Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Down – What’s Next?

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s stock price gapped down prior to trading on Wednesday. The stock had previously closed at $10.45, but opened at $9.97. Navitas Semiconductor shares last traded at $9.7230, with a volume of 4,812,032 shares changing hands.

Wall Street Analyst Weigh In

NVTS has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Monday, September 14th. Morgan Stanley reissued an “underweight” rating and set a $12.60 price target on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Wall Street Zen lowered shares of Navitas Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Needham & Company LLC reissued a “buy” rating and issued a $21.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, Jefferies Financial Group set a $13.00 price target on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.92.

Navitas Semiconductor Stock Performance

The company has a 50 day moving average price of $12.05 and a 200 day moving average price of $15.24. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -7.14 and a beta of 3.96.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Monday, July 27th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%. The business had revenue of $10.53 million during the quarter, compared to analyst estimates of $9.97 million. During the same period last year, the business posted ($0.25) earnings per share. The company’s quarterly revenue was down 27.3% on a year-over-year basis. On average, research analysts forecast that Navitas Semiconductor Corporation will post -0.31 earnings per share for the current year.

Institutional Trading of Navitas Semiconductor

Hedge funds have recently made changes to their positions in the business. Lodestone Wealth Management LLC increased its stake in Navitas Semiconductor by 12.7% during the 3rd quarter. Lodestone Wealth Management LLC now owns 18,772 shares of the company’s stock worth $218,000 after buying an additional 2,115 shares during the period. GAMMA Investing LLC lifted its holdings in Navitas Semiconductor by 23.6% during the 3rd quarter. GAMMA Investing LLC now owns 7,117 shares of the company’s stock worth $83,000 after buying an additional 1,359 shares in the last quarter. Private Capital Advisors Inc. acquired a new stake in Navitas Semiconductor during the 3rd quarter worth approximately $149,000. Tidal Investments LLC lifted its holdings in Navitas Semiconductor by 161.2% during the 2nd quarter. Tidal Investments LLC now owns 1,132,184 shares of the company’s stock worth $20,289,000 after buying an additional 698,683 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its position in Navitas Semiconductor by 180.5% in the 2nd quarter. Engineers Gate Manager LP now owns 117,293 shares of the company’s stock valued at $2,102,000 after buying an additional 75,478 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation is a fabless semiconductor company that develops power-management technologies based on gallium nitride (GaN) and silicon carbide (SiC). Its products are designed to improve the efficiency, power density and size of electronic power systems by integrating power semiconductors with control, drive and protection circuitry.

The company offers GaN power integrated circuits, SiC MOSFETs and related power-management solutions for applications including mobile and consumer chargers, data centers, solar and energy-storage systems, electric vehicles, industrial equipment and other high-power systems.