Navitas Semiconductor (NASDAQ:NVTS) Shares Down 1.3% - Here's What Happened

Key Points

• Navitas Semiconductor shares fell 1.3% on Monday, trading between $23.00 and $23.70 as volume came in below average at about 26.6 million shares.
• Analysts have turned more optimistic, with multiple firms raising price targets and ratings; the stock now carries a consensus Hold rating and an average target price of $14.74.
• Recent earnings and insider activity were mixed: Navitas beat EPS and revenue estimates for the latest quarter, but revenue still fell 38.7% year over year, while several insiders sold shares in recent weeks.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) shares were down 1.3% during trading on Monday . The stock traded as low as $23.00 and last traded at $23.70. Approximately 26,559,430 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 28,928,760 shares. The stock had previously closed at $24.02.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NVTS. Robert W. Baird upped their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Weiss Ratings raised shares of Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday. Needham & Company LLC boosted their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Rosenblatt Securities increased their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Navitas Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $14.74.

Navitas Semiconductor Trading Down 1.3%

The business has a 50-day moving average price of $20.49 and a two-hundred day moving average price of $13.00. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of -37.62 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $8.60 million during 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%.The business's revenue for the quarter was down 38.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) EPS. On average, equities research analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard J. Hendrix sold 110,165 shares of the 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 completion of the transaction, the director directly owned 101,709 shares of the company's stock, valued at $2,945,492.64. This represents a 52.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.11, for a total value of $2,052,030.00. Following the completion of the transaction, the director directly owned 13,964 shares of the company's stock, valued at $392,528.04. This trade represents a 83.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,989,478 shares of company stock worth $116,356,387 over the last ninety days. Insiders own 12.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its holdings in Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company's stock worth $26,000 after acquiring an additional 2,698 shares during the period. NewEdge Advisors LLC lifted its holdings in Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company's stock valued at $29,000 after acquiring an additional 2,942 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company's stock valued at $34,000 after acquiring an additional 2,548 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company's stock valued at $36,000 after purchasing an additional 4,000 shares in the last quarter. Finally, State of Wyoming boosted its position in shares of Navitas Semiconductor by 92.8% during the 1st quarter. State of Wyoming now owns 4,803 shares of the company's stock valued at $42,000 after purchasing an additional 2,312 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.