Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Down – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price gapped down before the market opened on Friday . The stock had previously closed at $14.18, but opened at $13.56. Navitas Semiconductor shares last traded at $13.4310, with a volume of 1,758,804 shares traded.

Wall Street Analysts Forecast Growth

NVTS has been the topic of a number of research analyst reports. Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Rosenblatt Securities upped their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Morgan Stanley reiterated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Needham & Company LLC lifted their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.74.

Navitas Semiconductor Trading Down 6.3%

The company has a market capitalization of $3.11 billion, a P/E ratio of -21.09 and a beta of 3.82. The business has a 50 day moving average price of $21.42 and a 200 day moving average price of $13.81.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The business’s quarterly revenue was down 38.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. On average, analysts forecast that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 110,165 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the completion of the sale, the director owned 101,709 shares of the company’s stock, valued at $2,945,492.64. This represents a 52.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ranbir Singh sold 664,058 shares of the stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,989,478 shares of company stock worth $116,356,387 over the last three months. 12.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NVTS. Allworth Financial LP raised its holdings in Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after acquiring an additional 2,698 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Navitas Semiconductor by 189.8% in the 2nd 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 in the last quarter. Beaird Harris Wealth Management LLC grew its position in Navitas Semiconductor by 247.8% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock worth $31,000 after acquiring an additional 1,239 shares during the last quarter. GAMMA Investing LLC grew its holdings in Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after acquiring an additional 2,548 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of 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 owned by institutional investors and hedge funds.

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.