Navitas Semiconductor (NASDAQ:NVTS) Trading Down 8.1% – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price dropped 8.1% during mid-day trading on Tuesday . The company traded as low as $13.51 and last traded at $13.99. 16,247,628 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 28,284,914 shares. The stock had previously closed at $15.23.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVTS. Needham & Company LLC increased their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Rosenblatt Securities upped their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research report 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. Finally, Robert W. Baird boosted their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.74.

Navitas Semiconductor Price Performance

The company’s 50 day moving average price is $21.60 and its 200 day moving average price is $13.68. The firm has a market cap of $3.27 billion, a PE ratio of -22.21 and a beta of 3.82.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $8.60 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 38.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) EPS. Sell-side analysts expect that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.14, for a total transaction of $989,543.10. Following the transaction, the director directly owned 2,375,060 shares in the company, valued at approximately $66,834,188.40. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ranbir Singh sold 664,058 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.72, for a total transaction of $19,071,745.76. Following the transaction, the director directly owned 14,943,475 shares in the company, valued at $429,176,602. The trade was a 4.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,989,478 shares of company stock valued at $116,356,387 over the last quarter. Company insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its position in shares of Navitas Semiconductor by 104.8% in the second quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock valued at $1,581,000 after buying an additional 123,577 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of Navitas Semiconductor in the 2nd quarter worth about $120,000. New York State Common Retirement Fund grew its stake in Navitas Semiconductor by 102.7% in the 2nd quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock valued at $264,000 after acquiring an additional 20,400 shares during the last quarter. Invesco Ltd. grew its stake in Navitas Semiconductor by 75.2% in the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock valued at $20,999,000 after acquiring an additional 1,376,205 shares during the last quarter. Finally, Baird Financial Group Inc. increased its holdings 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 valued at $2,746,000 after acquiring an additional 403,201 shares in the last quarter. 46.14% of the stock is currently 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.