Navitas Semiconductor (NASDAQ:NVTS) Shares Down 12.3% – Time to Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price was down 12.3% during trading on Tuesday . The stock traded as low as $9.43 and last traded at $10.01. 28,622,227 shares were traded during mid-day trading, an increase of 7% from the average daily volume of 26,874,152 shares. The stock had previously closed at $11.41.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley restated an “underweight” rating and issued a $12.60 price target on shares of Navitas Semiconductor in a research note on Tuesday. Robert W. Baird increased their price objective 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, Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Navitas Semiconductor in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Navitas Semiconductor presently has a consensus rating of “Hold” and a consensus price target of $14.27.

Navitas Semiconductor Price Performance

The company has a market cap of $2.57 billion, a P/E ratio of -8.28 and a beta of 3.82. The firm’s 50-day moving average is $19.38 and its two-hundred day moving average is $14.18.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, July 27th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The business had revenue of $10.53 million during the quarter, compared to analyst estimates of $9.97 million. During the same quarter last year, the business earned ($0.25) earnings per share. Navitas Semiconductor’s quarterly revenue was down 27.3% compared to the same quarter last year. As a group, sell-side analysts expect that Navitas Semiconductor Corporation will post -0.38 EPS for the current year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, 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 sale, the director directly owned 15,607,533 shares of the company’s stock, valued at $457,144,641.57. The trade was a 16.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard J. Hendrix sold 110,165 shares of the company’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 value of $3,190,378.40. Following the sale, the director owned 101,709 shares in the company, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,989,478 shares of company stock worth $116,356,387 in the last 90 days. 12.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Large investors have recently modified their holdings of the stock. DNB Asset Management AS purchased a new position in Navitas Semiconductor during the fourth quarter worth $774,000. UBS Group AG increased its position in 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 acquiring an additional 1,875,228 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in Navitas Semiconductor by 1,425.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company’s stock valued at $949,000 after acquiring an additional 124,164 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Navitas Semiconductor in the fourth quarter valued at $484,000. Finally, Integrity Alliance LLC. purchased a new stake in shares of Navitas Semiconductor in the fourth quarter valued at $280,000. 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.