Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 8.1% – Should You Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price traded down 8.1% on Tuesday . The stock traded as low as $13.51 and last traded at $13.99. Approximately 16,247,628 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 28,284,914 shares. The stock had previously closed at $15.23.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Robert W. Baird increased their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Morgan Stanley reiterated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Finally, Needham & Company LLC increased their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.74.

Navitas Semiconductor Trading Up 6.2%

The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of -22.43 and a beta of 3.82. The company’s 50 day moving average is $21.44 and its 200 day moving average is $13.77.

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

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Ranbir Singh sold 3,060,118 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total value of $89,630,856.22. Following the completion of the sale, the director owned 15,607,533 shares in the company, valued at approximately $457,144,641.57. The trade was a 16.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Beaird Harris Wealth Management LLC increased its stake in Navitas Semiconductor by 247.8% in the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock valued at $31,000 after purchasing an additional 1,239 shares during the period. Allworth Financial LP grew its holdings in shares of 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 buying an additional 2,698 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Navitas Semiconductor by 3,200.0% during the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after buying an additional 4,000 shares during the last quarter. NewEdge Advisors LLC increased its position in 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 acquiring an additional 2,942 shares during the period. Finally, GAMMA Investing LLC increased its position in Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after acquiring an additional 2,548 shares during the period. 46.14% of the stock is owned by hedge funds and other 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.