Navitas Semiconductor (NASDAQ:NVTS) Shares Down 10.3% – Time to Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price dropped 10.3% during trading on Wednesday . The stock traded as low as $20.41 and last traded at $20.50. Approximately 29,571,259 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 29,127,227 shares. The stock had previously closed at $22.85.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Rosenblatt Securities increased their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Morgan Stanley reissued an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Weiss Ratings cut Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Needham & Company LLC raised their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Navitas Semiconductor currently has an average rating of “Hold” and an average target price of $12.87.

Navitas Semiconductor Price Performance

The stock has a market cap of $5.47 billion, a P/E ratio of -37.13 and a beta of 3.75. The company has a fifty day moving average of $18.76 and a 200 day moving average of $12.37.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results 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 return on equity of 14.30% and a negative net margin of 330.67%.The firm had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The firm’s quarterly 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.

Insider Activity

In related news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 2,375,060 shares of the company’s stock, valued at $66,834,188.40. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total transaction of $423,804.63. Following the completion of the transaction, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,087,630 shares of company stock valued at $117,414,466 over the last 90 days. Corporate insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Navitas Semiconductor by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock worth $104,896,000 after buying an additional 1,330,703 shares during the last quarter. State Street Corp grew its position in Navitas Semiconductor by 18.0% in the fourth 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 last quarter. Invesco Ltd. grew its position in Navitas Semiconductor by 257.8% in the fourth 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 last quarter. Geode Capital Management LLC grew its position in Navitas Semiconductor by 12.8% in the fourth 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 last quarter. Finally, UBS Group AG grew its position in Navitas Semiconductor by 131.0% in the fourth 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 last quarter. 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.