Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 2.3% – Here’s Why

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) fell 2.3% on Friday . The stock traded as low as $16.80 and last traded at $17.30. Approximately 24,200,343 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 28,795,420 shares. The stock had previously closed at $17.70.

Analyst Ratings Changes

Several research firms have recently issued reports on NVTS. Morgan Stanley reiterated an “underweight” rating and set a $13.70 price objective on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Robert W. Baird lifted their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Finally, Rosenblatt Securities boosted their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock 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 given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Navitas Semiconductor has an average rating of “Hold” and an average target price of $14.74.

Navitas Semiconductor Stock Performance

The firm has a fifty day simple moving average of $21.48 and a two-hundred day simple moving average of $13.34. The firm has a market cap of $4.04 billion, a PE ratio of -27.46 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (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 company had revenue of $8.60 million for the quarter, compared to the consensus estimate of $8.22 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Navitas Semiconductor’s revenue was down 38.7% on a year-over-year basis. Equities analysts forecast that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, Director Ranbir Singh sold 3,060,118 shares of Navitas Semiconductor stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the completion of the transaction, the director directly owned 15,607,533 shares of the company’s stock, valued at $457,144,641.57. The trade was a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard J. Hendrix sold 110,165 shares of the business’s 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 transaction, the director owned 101,709 shares in the company, valued at $2,945,492.64. This trade represents a 52.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,989,478 shares of company stock worth $116,356,387 in the last 90 days. 12.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC boosted its position in shares of 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 buying an additional 1,150 shares during the period. Russell Investments Group Ltd. increased its holdings in Navitas Semiconductor by 12.6% during the 4th 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 period. Captrust Financial Advisors grew its position 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 worth $300,000 after buying an additional 1,667 shares in the last quarter. Wealthcare Advisory Partners LLC increased its stake in shares of Navitas Semiconductor by 16.8% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock valued at $86,000 after buying an additional 1,725 shares during the period. Finally, Osaic Holdings Inc. increased its stake in shares of Navitas Semiconductor by 3.9% during the fourth quarter. Osaic Holdings Inc. now owns 46,304 shares of the company’s stock valued at $331,000 after buying an additional 1,743 shares during the period. 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.