Navitas Semiconductor (NASDAQ:NVTS) Trading Down 8.2% – Here’s What Happened

Navitas Semiconductor Corporation (NASDAQ:NVTS) was down 8.2% during mid-day trading on Tuesday . The stock traded as low as $13.35 and last traded at $13.3860. 5,071,273 shares changed hands during trading, a decline of 80% from the average daily volume of 25,639,027 shares. The stock had previously closed at $14.58.

Wall Street Analysts Forecast Growth

NVTS has been the subject of several research reports. Rosenblatt Securities restated a “neutral” rating and issued a $13.00 price objective on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 target price on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Jefferies Financial Group set a $13.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Morgan Stanley reissued an “underweight” rating and issued a $12.60 price target on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Finally, Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor presently has an average rating of “Hold” and an average price target of $15.92.

Navitas Semiconductor Trading Down 8.6%

The stock has a market capitalization of $3.48 billion, a P/E ratio of -10.01 and a beta of 3.87. The company has a fifty day simple moving average of $15.53 and a two-hundred day simple moving average of $14.44.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Monday, July 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The company had revenue of $10.53 million for the quarter, compared to analyst estimates of $9.97 million. During the same quarter last year, the firm earned ($0.25) EPS. The company’s revenue for the quarter was down 27.3% on a year-over-year basis. As a group, analysts forecast that Navitas Semiconductor Corporation will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total transaction of $423,804.63. Following the completion of the sale, the chief executive officer owned 1,072,633 shares of the company’s stock, valued at approximately $34,120,455.73. The trade was a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.11, for a total transaction of $2,052,030.00. Following the sale, the director owned 13,964 shares of the company’s stock, valued at $392,528.04. The trade was a 83.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 3,989,478 shares of company stock valued at $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 made changes to their positions in the stock. Allworth Financial LP boosted its position in shares of Navitas Semiconductor by 309.4% in 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. Rakuten Securities Inc. bought a new stake in Navitas Semiconductor in the second quarter valued at about $27,000. NewEdge Advisors LLC increased 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 purchasing an additional 2,942 shares during 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 valued at $31,000 after buying an additional 1,239 shares during the period. 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 valued at $36,000 after buying an additional 4,000 shares during the period. 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.