Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 2.4% – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price was down 2.4% during mid-day trading on Monday . The company traded as low as $23.96 and last traded at $24.48. Approximately 28,805,799 shares were traded during trading, a decline of 1% from the average daily volume of 28,994,441 shares. The stock had previously closed at $25.08.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NVTS. Needham & Company LLC upped their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Robert W. Baird upped their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Rosenblatt Securities upped their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings lowered shares of Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Two investment 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.com, the company presently has an average rating of “Hold” and an average price target of $12.87.

Navitas Semiconductor Trading Down 2.4%

The business’s fifty day moving average is $17.64 and its 200 day moving average is $11.95. The firm has a market capitalization of $5.72 billion, a P/E ratio of -38.86 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned ($0.06) EPS. The business’s revenue for the quarter was down 38.7% on a year-over-year basis. As a group, sell-side analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 110,165 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the sale, the director owned 101,709 shares in the company, valued at $2,945,492.64. The trade was a 52.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.14, for a total transaction of $989,543.10. Following the sale, the director owned 2,375,060 shares in the company, valued at $66,834,188.40. This represents a 1.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,087,630 shares of company stock valued at $117,414,466 over the last three months. 12.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc increased its stake in Navitas Semiconductor by 3.8% in the 3rd quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock valued at $219,000 after buying an additional 1,120 shares during the period. Kestra Advisory Services LLC increased its stake in Navitas Semiconductor by 2.8% in the 1st quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock valued at $370,000 after buying an additional 1,150 shares during the period. Russell Investments Group Ltd. increased its stake in Navitas Semiconductor by 12.6% in the 4th quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock valued at $96,000 after buying an additional 1,505 shares during the period. Captrust Financial Advisors increased its stake in Navitas Semiconductor by 3.8% in the 2nd quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock valued at $300,000 after buying an additional 1,667 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its position in Navitas Semiconductor by 16.8% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock worth $86,000 after acquiring an additional 1,725 shares in the last quarter. 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.