Navitas Semiconductor (NASDAQ:NVTS) Trading Down 2.6% – Here’s What Happened

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares fell 2.6% on Friday . The company traded as low as $10.74 and last traded at $11.46. 13,133,353 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 27,445,195 shares. The stock had previously closed at $11.76.

Wall Street Analysts Forecast Growth

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

Navitas Semiconductor Trading Down 2.6%

The company has a market capitalization of $2.68 billion, a P/E ratio of -18.19 and a beta of 3.82. The firm’s 50 day moving average price is $21.07 and its two-hundred day moving average price is $14.00.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $8.22 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. The firm’s revenue for the quarter was down 38.7% on a year-over-year basis. Analysts anticipate that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In related news, Director Ranbir Singh sold 664,058 shares of Navitas Semiconductor stock in a transaction dated Thursday, May 28th. The stock was 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 of the company’s stock, valued at approximately $429,176,602. The trade was a 4.25% 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. Also, Director Richard J. Hendrix sold 110,165 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.96, for a total value of $3,190,378.40. Following the sale, the director owned 101,709 shares in the company, valued at $2,945,492.64. The trade was a 52.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 3,989,478 shares of company stock valued at $116,356,387. Corporate insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NVTS. Allworth Financial LP increased its position in shares of Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after purchasing an additional 2,698 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after buying an additional 2,942 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in shares of Navitas Semiconductor by 247.8% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock valued at $31,000 after buying an additional 1,239 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after buying an additional 2,548 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after buying an additional 4,000 shares in the last quarter. 46.14% of the stock is currently owned by 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.