Navitas Semiconductor (NASDAQ:NVTS) Trading Down 9.6% – Should You Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS) dropped 9.6% on Monday . The company traded as low as $19.65 and last traded at $19.2660. Approximately 7,808,901 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 27,167,250 shares. The stock had previously closed at $21.32.

Analyst Ratings Changes

Several brokerages have recently commented on NVTS. Rosenblatt Securities boosted their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Robert W. Baird upped their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Morgan Stanley reaffirmed an “underweight” rating and set a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Finally, Needham & Company LLC increased their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.87.

Navitas Semiconductor Price Performance

The company’s 50 day moving average price is $12.48 and its 200 day moving average price is $10.22. The firm has a market capitalization of $4.42 billion, a P/E ratio of -30.01 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate 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 business 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 firm earned ($0.06) earnings per share. Navitas Semiconductor’s revenue was down 38.7% compared to the same quarter last year. On average, research analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, CFO Todd Glickman sold 98,152 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total value of $1,058,078.56. Following the transaction, the chief financial officer directly owned 735,231 shares of the company’s stock, valued at approximately $7,925,790.18. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ranbir Singh sold 389,096 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $9.52, for a total transaction of $3,704,193.92. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 509,016 shares of company stock valued at $4,967,814. 12.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in NVTS. American Century Companies Inc. boosted its position in shares of Navitas Semiconductor by 104.8% during the second quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock worth $1,581,000 after purchasing an additional 123,577 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Navitas Semiconductor during the second quarter worth $120,000. New York State Common Retirement Fund increased its stake in Navitas Semiconductor by 102.7% during the 2nd quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock worth $264,000 after purchasing an additional 20,400 shares in the last quarter. Invesco Ltd. increased its stake in 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 in the last quarter. Finally, Baird Financial Group Inc. increased its stake in Navitas Semiconductor by 2,514.3% during the 2nd quarter. Baird Financial Group Inc. now owns 419,237 shares of the company’s stock worth $2,746,000 after purchasing an additional 403,201 shares in the last quarter. 46.14% of the stock is owned by 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.