Navitas Semiconductor (NASDAQ:NVTS) Trading Down 4.5% – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price traded down 4.5% during trading on Monday . The company traded as low as $12.58 and last traded at $12.87. 12,030,557 shares changed hands during trading, a decline of 57% from the average daily volume of 27,870,139 shares. The stock had previously closed at $13.47.

Analyst Ratings Changes

Several equities analysts recently issued reports on NVTS shares. Rosenblatt Securities upped their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Robert W. Baird raised their price target 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. Needham & Company LLC lifted their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Finally, Morgan Stanley restated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.74.

Navitas Semiconductor Stock Down 4.5%

The company has a market cap of $3.01 billion, a P/E ratio of -20.43 and a beta of 3.82. The business has a fifty day simple moving average of $21.38 and a two-hundred day simple moving average of $13.85.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $8.22 million. During the same period in the previous year, the company posted ($0.06) EPS. The business’s quarterly revenue was down 38.7% compared to the same quarter last year. On average, equities analysts predict that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other news, CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total transaction of $423,804.63. Following the transaction, the chief executive officer owned 1,072,633 shares in the company, valued at $34,120,455.73. This trade represents a 1.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard J. Hendrix sold 110,165 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the sale, the director directly owned 101,709 shares of the company’s stock, 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. Over the last three months, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. 12.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. grew its holdings in Navitas Semiconductor by 257.8% during the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after purchasing an additional 3,413,394 shares during the period. Marex Group plc raised 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 worth $19,100,000 after buying an additional 2,663,119 shares during the period. Ghisallo Capital Management LLC bought a new position in shares of Navitas Semiconductor in the fourth quarter worth about $15,867,000. UBS Group AG lifted its position in shares of Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after buying an additional 1,875,228 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Navitas Semiconductor during the 3rd quarter valued at approximately $11,243,000. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

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.