Navitas Semiconductor (NASDAQ:NVTS) Trading Down 11.2% – Time to Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price traded down 11.2% on Tuesday . The company traded as low as $20.30 and last traded at $20.1240. 6,875,321 shares were traded during trading, a decline of 74% from the average session volume of 26,634,457 shares. The stock had previously closed at $22.65.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NVTS. Robert W. Baird lifted 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. Rosenblatt Securities raised their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Morgan Stanley restated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Needham & Company LLC increased their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.87.

Navitas Semiconductor Price Performance

The firm’s 50 day moving average price is $11.97 and its two-hundred day moving average price is $10.11. The stock has a market cap of $5.15 billion, a PE ratio of -35.43 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. During the same period in the prior year, the company posted ($0.06) EPS. Navitas Semiconductor’s revenue was down 38.7% compared to the same quarter last year. Analysts anticipate that Navitas Semiconductor Corporation will post -0.26 earnings per share for the current year.

Insider Activity

In other Navitas Semiconductor news, CFO Todd Glickman sold 98,152 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total value of $1,058,078.56. Following the completion of the transaction, the chief financial officer owned 735,231 shares in the company, valued at $7,925,790.18. This trade represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ranbir Singh sold 389,096 shares of Navitas Semiconductor stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $9.52, for a total value of $3,704,193.92. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 509,016 shares of company stock worth $4,967,814. 29.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

A number of large investors have recently modified their holdings of the company. Diversify Advisory Services LLC purchased a new stake in Navitas Semiconductor in the 3rd quarter worth approximately $960,000. UBS Group AG grew its position in shares of Navitas Semiconductor by 131.0% during the 4th 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. Newbridge Financial Services Group Inc. increased its holdings in shares of Navitas Semiconductor by 1,425.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company’s stock worth $949,000 after purchasing an additional 124,164 shares during the period. Vanguard Group Inc. increased 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 purchasing an additional 2,550,613 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Navitas Semiconductor in the third quarter worth $2,188,000. 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.