Navitas Semiconductor (NASDAQ:NVTS) Shares Down 7.8% – Should You Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price traded down 7.8% on Wednesday . The stock traded as low as $16.46 and last traded at $16.53. Approximately 15,058,910 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 28,498,412 shares. The stock had previously closed at $17.92.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NVTS. Robert W. Baird increased their price target 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. Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Rosenblatt Securities lifted their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. 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 report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $14.74.

Navitas Semiconductor Trading Down 7.8%

The stock has a market capitalization of $3.86 billion, a PE ratio of -26.24 and a beta of 3.75. The firm has a 50 day moving average of $21.70 and a two-hundred day moving average of $13.49.

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

Insider Transactions at Navitas Semiconductor

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its stake in Navitas Semiconductor by 257.8% in the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after buying an additional 3,413,394 shares in the last quarter. Marex Group plc increased its position in Navitas Semiconductor by 22,203.8% during 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 in the last quarter. Vanguard Group Inc. raised 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 worth $96,464,000 after acquiring an additional 2,550,613 shares during the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of Navitas Semiconductor in the fourth quarter worth $15,867,000. Finally, UBS Group AG lifted its position in shares of Navitas Semiconductor by 131.0% in the fourth 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. 46.14% of the stock is 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.