Navitas Semiconductor (NASDAQ:NVTS) Shares Down 3.4% – Here’s What Happened

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares dropped 3.4% during trading on Friday . The stock traded as low as $7.29 and last traded at $7.40. Approximately 7,587,620 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 25,640,330 shares. The stock had previously closed at $7.66.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVTS. Jefferies Financial Group upgraded Navitas Semiconductor to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. Needham & Company LLC raised their price target on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $8.00 price objective on shares of Navitas Semiconductor in a report on Monday, November 10th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.48.

Navitas Semiconductor Trading Down 3.4%

The company has a market cap of $1.71 billion, a price-to-earnings ratio of -11.56 and a beta of 3.14. The stock’s fifty day simple moving average is $9.73 and its 200 day simple moving average is $8.04.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $10.11 million during the quarter, compared to analyst estimates of $10.00 million. Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.The business’s revenue was down 53.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.10) earnings per share. On average, analysts predict that Navitas Semiconductor Corporation will post -0.51 EPS for the current year.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Dipender Saluja sold 873,488 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $8.10, for a total value of $7,075,252.80. Following the transaction, the director owned 4,755,536 shares of the company’s stock, valued at $38,519,841.60. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ranbir Singh sold 179,354 shares of Navitas Semiconductor stock in a transaction on Friday, December 12th. The shares were sold at an average price of $8.68, for a total value of $1,556,792.72. Following the completion of the sale, the director directly owned 389,096 shares of the company’s stock, valued at $3,377,353.28. The trade was a 31.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,426,898 shares of company stock valued at $29,360,063 in the last three months. 29.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Navitas Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Navitas Semiconductor by 23.6% in the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock valued at $96,464,000 after purchasing an additional 2,550,613 shares in the last quarter. Jump Financial LLC acquired a new position in Navitas Semiconductor during the 3rd quarter worth approximately $11,243,000. BNP Paribas Financial Markets raised its holdings in shares of Navitas Semiconductor by 1,332.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,604,538 shares of the company’s stock valued at $10,510,000 after purchasing an additional 1,492,512 shares in the last quarter. Invesco Ltd. lifted its position in shares of Navitas Semiconductor by 75.2% during the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock worth $20,999,000 after purchasing an additional 1,376,205 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Navitas Semiconductor by 1,742.4% during the second quarter. JPMorgan Chase & Co. now owns 1,428,386 shares of the company’s stock worth $9,356,000 after purchasing an additional 1,350,857 shares in the last quarter. 46.14% of the stock is currently 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.