Navitas Semiconductor (NASDAQ:NVTS) Shares Down 8.4% – What’s Next?

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NVTS. Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Needham & Company LLC reissued a “buy” rating and issued a $21.00 price target on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Morgan Stanley reaffirmed an “underweight” rating and set a $12.60 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, 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. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.92.

Navitas Semiconductor Stock Performance

The company has a market cap of $3.00 billion, a PE ratio of -8.64 and a beta of 3.86. The firm’s 50 day moving average is $13.69 and its 200-day moving average is $14.64.

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

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DNB Asset Management AS purchased a new position in Navitas Semiconductor in the fourth quarter worth approximately $774,000. Bank of New York Mellon Corp raised its position in Navitas Semiconductor by 21.8% in the first quarter. Bank of New York Mellon Corp now owns 566,465 shares of the company’s stock valued at $4,968,000 after purchasing an additional 101,389 shares during the period. UBS Group AG raised its position in Navitas Semiconductor by 131.0% in the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after purchasing an additional 1,875,228 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Navitas Semiconductor in the 4th quarter valued at $484,000. Finally, Old West Investment Management LLC acquired a new position in shares of Navitas Semiconductor in the 2nd quarter valued at $7,658,000. 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.