Navitas Semiconductor (NASDAQ:NVTS) Trading Down 8.4% – Should You Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares traded down 8.4% during mid-day trading on Friday . The stock traded as low as $11.43 and last traded at $11.46. 8,190,414 shares were traded during trading, a decline of 67% from the average session volume of 25,043,342 shares. The stock had previously closed at $12.51.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Needham & Company LLC restated a “buy” rating and issued 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 target price on Navitas Semiconductor in a research note on Tuesday, July 28th. Robert W. Baird increased their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.92.

Navitas Semiconductor Stock Performance

The firm’s 50 day simple moving average is $13.94 and its 200-day simple moving average is $14.66. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -8.51 and a beta of 3.86.

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

Institutional Trading of Navitas Semiconductor

A number of institutional investors have recently added to or reduced their stakes in NVTS. American Century Companies Inc. increased its holdings in shares of Navitas Semiconductor by 104.8% during the 2nd quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock valued at $1,581,000 after acquiring an additional 123,577 shares during the last quarter. Prudential Financial Inc. acquired a new position in Navitas Semiconductor during the 2nd quarter worth $120,000. New York State Common Retirement Fund boosted its holdings in Navitas Semiconductor by 102.7% during the second quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock valued at $264,000 after acquiring an additional 20,400 shares during the period. Invesco Ltd. boosted its holdings in Navitas Semiconductor by 75.2% during the second quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock valued at $20,999,000 after acquiring an additional 1,376,205 shares during the period. Finally, Baird Financial Group Inc. grew its position in shares of Navitas Semiconductor by 2,514.3% in the second quarter. Baird Financial Group Inc. now owns 419,237 shares of the company’s stock valued at $2,746,000 after purchasing an additional 403,201 shares during the last quarter. 46.14% of the stock is currently 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.