Navitas Semiconductor (NASDAQ:NVTS) Shares Down 7.8% – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price traded down 7.8% during mid-day trading on Wednesday . The company traded as low as $16.46 and last traded at $16.53. 15,058,910 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 28,498,412 shares. The stock had previously closed at $17.92.

Analysts Set New Price Targets

NVTS has been the subject of a number of research reports. Robert W. Baird lifted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. 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 increased their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.74.

Navitas Semiconductor Price Performance

The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -22.95 and a beta of 3.82. The stock’s fifty day simple moving average is $21.75 and its two-hundred day simple moving average is $13.58.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate 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 business 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 posted ($0.06) EPS. The company’s quarterly revenue was down 38.7% on a year-over-year basis. On average, sell-side analysts predict that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the transaction, the chief executive officer directly owned 1,072,633 shares in the company, valued at $34,120,455.73. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard J. Hendrix sold 110,165 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total value of $3,190,378.40. Following the sale, the director owned 101,709 shares in the company, valued at $2,945,492.64. The trade was a 52.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 3,989,478 shares of company stock worth $116,356,387. Insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its position in shares of Navitas Semiconductor by 257.8% during the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after acquiring an additional 3,413,394 shares during the last quarter. Marex Group plc increased its holdings in shares of Navitas Semiconductor by 22,203.8% in the 4th quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock worth $19,100,000 after acquiring an additional 2,663,119 shares during the period. Vanguard Group Inc. lifted its position in Navitas Semiconductor by 23.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock valued at $96,464,000 after purchasing an additional 2,550,613 shares during the last quarter. Ghisallo Capital Management LLC bought a new stake in Navitas Semiconductor in the 4th quarter valued at about $15,867,000. Finally, UBS Group AG lifted its position in Navitas Semiconductor by 131.0% in the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after purchasing an additional 1,875,228 shares during the last quarter. 46.14% of the stock is currently owned by institutional investors.

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.