Navitas Semiconductor (NASDAQ:NVTS) Shares Down 1.3% – Should You Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares were down 1.3% on Monday . The company traded as low as $23.00 and last traded at $23.70. 26,559,430 shares were traded during trading, a decline of 8% from the average daily volume of 28,928,760 shares. The stock had previously closed at $24.02.

Analysts Set New Price Targets

NVTS has been the subject of several recent analyst reports. Robert W. Baird increased their price objective 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. Morgan Stanley reaffirmed an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Rosenblatt Securities lifted their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.74.

Navitas Semiconductor Trading Down 14.6%

The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of -29.00 and a beta of 3.75. The stock has a fifty day moving average of $21.01 and a 200-day moving average of $13.19.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) 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 during the quarter, compared to analyst estimates of $8.22 million. During the same period in the prior year, the firm earned ($0.06) earnings per share. The business’s quarterly revenue was down 38.7% on a year-over-year basis. As a group, equities research analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ranbir Singh sold 3,060,118 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the transaction, the director directly owned 15,607,533 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, Director Richard J. Hendrix sold 110,165 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,945,492.64. The trade was a 52.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after buying an additional 2,698 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after acquiring an additional 2,942 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after acquiring an additional 2,548 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after acquiring an additional 4,000 shares during the last quarter. Finally, State of Wyoming raised its holdings in shares of Navitas Semiconductor by 92.8% during the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after acquiring an additional 2,312 shares in the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.