Navitas Semiconductor (NASDAQ:NVTS) Trading Down 9.6% – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS) dropped 9.6% on Monday . The stock traded as low as $19.65 and last traded at $19.2660. Approximately 7,808,901 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 27,167,250 shares. The stock had previously closed at $21.32.

Analysts Set New Price Targets

Several analysts recently issued reports on NVTS shares. Rosenblatt Securities upped their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Needham & Company LLC upped their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Robert W. Baird boosted their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Navitas Semiconductor currently has an average rating of “Hold” and a consensus price target of $12.87.

Navitas Semiconductor Trading Down 1.2%

The firm has a market cap of $4.54 billion, a price-to-earnings ratio of -30.84 and a beta of 3.62. The stock’s 50 day moving average is $12.92 and its 200 day moving average is $10.31.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The company’s quarterly revenue was down 38.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) EPS. On average, equities research analysts predict that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ranbir Singh sold 389,096 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $9.52, for a total value of $3,704,193.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Todd Glickman sold 98,152 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the completion of the sale, the chief financial officer directly owned 735,231 shares in the company, valued at approximately $7,925,790.18. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 509,016 shares of company stock valued at $4,967,814. 12.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors have recently made changes to their positions in NVTS. CWM LLC lifted its holdings in shares of Navitas Semiconductor by 24.7% in the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after purchasing an additional 893 shares in the last quarter. Prospera Financial Services Inc raised its holdings in Navitas Semiconductor by 3.8% during the third quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock worth $219,000 after buying an additional 1,120 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in Navitas Semiconductor by 2.8% during the first quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock worth $370,000 after buying an additional 1,150 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Navitas Semiconductor by 12.6% in the fourth quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock valued at $96,000 after buying an additional 1,505 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Navitas Semiconductor by 3.8% during the second quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock valued at $300,000 after buying an additional 1,667 shares during the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.