Navitas Semiconductor (NASDAQ:NVTS) Shares Down 2.3% - Here's What Happened

Key Points

• Navitas Semiconductor shares fell 2.3% on Friday, trading as low as $16.80 before closing at $17.30, with volume below its average session level.
• Analyst sentiment is mixed but generally cautious: the stock carries an average “Hold” rating and a consensus target price of $14.74, though some firms recently raised targets sharply, including Baird to $20 and Needham to $21.
• Insider selling has been significant, with the CEO and a director both selling shares recently, and insiders having sold nearly 4.0 million shares over the past three months.

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) fell 2.3% during trading on Friday . The stock traded as low as $16.80 and last traded at $17.30. 24,200,343 shares were traded during mid-day trading, a decline of 16% from the average session volume of 28,795,420 shares. The stock had previously closed at $17.70.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NVTS. Robert W. Baird raised their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Morgan Stanley reaffirmed an "underweight" rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Weiss Ratings raised Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 17th. Needham & Company LLC increased their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Navitas Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Navitas Semiconductor presently has an average rating of "Hold" and an average target price of $14.74.

Navitas Semiconductor Price Performance

The firm's 50 day moving average is $21.34 and its 200 day moving average is $13.31. The company has a market cap of $4.04 billion, a PE ratio of -27.46 and a beta of 3.75.

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

Insider Buying and Selling

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.14, for a total value of $989,543.10. Following the completion of the sale, the director owned 2,375,060 shares of the company's stock, valued at approximately $66,834,188.40. The trade was a 1.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chris Allexandre sold 13,323 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total transaction of $423,804.63. Following the sale, the chief executive officer owned 1,072,633 shares of the company's stock, valued at approximately $34,120,455.73. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders 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 large investors have recently made changes to their positions in the stock. Invesco Ltd. increased its holdings in Navitas Semiconductor by 257.8% in the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company's stock valued at $33,827,000 after acquiring an additional 3,413,394 shares during the last quarter. Marex Group plc increased its stake in shares of Navitas Semiconductor by 22,203.8% during the fourth quarter. Marex Group plc now owns 2,675,113 shares of the company's stock valued at $19,100,000 after buying an additional 2,663,119 shares during the period. Vanguard Group Inc. increased its holdings in shares of Navitas Semiconductor by 23.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company's stock valued at $96,464,000 after acquiring an additional 2,550,613 shares during the period. Ghisallo Capital Management LLC purchased a new position in shares of Navitas Semiconductor in the fourth quarter worth $15,867,000. Finally, UBS Group AG boosted its holdings in shares of Navitas Semiconductor by 131.0% in the 4th 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. 46.14% of the stock is owned by hedge funds and other 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.

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