Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 11.4% – Here’s What Happened

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) were down 11.4% during trading on Thursday . The stock traded as low as $9.02 and last traded at $9.0250. Approximately 7,111,830 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 29,565,793 shares. The stock had previously closed at $10.19.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NVTS. Needham & Company LLC increased their target price on Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Rosenblatt Securities reissued a “neutral” rating and issued a $8.00 price objective on shares of Navitas Semiconductor in a research report on Monday, November 10th. Jefferies Financial Group raised shares of Navitas Semiconductor to a “hold” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $6.48.

Navitas Semiconductor Price Performance

The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -13.41 and a beta of 3.16. The stock’s 50 day simple moving average is $8.90 and its two-hundred day simple moving average is $8.51.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). Navitas Semiconductor had a negative net margin of 220.85% and a negative return on equity of 14.86%. The business had revenue of $10.11 million for the quarter, compared to analyst estimates of $10.00 million. During the same period in the previous year, the business earned ($0.10) EPS. The firm’s revenue was down 53.4% on a year-over-year basis. As a group, analysts predict that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Insiders Place Their Bets

In other Navitas Semiconductor news, Director Dipender Saluja sold 873,488 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $8.10, for a total transaction of $7,075,252.80. Following the completion of the transaction, the director directly owned 4,755,536 shares in the company, valued at $38,519,841.60. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian Long sold 1,493,046 shares of Navitas Semiconductor stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $8.54, for a total value of $12,750,612.84. Following the transaction, the director directly owned 222,349 shares of the company’s stock, valued at approximately $1,898,860.46. The trade was a 87.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,426,898 shares of company stock worth $29,360,063 in the last 90 days. 29.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Navitas Semiconductor by 23.6% in the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock valued at $96,464,000 after acquiring an additional 2,550,613 shares during the last quarter. UBS Group AG increased its holdings in Navitas Semiconductor by 131.0% during the 4th 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 in the last quarter. Jump Financial LLC bought a new position in Navitas Semiconductor in the 3rd quarter valued at $11,243,000. BNP Paribas Financial Markets boosted its stake in Navitas Semiconductor by 1,332.3% in the second quarter. BNP Paribas Financial Markets now owns 1,604,538 shares of the company’s stock worth $10,510,000 after purchasing an additional 1,492,512 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Navitas Semiconductor by 75.2% during the second quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock worth $20,999,000 after purchasing an additional 1,376,205 shares during the last quarter. Institutional investors and hedge funds 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.