Navitas Semiconductor (NASDAQ:NVTS) Shares Down 8.2% – Should You Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price dropped 8.2% during mid-day trading on Tuesday . The stock traded as low as $13.35 and last traded at $13.3860. Approximately 5,071,273 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 25,639,027 shares. The stock had previously closed at $14.58.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NVTS shares. Morgan Stanley reaffirmed an “underweight” rating and set a $12.60 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Robert W. Baird increased their price target on shares of 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 restated a “buy” rating and set a $21.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, Wall Street Zen raised 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, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.92.

Navitas Semiconductor Price Performance

The firm has a 50 day simple moving average of $15.53 and a 200-day simple moving average of $14.44. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -10.01 and a beta of 3.87.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Monday, July 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%.The company had revenue of $10.53 million during the quarter, compared to analysts’ expectations of $9.97 million. During the same period last year, the business earned ($0.25) earnings per share. The business’s revenue was down 27.3% on a year-over-year basis. On average, sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.31 earnings per share for the current fiscal year.

Insider Activity

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the company’s 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 sale, the director directly owned 13,964 shares of the company’s stock, valued at approximately $392,528.04. This represents a 83.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ranbir Singh sold 3,060,118 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the sale, the director directly owned 15,607,533 shares in the company, valued at $457,144,641.57. This represents a 16.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,989,478 shares of company stock valued at $116,356,387. Company insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. DNB Asset Management AS acquired a new stake in Navitas Semiconductor during the 4th quarter valued at $774,000. UBS Group AG boosted its stake in Navitas Semiconductor by 131.0% in the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after purchasing an additional 1,875,228 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Navitas Semiconductor by 21.8% during the first quarter. Bank of New York Mellon Corp now owns 566,465 shares of the company’s stock worth $4,968,000 after purchasing an additional 101,389 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Navitas Semiconductor during the fourth quarter worth $484,000. Finally, Integrity Alliance LLC. acquired a new stake in shares of Navitas Semiconductor in the fourth quarter valued at $280,000. 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.