Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 3.4% – Should You Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price dropped 3.4% on Thursday . The company traded as low as $17.22 and last traded at $17.70. Approximately 21,495,209 shares were traded during trading, a decline of 25% from the average session volume of 28,846,234 shares. The stock had previously closed at $18.32.

Wall Street Analyst Weigh In

NVTS has been the subject of several recent research reports. Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. 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 report on Monday, May 4th. Morgan Stanley reissued an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Rosenblatt Securities lifted their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Two 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 data from MarketBeat, Navitas Semiconductor currently has an average rating of “Hold” and an average price target of $14.74.

Navitas Semiconductor Price Performance

The company has a market capitalization of $4.14 billion, a PE ratio of -28.10 and a beta of 3.75. The stock’s 50 day simple moving average is $21.18 and its 200-day simple moving average is $13.26.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The firm had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $8.22 million. During the same period in the prior year, the firm earned ($0.06) EPS. The business’s revenue was down 38.7% on a year-over-year basis. On average, equities analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Transactions at Navitas Semiconductor

In related news, Director Richard J. Hendrix sold 110,165 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was 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 of the company’s stock, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ranbir Singh sold 664,058 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.72, for a total transaction of $19,071,745.76. Following the sale, the director owned 14,943,475 shares in the company, valued at $429,176,602. This trade represents a 4.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. Corporate insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NVTS. DNB Asset Management AS bought a new stake in shares of Navitas Semiconductor during the fourth quarter worth $774,000. UBS Group AG grew its position in shares of Navitas Semiconductor by 131.0% in 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 bought a new stake in Navitas Semiconductor in the 3rd quarter valued at about $960,000. Newbridge Financial Services Group Inc. raised its stake in Navitas Semiconductor by 1,425.5% in the fourth 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 in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Navitas Semiconductor in the fourth quarter valued at about $484,000. Institutional investors and hedge funds 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.