Navitas Semiconductor (NASDAQ:NVTS) Trading Down 1.2% – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS) traded down 1.2% during trading on Wednesday . The company traded as low as $12.29 and last traded at $12.67. 12,744,767 shares traded hands during trading, a decline of 53% from the average session volume of 27,113,213 shares. The stock had previously closed at $12.82.

Analyst Upgrades and Downgrades

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

Navitas Semiconductor Trading Down 5.1%

The business’s 50 day moving average is $20.20 and its 200 day moving average is $14.16. The stock has a market capitalization of $2.81 billion, a PE ratio of -19.10 and a beta of 3.82.

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

Insiders Place Their Bets

In related news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.14, for a total transaction of $989,543.10. Following the completion of the transaction, the director owned 2,375,060 shares in the company, valued at $66,834,188.40. The trade was a 1.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ranbir Singh sold 664,058 shares of Navitas Semiconductor stock in a transaction on 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. This trade represents a 4.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,989,478 shares of company stock valued at $116,356,387 over the last quarter. 12.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several large investors have recently added to or reduced their stakes in NVTS. Allworth Financial LP increased 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 acquiring an additional 2,698 shares during the period. NewEdge Advisors LLC boosted its holdings 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. Beaird Harris Wealth Management LLC boosted its holdings in shares of 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. GAMMA Investing LLC grew 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 purchasing an additional 2,548 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after purchasing an additional 4,000 shares during the period. 46.14% of the stock is owned by hedge funds and other 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.