Navitas Semiconductor (NASDAQ:NVTS) Trading Down 14.6% – Here’s What Happened

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares dropped 14.6% during trading on Wednesday . The company traded as low as $17.42 and last traded at $18.2710. 33,517,262 shares traded hands during trading, an increase of 16% from the average session volume of 28,896,826 shares. The stock had previously closed at $21.40.

Wall Street Analysts Forecast Growth

NVTS has been the subject of several research analyst reports. Needham & Company LLC upped their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Rosenblatt Securities boosted their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Robert W. Baird raised their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.74.

Navitas Semiconductor Price Performance

The firm has a market cap of $4.27 billion, a price-to-earnings ratio of -29.00 and a beta of 3.75. The company has a fifty day moving average price of $21.01 and a two-hundred day moving average price of $13.19.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $8.60 million for the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.Navitas Semiconductor’s revenue was down 38.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) earnings per share. On average, research analysts expect 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, CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the transaction, the chief executive officer owned 1,072,633 shares of the company’s stock, valued at $34,120,455.73. The trade was a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ranbir Singh sold 3,060,118 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the completion of the sale, the director owned 15,607,533 shares in the company, valued at $457,144,641.57. The trade was a 16.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,989,478 shares of company stock worth $116,356,387. Company insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. DNB Asset Management AS acquired a new position in shares of Navitas Semiconductor in the 4th quarter worth $774,000. UBS Group AG lifted its holdings in shares of Navitas Semiconductor by 131.0% during the fourth 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 during the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Navitas Semiconductor during the third quarter valued at $960,000. Newbridge Financial Services Group Inc. boosted its position in shares of Navitas Semiconductor by 1,425.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company’s stock valued at $949,000 after purchasing an additional 124,164 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Navitas Semiconductor in the 4th quarter valued at $484,000. 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.