Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 8.2% – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS) was down 8.2% during mid-day trading on Tuesday . The stock traded as low as $13.35 and last traded at $13.3860. Approximately 5,071,273 shares were traded during mid-day trading, a decline of 80% from the average session volume of 25,639,027 shares. The stock had previously closed at $14.58.

Analyst Ratings Changes

Several brokerages recently commented on NVTS. Needham & Company LLC reiterated a “buy” rating and set a $21.00 price target on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 target price on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Morgan Stanley reaffirmed an “underweight” rating and set a $12.60 price objective on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, 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. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Navitas Semiconductor has a consensus rating of “Hold” and an average target price of $15.92.

Navitas Semiconductor Trading Down 2.6%

The company has a market capitalization of $3.35 billion, a PE ratio of -9.65 and a beta of 3.86. The company has a fifty day simple moving average of $15.18 and a 200-day simple moving average of $14.48.

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

Insider Activity

In other news, Director Richard J. Hendrix sold 110,165 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total transaction of $423,804.63. Following the sale, the chief executive officer directly owned 1,072,633 shares in the company, valued at approximately $34,120,455.73. The trade was a 1.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,989,478 shares of company stock valued at $116,356,387 over the last three months. 12.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Large investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its position in shares of Navitas Semiconductor by 104.8% during the 2nd quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock worth $1,581,000 after purchasing an additional 123,577 shares during the period. Prudential Financial Inc. acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at approximately $120,000. New York State Common Retirement Fund raised its position 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 purchasing an additional 20,400 shares during the period. Invesco Ltd. raised its position in Navitas Semiconductor by 75.2% in the second quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock valued at $20,999,000 after purchasing an additional 1,376,205 shares during the period. Finally, Baird Financial Group Inc. lifted its stake in Navitas Semiconductor by 2,514.3% during the second quarter. Baird Financial Group Inc. now owns 419,237 shares of the company’s stock worth $2,746,000 after purchasing an additional 403,201 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

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.