Navitas Semiconductor (NASDAQ:NVTS) Trading Down 8.4% – Should You Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price was down 8.4% during mid-day trading on Friday . The stock traded as low as $11.43 and last traded at $11.46. 8,190,414 shares were traded during mid-day trading, a decline of 67% from the average session volume of 25,043,342 shares. The stock had previously closed at $12.51.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Robert W. Baird lifted their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Morgan Stanley restated an “underweight” rating and set a $12.60 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Jefferies Financial Group set a $13.00 price target on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Finally, Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.92.

Navitas Semiconductor Stock Down 9.5%

The stock has a fifty day moving average price of $13.94 and a two-hundred day moving average price of $14.66. The company has a market cap of $2.96 billion, a price-to-earnings ratio of -8.51 and a beta of 3.86.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The business had revenue of $10.53 million during the quarter, compared to analysts’ expectations of $9.97 million. During the same quarter in the prior year, the business posted ($0.25) earnings per share. Navitas Semiconductor’s revenue was down 27.3% compared to the same quarter last year. Analysts predict that Navitas Semiconductor Corporation will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds have recently made changes to their positions in NVTS. American Century Companies Inc. boosted its position in Navitas Semiconductor by 104.8% during the second quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock valued at $1,581,000 after acquiring an additional 123,577 shares during the last quarter. Prudential Financial Inc. acquired a new position in Navitas Semiconductor in the second quarter valued at approximately $120,000. New York State Common Retirement Fund lifted its stake in Navitas Semiconductor by 102.7% in the second quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock valued at $264,000 after buying an additional 20,400 shares during the period. Invesco Ltd. boosted its holdings in shares of Navitas Semiconductor by 75.2% during the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock worth $20,999,000 after buying an additional 1,376,205 shares in the last quarter. Finally, Baird Financial Group Inc. grew its position in shares of Navitas Semiconductor by 2,514.3% during the 2nd quarter. Baird Financial Group Inc. now owns 419,237 shares of the company’s stock worth $2,746,000 after buying an additional 403,201 shares during the period. 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.