Navitas Semiconductor (NASDAQ:NVTS) Shares Down 4.5% – Time to Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price traded down 4.5% on Wednesday . The company traded as low as $12.66 and last traded at $13.36. 19,104,102 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 28,231,711 shares. The stock had previously closed at $13.99.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley reaffirmed an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Needham & Company LLC lifted their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Robert W. Baird upped 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. Two investment 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.com, Navitas Semiconductor currently has a consensus rating of “Hold” and a consensus target price of $14.74.

Navitas Semiconductor Stock Performance

The company has a 50-day moving average of $21.54 and a 200-day moving average of $13.73. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -21.29 and a beta of 3.82.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The firm had revenue of $8.60 million for the quarter, compared to the consensus estimate of $8.22 million. During the same period last year, the company posted ($0.06) EPS. The business’s quarterly revenue was down 38.7% on a year-over-year basis. As a group, analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.14, for a total transaction of $989,543.10. Following the completion of the transaction, the director owned 2,375,060 shares in the company, valued at approximately $66,834,188.40. This represents a 1.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the sale, the chief executive officer directly owned 1,072,633 shares in the company, valued at $34,120,455.73. This represents a 1.23% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. Insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in Navitas Semiconductor by 17.2% in the 1st quarter. Bank of America Corp DE now owns 826,674 shares of the company’s stock valued at $7,250,000 after acquiring an additional 121,162 shares in the last quarter. Arkadios Wealth Advisors bought a new position in shares of Navitas Semiconductor during the 1st quarter worth approximately $123,000. California State Teachers Retirement System grew its stake in shares of Navitas Semiconductor by 39.8% during the 1st quarter. California State Teachers Retirement System now owns 227,220 shares of the company’s stock worth $1,993,000 after acquiring an additional 64,643 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Navitas Semiconductor by 12.5% in the first quarter. The Manufacturers Life Insurance Company now owns 93,115 shares of the company’s stock valued at $817,000 after purchasing an additional 10,323 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in shares of Navitas Semiconductor in the first quarter valued at approximately $160,000. 46.14% of the stock is currently owned by institutional investors.

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.