Navitas Semiconductor (NASDAQ:NVTS) Trading Down 3.4% – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price dropped 3.4% on Friday . The company traded as low as $7.29 and last traded at $7.40. Approximately 7,587,620 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 25,640,330 shares. The stock had previously closed at $7.66.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities reissued a “neutral” rating and set a $8.00 target price on shares of Navitas Semiconductor in a research report on Monday, November 10th. Needham & Company LLC increased their price target on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Jefferies Financial Group upgraded shares of Navitas Semiconductor to a “hold” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.48.

Navitas Semiconductor Stock Down 3.4%

The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -11.56 and a beta of 3.14. The stock has a fifty day moving average price of $9.73 and a 200-day moving average price of $8.04.

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). The business had revenue of $10.11 million for the quarter, compared to the consensus estimate of $10.00 million. Navitas Semiconductor had a negative net margin of 220.85% and a negative return on equity of 14.86%. The business’s quarterly revenue was down 53.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. As a group, research analysts expect that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Dipender Saluja sold 873,488 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $8.10, for a total value of $7,075,252.80. Following the completion of the sale, the director owned 4,755,536 shares in the company, valued at $38,519,841.60. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Long sold 48,165 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $8.50, for a total transaction of $409,402.50. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,426,898 shares of company stock valued at $29,360,063 in the last quarter. Corporate insiders own 29.90% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors have recently modified their holdings of the company. Cranbrook Wealth Management LLC purchased a new position in Navitas Semiconductor in the 2nd quarter valued at approximately $25,000. Allworth Financial LP boosted its position in Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after purchasing an additional 2,698 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after purchasing an additional 2,942 shares during the last quarter. ST Germain D J Co. Inc. purchased a new position in shares of Navitas Semiconductor in the second quarter valued at $33,000. Finally, CWM LLC raised its stake in shares of Navitas Semiconductor by 24.7% during the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after buying an additional 893 shares during the last quarter. 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.