insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its position in Navitas Semiconductor by 257.8% during the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after buying an additional 3,413,394 shares during the period. Marex Group plc grew its stake in shares of Navitas Semiconductor by 22,203.8% in the fourth quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock valued at $19,100,000 after acquiring an additional 2,663,119 shares in the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of Navitas Semiconductor in the fourth quarter valued at about $15,867,000. UBS Group AG increased its position in Navitas Semiconductor by 131.0% during the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after acquiring an additional 1,875,228 shares during the period. Finally, Jump Financial LLC acquired a new stake in Navitas Semiconductor in the 3rd quarter worth about $11,243,000. Institutional investors and hedge funds 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.