Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 1.3% – Time to Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price dropped 1.3% during mid-day trading on Thursday . The stock traded as low as $27.73 and last traded at $28.51. Approximately 20,947,839 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 28,102,045 shares. The stock had previously closed at $28.88.

Analyst Upgrades and Downgrades

NVTS has been the subject of several recent analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Robert W. Baird increased their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Rosenblatt Securities increased their price objective 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.87.

Navitas Semiconductor Stock Down 6.7%

The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of -42.22 and a beta of 3.62. The firm’s 50 day moving average is $15.81 and its 200 day moving average is $11.26.

Navitas Semiconductor (NASDAQ:NVTS) last released 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 business had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. During the same period in the prior year, the business earned ($0.06) earnings per share. The business’s quarterly revenue was down 38.7% on a year-over-year basis. On average, sell-side analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of Navitas Semiconductor stock in a transaction dated 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 transaction, the director owned 13,964 shares of the company’s stock, valued at approximately $392,528.04. This trade represents a 83.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard J. Hendrix sold 110,165 shares of the business’s stock in a transaction dated 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 sale, the director owned 101,709 shares in the company, valued at approximately $2,945,492.64. The trade was a 52.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,096,866 shares of company stock worth $117,496,943 over the last three months. Company insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. DNB Asset Management AS purchased a new stake in shares of Navitas Semiconductor in the 4th quarter valued at approximately $774,000. UBS Group AG lifted its position in shares of Navitas Semiconductor by 131.0% in the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after acquiring an additional 1,875,228 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Navitas Semiconductor in the 3rd quarter valued at approximately $960,000. Newbridge Financial Services Group Inc. lifted its position in shares of Navitas Semiconductor by 1,425.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company’s stock valued at $949,000 after acquiring an additional 124,164 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Navitas Semiconductor in the 4th quarter valued at approximately $484,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

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.