Navitas Semiconductor (NASDAQ:NVTS) Shares Down 6.4% – Time to Sell?

Navitas Semiconductor Co. (NASDAQ:NVTS) traded down 6.4% during mid-day trading on Tuesday . The stock traded as low as $3.97 and last traded at $3.98. 3,676,177 shares were traded during mid-day trading, a decline of 38% from the average session volume of 5,974,570 shares. The stock had previously closed at $4.25.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NVTS shares. Robert W. Baird lowered their price objective on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $7.50 price target on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Craig Hallum dropped their price target on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Navitas Semiconductor currently has an average rating of “Moderate Buy” and an average target price of $4.75.

Navitas Semiconductor Price Performance

The firm has a market cap of $730.37 million, a PE ratio of -9.31 and a beta of 2.23. The business’s fifty day moving average is $2.99 and its 200-day moving average is $3.09.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The company had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $21.93 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. Navitas Semiconductor’s revenue was down 1.4% on a year-over-year basis. Analysts forecast that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Insider Buying and Selling

In other news, Director Richard J. Hendrix sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $4.54, for a total value of $181,600.00. Following the completion of the transaction, the director now directly owns 316,709 shares in the company, valued at approximately $1,437,858.86. This trade represents a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. M&T Bank Corp boosted its position in shares of Navitas Semiconductor by 29.6% during the 3rd quarter. M&T Bank Corp now owns 159,804 shares of the company’s stock valued at $392,000 after acquiring an additional 36,504 shares during the last quarter. State Street Corp raised its position in shares of Navitas Semiconductor by 4.0% during the 3rd quarter. State Street Corp now owns 5,826,638 shares of the company’s stock valued at $14,275,000 after buying an additional 221,575 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Navitas Semiconductor during the 3rd quarter worth $172,000. Point72 Asset Management L.P. grew its position in Navitas Semiconductor by 87.5% in the third quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock worth $19,677,000 after acquiring an additional 3,748,124 shares in the last quarter. Finally, Centiva Capital LP bought a new position in Navitas Semiconductor in the third quarter valued at $195,000. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.