Navitas Semiconductor (NASDAQ:NVTS) Shares Down 9.6% – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price fell 9.6% on Monday . The company traded as low as $19.65 and last traded at $19.2660. 7,808,901 shares were traded during trading, a decline of 71% from the average session volume of 27,167,250 shares. The stock had previously closed at $21.32.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVTS. Robert W. Baird lifted their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Needham & Company LLC lifted their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Navitas Semiconductor has a consensus rating of “Hold” and an average price target of $12.87.

Navitas Semiconductor Stock Performance

The firm’s 50 day moving average is $12.48 and its 200-day moving average is $10.22. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of -30.01 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $8.60 million for the quarter, compared to the consensus estimate of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The business’s quarterly revenue was down 38.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) EPS. As a group, research analysts predict that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insider Buying and Selling

In other news, CEO Chris Allexandre sold 9,236 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total transaction of $82,477.48. Following the completion of the transaction, the chief executive officer owned 813,323 shares of the company’s stock, valued at approximately $7,262,974.39. This represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ranbir Singh sold 389,096 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $9.52, for a total transaction of $3,704,193.92. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 509,016 shares of company stock valued at $4,967,814. 12.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Allworth Financial LP raised its position in shares of Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after buying an additional 2,698 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after buying an additional 2,942 shares during the last quarter. CWM LLC raised its position in shares of Navitas Semiconductor by 24.7% during 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 last quarter. GAMMA Investing LLC increased its stake 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 acquiring an additional 2,548 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after acquiring an additional 4,000 shares during the period. 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.