Navitas Semiconductor (NASDAQ:NVTS) Trading Down 11.4% – Time to Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares dropped 11.4% during mid-day trading on Thursday . The stock traded as low as $11.57 and last traded at $11.76. Approximately 14,923,298 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 27,550,977 shares. The stock had previously closed at $13.27.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVTS. Weiss Ratings upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Needham & Company LLC boosted their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Rosenblatt Securities boosted 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. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the 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 11.4%

The firm has a market cap of $2.75 billion, a P/E ratio of -18.67 and a beta of 3.82. The stock’s fifty day moving average is $21.15 and its two-hundred day moving average is $13.97.

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

Insiders Place Their Bets

In other news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.14, for a total transaction of $989,543.10. Following the completion of the transaction, the director owned 2,375,060 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, Director Richard J. Hendrix sold 110,165 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the completion of the transaction, the director owned 101,709 shares in the company, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC increased its position in Navitas Semiconductor by 2.8% during the first quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock valued at $370,000 after acquiring an additional 1,150 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its position 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 worth $31,000 after purchasing an additional 1,239 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Navitas Semiconductor by 12.6% in the fourth quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock worth $96,000 after purchasing an additional 1,505 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Navitas Semiconductor by 3.8% during the 2nd quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock valued at $300,000 after purchasing an additional 1,667 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its stake in shares of Navitas Semiconductor by 16.8% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock valued at $86,000 after purchasing an additional 1,725 shares during the period. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.