Navitas Semiconductor (NASDAQ:NVTS) Shares Down 6.5% – Time to Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price dropped 6.5% during mid-day trading on Friday . The stock traded as low as $17.68 and last traded at $17.3030. Approximately 16,105,417 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 25,155,316 shares. The stock had previously closed at $18.51.

Wall Street Analysts Forecast Growth

NVTS has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $7.00 price target on shares of Navitas Semiconductor in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.78.

Navitas Semiconductor Trading Down 6.2%

The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of -30.46 and a beta of 3.15. The company’s 50 day simple moving average is $9.76 and its 200-day simple moving average is $9.64.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 14.52%. The company had revenue of $7.30 million for the quarter, compared to analysts’ expectations of $6.95 million. During the same period last year, the company earned ($0.06) EPS. The firm’s revenue for the quarter was down 59.4% compared to the same quarter last year. Sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.26 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ranbir Singh sold 389,096 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $9.52, for a total value of $3,704,193.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Todd Glickman sold 98,152 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the completion of the sale, the chief financial officer directly owned 735,231 shares in the company, valued at $7,925,790.18. This represents a 11.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 509,016 shares of company stock valued at $4,967,814 in the last ninety days. Insiders own 29.90% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP boosted its position in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after acquiring an additional 2,698 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after acquiring an additional 2,942 shares during the last quarter. CWM LLC raised its holdings in Navitas Semiconductor by 24.7% in the third quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after buying an additional 893 shares during the period. GAMMA Investing LLC raised its holdings in Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after buying an additional 2,548 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in Navitas Semiconductor by 1,376.3% in the third quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock valued at $38,000 after buying an additional 4,927 shares during the period. 46.14% of the stock is owned by institutional investors and hedge funds.

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.