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

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) gapped down before the market opened on Thursday . The stock had previously closed at $12.67, but opened at $11.97. Navitas Semiconductor shares last traded at $12.5590, with a volume of 2,471,698 shares traded.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Needham & Company LLC lifted their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Rosenblatt Securities upped their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Navitas Semiconductor presently has an average rating of “Hold” and an average target price of $14.74.

Navitas Semiconductor Stock Performance

The company has a market capitalization of $2.85 billion, a P/E ratio of -19.25 and a beta of 3.82. The stock’s 50 day moving average price is $20.41 and its 200 day moving average price is $14.14.

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 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 business’s revenue was down 38.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) earnings per share. On average, analysts expect that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 110,165 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total value of $3,190,378.40. Following the sale, the director owned 101,709 shares of the company’s stock, valued at $2,945,492.64. The trade was a 52.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ranbir Singh sold 664,058 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.72, for a total value of $19,071,745.76. Following the sale, the director directly owned 14,943,475 shares in the company, valued at $429,176,602. This trade represents a 4.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. Corporate insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Allworth Financial LP boosted its holdings in shares of 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 purchasing an additional 2,698 shares during the period. NewEdge Advisors LLC grew its stake in Navitas Semiconductor by 189.8% in 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 period. Beaird Harris Wealth Management LLC grew its position in shares of Navitas Semiconductor by 247.8% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock worth $31,000 after buying an additional 1,239 shares during the period. GAMMA Investing LLC increased its stake in shares of Navitas Semiconductor by 116.5% during the fourth 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 in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Navitas Semiconductor by 3,200.0% during 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. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.