Navitas Semiconductor (NASDAQ:NVTS) Shares Down 12.5% – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price traded down 12.5% during trading on Thursday . The stock traded as low as $14.03 and last traded at $14.46. Approximately 29,302,395 shares changed hands during trading, an increase of 3% from the average daily volume of 28,506,041 shares. The stock had previously closed at $16.53.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Needham & Company LLC increased their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley restated an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Rosenblatt Securities increased their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.74.

Navitas Semiconductor Price Performance

The stock has a 50 day moving average price of $21.67 and a 200-day moving average price of $13.59. The stock has a market capitalization of $3.38 billion, a P/E ratio of -22.95 and a beta of 3.82.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate 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%.Navitas Semiconductor’s quarterly revenue was down 38.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) EPS. Research analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the company’s stock in a transaction 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 completion of the sale, the director directly owned 2,375,060 shares in the company, valued at $66,834,188.40. This represents a 1.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total transaction of $423,804.63. Following the sale, the chief executive officer directly owned 1,072,633 shares of the company’s stock, valued at $34,120,455.73. The trade was a 1.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of NVTS. American Century Companies Inc. grew its position in shares of Navitas Semiconductor by 104.8% in the 2nd quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock worth $1,581,000 after buying an additional 123,577 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Navitas Semiconductor in the second quarter worth $120,000. New York State Common Retirement Fund lifted its stake in Navitas Semiconductor by 102.7% in the second quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock worth $264,000 after acquiring an additional 20,400 shares during the period. Invesco Ltd. lifted its stake in Navitas Semiconductor by 75.2% in the second quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock worth $20,999,000 after acquiring an additional 1,376,205 shares during the period. Finally, Baird Financial Group Inc. boosted its holdings in Navitas Semiconductor by 2,514.3% in the second 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 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.