Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 4.3% – Time to Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS) dropped 4.3% on Tuesday . The stock traded as low as $9.94 and last traded at $10.0410. Approximately 8,320,468 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 24,049,465 shares. The stock had previously closed at $10.49.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NVTS shares. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Thursday, January 22nd. Rosenblatt Securities reiterated a “neutral” rating and set a $7.00 target price on shares of Navitas Semiconductor in a research report on Thursday, March 12th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor currently has an average rating of “Reduce” and a consensus target price of $6.78.

Navitas Semiconductor Stock Performance

The company has a fifty day simple moving average of $9.30 and a two-hundred day simple moving average of $8.91. The firm has a market capitalization of $2.28 billion, a PE ratio of -17.37 and a beta of 3.16.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $7.30 million for the quarter, compared to analyst estimates of $6.95 million. Navitas Semiconductor had a negative return on equity of 14.52% and a negative net margin of 254.71%.The business’s revenue for the quarter was down 59.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) earnings per share. On average, equities analysts anticipate that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other news, CEO Chris Allexandre sold 9,236 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total transaction of $82,477.48. Following the transaction, the chief executive officer directly owned 813,323 shares in the company, valued at approximately $7,262,974.39. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Todd Glickman sold 12,532 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $9.82, for a total transaction of $123,064.24. Following the transaction, the chief financial officer directly owned 833,383 shares in the company, valued at approximately $8,183,821.06. The trade was a 1.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 410,864 shares of company stock valued at $3,909,736. Company insiders own 29.90% of the company’s stock.

Institutional Trading of Navitas Semiconductor

A number of hedge funds have recently bought and sold shares of the stock. Allworth Financial LP increased its holdings in shares of Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after acquiring an additional 2,698 shares during the period. NewEdge Advisors LLC boosted its position in Navitas Semiconductor by 189.8% during 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 in the last quarter. CWM LLC grew its stake in Navitas Semiconductor by 24.7% in the third quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after purchasing an additional 893 shares during the last quarter. GAMMA Investing LLC grew its stake in Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after purchasing an additional 2,548 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Navitas Semiconductor by 1,376.3% in the third quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock worth $38,000 after purchasing an additional 4,927 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.