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

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price traded down 2.6% on Friday . The stock traded as low as $10.74 and last traded at $11.46. 13,133,353 shares changed hands 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.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Needham & Company LLC increased their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Robert W. Baird raised their target price on 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 restated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Finally, Rosenblatt Securities upped their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.74.

Navitas Semiconductor Stock Down 2.6%

The business’s 50-day simple moving average is $20.93 and its two-hundred day simple moving average is $13.98. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -18.19 and a beta of 3.82.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $8.60 million for the quarter, compared to analyst estimates of $8.22 million. During the same period in the prior year, the business posted ($0.06) EPS. The business’s revenue for the quarter was down 38.7% compared to the same quarter last year. Sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Transactions at Navitas Semiconductor

In other news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of Navitas Semiconductor stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.11, for a total value of $2,052,030.00. Following the completion of the sale, the director directly owned 13,964 shares of the company’s stock, valued at approximately $392,528.04. The trade was a 83.94% 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, Director Richard J. Hendrix sold 110,165 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total value of $3,190,378.40. Following the completion of the sale, the director owned 101,709 shares in the company, valued at $2,945,492.64. This represents a 52.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,989,478 shares of company stock valued at $116,356,387 over the last three months. 12.40% of the stock is currently 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 grew its position 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 in the last quarter. NewEdge Advisors LLC raised its holdings in 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 acquiring an additional 2,942 shares in the last quarter. Beaird Harris Wealth Management LLC lifted 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 worth $31,000 after acquiring an additional 1,239 shares during the last quarter. GAMMA Investing LLC lifted its stake in Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after acquiring an additional 2,548 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after acquiring an additional 4,000 shares during the last quarter. 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.