Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 18.2% – Time to Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price traded down 18.2% during trading on Friday . The company traded as low as $24.38 and last traded at $25.08. 36,164,670 shares changed hands during trading, an increase of 25% from the average session volume of 28,990,670 shares. The stock had previously closed at $30.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC boosted 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. Morgan Stanley restated an “underweight” rating and set a $13.70 price objective on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Robert W. Baird boosted their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings cut Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. 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’s stock. According to MarketBeat, Navitas Semiconductor has a consensus rating of “Hold” and a consensus price target of $12.87.

Navitas Semiconductor Stock Down 18.2%

The company has a market cap of $5.86 billion, a P/E ratio of -39.81 and a beta of 3.75. The business has a fifty day moving average price of $17.32 and a 200-day moving average price of $11.83.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $8.60 million during 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 business’s revenue was down 38.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. As a group, research analysts expect that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ranbir Singh sold 664,058 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.72, for a total value of $19,071,745.76. Following the completion of the sale, the director directly owned 14,943,475 shares in the company, valued at approximately $429,176,602. The trade was a 4.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Chris Allexandre sold 13,323 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the sale, the chief executive officer owned 1,072,633 shares of the company’s stock, valued at approximately $34,120,455.73. This trade represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,087,630 shares of company stock valued at $117,414,466 in the last quarter. Company insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Navitas Semiconductor by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock valued at $104,896,000 after buying an additional 1,330,703 shares during the period. State Street Corp boosted its stake in shares of Navitas Semiconductor by 18.0% in the fourth quarter. State Street Corp now owns 8,597,950 shares of the company’s stock valued at $61,389,000 after buying an additional 1,308,626 shares during the period. Invesco Ltd. boosted its stake in shares of Navitas Semiconductor by 257.8% in the fourth 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 during the period. Geode Capital Management LLC raised its position in Navitas Semiconductor by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock valued at $31,546,000 after purchasing an additional 501,110 shares in the last quarter. Finally, UBS Group AG raised its position in Navitas Semiconductor by 131.0% during the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after purchasing an additional 1,875,228 shares in the last quarter. 46.14% of the stock is currently owned by 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.