Navitas Semiconductor (NASDAQ:NVTS) Shares Down 12.5% – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price traded down 12.5% during mid-day trading on Thursday . The stock traded as low as $14.03 and last traded at $14.46. Approximately 29,302,395 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 28,506,041 shares. The stock had previously closed at $16.53.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Needham & Company LLC boosted their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Robert W. Baird boosted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Weiss Ratings upgraded shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Finally, Rosenblatt Securities boosted their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.74.

Navitas Semiconductor Price Performance

The firm has a market capitalization of $3.38 billion, a P/E ratio of -22.95 and a beta of 3.82. The firm has a 50-day moving average price of $21.76 and a two-hundred day moving average price of $13.54.

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

Insider Activity at Navitas Semiconductor

In related news, Director Richard J. Hendrix sold 110,165 shares of the firm’s stock in a transaction on 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 completion of the transaction, 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 legal filing with the SEC, which is available at this link. Also, Director Ranbir Singh sold 3,060,118 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the sale, the director 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVTS. Invesco Ltd. boosted its holdings in shares of Navitas Semiconductor by 257.8% during the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after purchasing an additional 3,413,394 shares during the last quarter. Marex Group plc raised its holdings in Navitas Semiconductor by 22,203.8% in the 4th quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock valued at $19,100,000 after buying an additional 2,663,119 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Navitas Semiconductor by 23.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock worth $96,464,000 after acquiring an additional 2,550,613 shares during the last quarter. Ghisallo Capital Management LLC purchased a new position in shares of Navitas Semiconductor during the fourth quarter worth $15,867,000. Finally, UBS Group AG grew its position in Navitas Semiconductor by 131.0% in the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after acquiring an additional 1,875,228 shares in the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.