Navitas Semiconductor (NASDAQ:NVTS) Trading Down 4.2% – Time to Sell?

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) traded down 4.2% on Thursday . The company traded as low as $3.15 and last traded at $3.16. 959,093 shares were traded during trading, a decline of 70% from the average session volume of 3,187,890 shares. The stock had previously closed at $3.30.

Analyst Ratings Changes

NVTS has been the topic of a number of analyst reports. Robert W. Baird cut their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their target price on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Craig Hallum lowered their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $7.50 price target on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Trading Up 12.8 %

The firm’s 50 day simple moving average is $2.70 and its two-hundred day simple moving average is $3.15. The firm has a market cap of $592.14 million, a price-to-earnings ratio of -7.55 and a beta of 2.37.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The business had revenue of $21.68 million for the quarter, compared to the consensus estimate of $21.93 million. During the same quarter in the prior year, the business posted ($0.10) earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Insider Activity

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of Navitas Semiconductor stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $4.54, for a total transaction of $181,600.00. Following the transaction, the director now directly owns 316,709 shares of the company’s stock, valued at approximately $1,437,858.86. The trade was a 11.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 31.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds have recently bought and sold shares of NVTS. M&T Bank Corp lifted its stake in Navitas Semiconductor by 29.6% in the third quarter. M&T Bank Corp now owns 159,804 shares of the company’s stock valued at $392,000 after buying an additional 36,504 shares during the period. State Street Corp increased its holdings in shares of Navitas Semiconductor by 4.0% during the third quarter. State Street Corp now owns 5,826,638 shares of the company’s stock valued at $14,275,000 after acquiring an additional 221,575 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Navitas Semiconductor in the 3rd quarter worth $172,000. Point72 Asset Management L.P. grew its position in Navitas Semiconductor by 87.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock valued at $19,677,000 after purchasing an additional 3,748,124 shares during the period. Finally, Centiva Capital LP bought a new stake in Navitas Semiconductor during the 3rd quarter valued at $195,000. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.