Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Down – Should You Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price gapped down prior to trading on Friday . The stock had previously closed at $14.18, but opened at $13.56. Navitas Semiconductor shares last traded at $13.4310, with a volume of 1,758,804 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley reissued an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. 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. Needham & Company LLC boosted 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. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.74.

Navitas Semiconductor Trading Down 6.3%

The firm has a 50-day moving average price of $21.42 and a 200 day moving average price of $13.81. The company has a market cap of $3.11 billion, a price-to-earnings ratio of -21.09 and a beta of 3.82.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping 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 analysts’ expectations of $8.22 million. During the same period in the prior year, the company earned ($0.06) earnings per share. The firm’s revenue was down 38.7% compared to the same quarter last year. Research analysts anticipate that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Ranbir Singh sold 664,058 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.72, for a total transaction of $19,071,745.76. Following the completion of the transaction, the director owned 14,943,475 shares of the company’s stock, valued at approximately $429,176,602. The trade was a 4.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.14, for a total transaction of $989,543.10. Following the transaction, the director directly owned 2,375,060 shares of the company’s stock, valued at $66,834,188.40. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. 12.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Navitas Semiconductor by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock worth $104,896,000 after acquiring an additional 1,330,703 shares in the last quarter. State Street Corp increased its stake in Navitas Semiconductor by 18.0% in the 4th quarter. State Street Corp now owns 8,597,950 shares of the company’s stock valued at $61,389,000 after buying an additional 1,308,626 shares during the period. Invesco Ltd. raised its holdings 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of Navitas Semiconductor by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock worth $31,546,000 after purchasing an additional 501,110 shares in the last quarter. Finally, UBS Group AG raised its position in Navitas Semiconductor by 131.0% during the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after acquiring an additional 1,875,228 shares in the last quarter. 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.