Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 6.7% – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price was down 6.7% during trading on Tuesday . The company traded as low as $20.70 and last traded at $22.85. Approximately 42,474,665 shares were traded during trading, an increase of 46% from the average daily volume of 29,119,379 shares. The stock had previously closed at $24.48.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NVTS shares. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings lowered Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Needham & Company LLC lifted their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Robert W. Baird lifted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.87.

Navitas Semiconductor Trading Down 6.7%

The company has a 50 day moving average price of $17.95 and a 200-day moving average price of $12.06. The company has a market cap of $5.34 billion, a P/E ratio of -36.27 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating 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 the consensus estimate of $8.22 million. During the same quarter last year, the business posted ($0.06) EPS. Navitas Semiconductor’s revenue for the quarter was down 38.7% on a year-over-year basis. Equities analysts expect that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Activity at Navitas Semiconductor

In related news, Director Ranbir Singh sold 664,058 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.72, for a total transaction of $19,071,745.76. Following the sale, the director owned 14,943,475 shares of the company’s stock, valued at $429,176,602. This trade represents a 4.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Chris Allexandre sold 13,323 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 1,072,633 shares in the company, valued at approximately $34,120,455.73. This trade represents a 1.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,087,630 shares of company stock worth $117,414,466 over the last 90 days. 12.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Navitas Semiconductor by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock valued at $104,896,000 after acquiring an additional 1,330,703 shares in the last quarter. State Street Corp lifted its holdings in Navitas Semiconductor by 18.0% during the 4th quarter. State Street Corp now owns 8,597,950 shares of the company’s stock worth $61,389,000 after buying an additional 1,308,626 shares during the period. Invesco Ltd. lifted its holdings in Navitas Semiconductor by 257.8% during the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after buying an additional 3,413,394 shares during the period. Geode Capital Management LLC lifted its holdings in Navitas Semiconductor by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock worth $31,546,000 after buying an additional 501,110 shares during the period. Finally, UBS Group AG lifted its holdings in Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after buying an additional 1,875,228 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.