Navitas Semiconductor (NASDAQ:NVTS) Trading Down 1.4% – Time to Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS) traded down 1.4% on Wednesday . The stock traded as low as $7.11 and last traded at $7.14. 8,128,665 shares were traded during trading, a decline of 68% from the average session volume of 25,433,068 shares. The stock had previously closed at $7.24.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NVTS. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Wednesday, October 8th. Rosenblatt Securities reissued a “neutral” rating and issued a $8.00 price objective on shares of Navitas Semiconductor in a research note on Monday, November 10th. Needham & Company LLC increased their target price on Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Jefferies Financial Group raised Navitas Semiconductor to a “hold” rating in a report on Tuesday, October 28th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Navitas Semiconductor has a consensus rating of “Hold” and an average target price of $6.48.

Navitas Semiconductor Trading Down 1.4%

The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -11.16 and a beta of 3.14. The company has a 50 day moving average price of $9.23 and a 200 day moving average price of $8.03.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $10.11 million for the quarter, compared to analysts’ expectations of $10.00 million. Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.The firm’s quarterly revenue was down 53.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) earnings per share. Equities analysts predict that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Insider Activity at Navitas Semiconductor

In related news, Director Dipender Saluja sold 873,488 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $8.10, for a total transaction of $7,075,252.80. Following the completion of the sale, the director directly owned 4,755,536 shares of the company’s stock, valued at $38,519,841.60. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gary Kent Wunderlich, Jr. sold 49,651 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $9.31, for a total transaction of $462,250.81. Following the completion of the transaction, the director owned 86,964 shares in the company, valued at $809,634.84. This represents a 36.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,426,898 shares of company stock worth $29,360,063 over the last 90 days. Insiders own 29.90% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors have recently made changes to their positions in the stock. Allworth Financial LP increased its holdings in Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after purchasing an additional 2,698 shares during the last quarter. Cranbrook Wealth Management LLC acquired a new position in shares of Navitas Semiconductor during the 2nd quarter worth about $25,000. NewEdge Advisors LLC increased 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 acquiring an additional 2,942 shares during the last quarter. CWM LLC increased its stake in shares of Navitas Semiconductor by 24.7% in the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after acquiring an additional 893 shares during the last quarter. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of Navitas Semiconductor in the 2nd quarter valued at approximately $33,000. 46.14% of the stock is 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.