Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 7.9% – Should You Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price was down 7.9% on Friday . The stock traded as low as $8.39 and last traded at $8.3050. Approximately 3,713,204 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 23,284,273 shares. The stock had previously closed at $9.02.

Wall Street Analyst Weigh In

NVTS has been the topic of several analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and set a $7.00 price target on shares of Navitas Semiconductor in a research report on Thursday, March 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $6.78.

Navitas Semiconductor Price Performance

The company has a market cap of $1.93 billion, a PE ratio of -14.66 and a beta of 3.16. The company’s 50 day simple moving average is $9.16 and its two-hundred day simple moving average is $9.06.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 14.52%. The business had revenue of $7.30 million for the quarter, compared to the consensus estimate of $6.95 million. During the same period in the previous year, the firm earned ($0.06) EPS. The business’s revenue was down 59.4% on a year-over-year basis. Sell-side analysts expect that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other news, CFO Todd Glickman sold 98,152 shares of Navitas Semiconductor stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total value of $1,058,078.56. Following the completion of the sale, the chief financial officer directly owned 735,231 shares of the company’s stock, valued at approximately $7,925,790.18. The trade was a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chris Allexandre sold 9,236 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the completion of the sale, the chief executive officer owned 813,323 shares in the company, valued at $7,262,974.39. This represents a 1.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 509,016 shares of company stock valued at $4,967,814 over the last quarter. 29.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors have recently bought and sold shares of the company. Allworth Financial LP increased its stake in Navitas Semiconductor by 309.4% during the third 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 period. NewEdge Advisors LLC boosted its stake in shares of Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after purchasing an additional 2,942 shares during the period. CWM LLC grew its holdings in shares of Navitas Semiconductor by 24.7% in the third quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after purchasing an additional 893 shares in the last quarter. GAMMA Investing LLC increased its stake in Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after buying an additional 2,548 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in Navitas Semiconductor by 1,376.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock worth $38,000 after buying an additional 4,927 shares during the period. 46.14% of the stock is owned by institutional investors and hedge funds.

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.