Navitas Semiconductor (NASDAQ:NVTS) Trading Down 4.3% – Here’s What Happened

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price dropped 4.3% during trading on Tuesday . The stock traded as low as $9.94 and last traded at $10.0410. Approximately 8,320,468 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 24,049,465 shares. The stock had previously closed at $10.49.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVTS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Thursday, January 22nd. Rosenblatt Securities reissued a “neutral” rating and issued a $7.00 price target on shares of Navitas Semiconductor in a report on Thursday, March 12th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $6.78.

Navitas Semiconductor Price Performance

The company has a market capitalization of $2.28 billion, a PE ratio of -17.37 and a beta of 3.16. The business has a 50-day moving average of $9.30 and a 200 day moving average of $8.91.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). Navitas Semiconductor had a negative return on equity of 14.52% and a negative net margin of 254.71%.The business had revenue of $7.30 million during the quarter, compared to analysts’ expectations of $6.95 million. During the same quarter last year, the business posted ($0.06) EPS. The firm’s revenue for the quarter was down 59.4% compared to the same quarter last year. As a group, research analysts anticipate that Navitas Semiconductor Corporation will post -0.51 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Todd Glickman sold 12,532 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $9.82, for a total value of $123,064.24. Following the completion of the sale, the chief financial officer directly owned 833,383 shares of the company’s stock, valued at $8,183,821.06. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ranbir Singh sold 389,096 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $9.52, for a total value of $3,704,193.92. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 410,864 shares of company stock valued at $3,909,736 over the last ninety days. 29.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its stake in shares of Navitas Semiconductor by 1,438.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 53,834 shares of the company’s stock worth $384,000 after purchasing an additional 50,334 shares during the period. Virtu Financial LLC raised its position in Navitas Semiconductor by 156.2% in the 4th quarter. Virtu Financial LLC now owns 128,615 shares of the company’s stock worth $918,000 after purchasing an additional 78,409 shares during the period. Invesco Ltd. lifted its stake in Navitas Semiconductor by 257.8% in the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after purchasing an additional 3,413,394 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Navitas Semiconductor by 30.7% in the fourth quarter. NewEdge Advisors LLC now owns 28,533 shares of the company’s stock worth $204,000 after purchasing an additional 6,709 shares during the last quarter. Finally, VARCOV Co. purchased a new position in shares of Navitas Semiconductor during the fourth quarter valued at approximately $589,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.