Navitas Semiconductor (NASDAQ:NVTS) Shares Down 3.4% - Should You Sell?

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report)'s stock price traded down 3.4% on Friday . The company traded as low as $6.68 and last traded at $6.77. 14,796,424 shares were traded during mid-day trading, an increase of 31% from the average session volume of 11,285,249 shares. The stock had previously closed at $7.00.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NVTS. Morgan Stanley downgraded shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $2.10 to $1.50 in a research report on Monday, April 7th. Needham & Company LLC decreased their price objective on Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Rosenblatt Securities raised their target price on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft downgraded Navitas Semiconductor from a "buy" rating to a "hold" rating and set a $3.50 price target for the company. in a report on Tuesday. Finally, Robert W. Baird lowered their price objective on Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $3.71.

Navitas Semiconductor Stock Performance

The business's 50 day moving average is $3.80 and its 200-day moving average is $3.24. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -13.34 and a beta of 2.96.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.06). Navitas Semiconductor had a negative return on equity of 22.62% and a negative net margin of 131.83%. The company had revenue of $14.02 million for the quarter, compared to analyst estimates of $14.01 million. During the same quarter last year, the firm posted ($0.06) EPS. The firm's revenue for the quarter was down 39.7% on a year-over-year basis. Sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.

Insider Activity

In other news, CFO Todd Glickman sold 532,342 shares of Navitas Semiconductor stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $4.49, for a total transaction of $2,390,215.58. Following the transaction, the chief financial officer now owns 234,501 shares in the company, valued at $1,052,909.49. The trade was a 69.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Sicpower, Llc sold 8,500 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $6.53, for a total transaction of $55,505.00. Following the sale, the insider now owns 24,874,661 shares of the company's stock, valued at approximately $162,431,536.33. The trade was a 0.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,084,600 shares of company stock worth $99,761,157 over the last ninety days. Corporate insiders own 29.90% of the company's stock.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Navitas Semiconductor by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 9,997,486 shares of the company's stock worth $20,495,000 after purchasing an additional 123,598 shares during the last quarter. Geode Capital Management LLC boosted its stake in Navitas Semiconductor by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 3,081,916 shares of the company's stock worth $11,005,000 after buying an additional 113,277 shares during the period. Invesco Ltd. increased its position in shares of Navitas Semiconductor by 22.2% during the first quarter. Invesco Ltd. now owns 1,829,803 shares of the company's stock valued at $3,751,000 after acquiring an additional 331,832 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Navitas Semiconductor by 180.5% in the 4th quarter. Bank of America Corp DE now owns 1,234,375 shares of the company's stock valued at $4,407,000 after acquiring an additional 794,371 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Navitas Semiconductor by 9.5% in the 4th quarter. Northern Trust Corp now owns 1,209,761 shares of the company's stock worth $4,319,000 after acquiring an additional 104,906 shares during the last quarter. Institutional investors and hedge funds own 46.14% of the company's stock.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company's products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.

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