Navitas Semiconductor (NASDAQ:NVTS) Trading Down 2.4% – Should You Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price was down 2.4% during trading on Monday . The stock traded as low as $23.96 and last traded at $24.48. Approximately 28,805,799 shares were traded during trading, a decline of 1% from the average daily volume of 28,994,441 shares. The stock had previously closed at $25.08.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Weiss Ratings cut shares of Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Robert W. Baird increased their price target 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 reissued an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor 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. Finally, Needham & Company LLC increased their price target 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. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.87.

Navitas Semiconductor Stock Down 10.3%

The firm has a market cap of $4.79 billion, a PE ratio of -32.54 and a beta of 3.75. The stock’s fifty day simple moving average is $18.24 and its two-hundred day simple moving average is $12.17.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The business’s revenue was down 38.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.06) earnings per share. On average, equities research analysts anticipate that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Navitas Semiconductor news, Director Ranbir Singh sold 664,058 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.72, for a total value of $19,071,745.76. Following the sale, the director owned 14,943,475 shares in the company, valued at approximately $429,176,602. This represents a 4.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Todd Glickman sold 98,152 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the completion of the sale, the chief financial officer owned 735,231 shares in the company, valued at approximately $7,925,790.18. This trade represents a 11.78% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 4,087,630 shares of company stock valued at $117,414,466. 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 company. DNB Asset Management AS purchased a new stake in shares of Navitas Semiconductor during the fourth quarter valued at approximately $774,000. UBS Group AG grew its holdings in shares of Navitas Semiconductor by 131.0% during the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after buying an additional 1,875,228 shares during the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Navitas Semiconductor during the third quarter valued at approximately $960,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Navitas Semiconductor by 1,425.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company’s stock valued at $949,000 after buying an additional 124,164 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Navitas Semiconductor during the fourth quarter valued at approximately $484,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.