Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 9.2% – Time to Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares traded down 9.2% during mid-day trading on Wednesday . The company traded as low as $28.37 and last traded at $28.88. 35,792,929 shares changed hands during mid-day trading, an increase of 27% from the average session volume of 28,169,266 shares. The stock had previously closed at $31.79.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Rosenblatt Securities raised their price objective on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Robert W. Baird lifted their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. 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’s stock. According to data from MarketBeat, Navitas Semiconductor has an average rating of “Hold” and an average target price of $12.87.

Navitas Semiconductor Stock Down 9.2%

The firm has a market cap of $6.75 billion, a PE ratio of -45.84 and a beta of 3.62. The firm’s fifty day simple moving average is $14.72 and its two-hundred day simple moving average is $10.87.

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

Insider Transactions at Navitas Semiconductor

In other news, Director Ranbir Singh sold 389,096 shares of the business’s stock in a transaction 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 filing with the SEC, which is available at the SEC website. Also, CEO Chris Allexandre sold 9,236 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was 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 directly owned 813,323 shares in the company, valued at $7,262,974.39. This trade represents a 1.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 509,016 shares of company stock valued at $4,967,814. 12.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings in shares of Navitas Semiconductor by 17.2% in the first quarter. Bank of America Corp DE now owns 826,674 shares of the company’s stock worth $7,250,000 after buying an additional 121,162 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in shares of Navitas Semiconductor in the first quarter worth $123,000. California State Teachers Retirement System lifted its holdings in shares of Navitas Semiconductor by 39.8% in the first quarter. California State Teachers Retirement System now owns 227,220 shares of the company’s stock worth $1,993,000 after buying an additional 64,643 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Navitas Semiconductor by 12.5% in the first quarter. The Manufacturers Life Insurance Company now owns 93,115 shares of the company’s stock worth $817,000 after buying an additional 10,323 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in Navitas Semiconductor in the first quarter worth $160,000. Hedge funds and other institutional investors 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.