Navitas Semiconductor (NASDAQ:NVTS) Shares Down 6.7% on Insider Selling

Key Points

• Navitas Semiconductor shares fell 6.7% after insider selling, with the stock trading as low as $26.08 on heavier-than-usual volume.
• Director Richard J. Hendrix sold more than 143,000 shares across two transactions, while director Gary Kent Wunderlich, Jr. also sold 35,165 shares, according to SEC filings.
• Despite the sell-off, analysts’ views are mixed but lean cautious, with a consensus rating of Hold and an average price target of $12.87; the company also recently reported a smaller-than-expected loss on revenue that beat estimates.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) fell 6.7% during trading on Friday after an insider sold shares in the company. The stock traded as low as $26.08 and last traded at $26.60. 22,942,319 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 28,053,482 shares. The stock had previously closed at $28.51.

Specifically, Director Richard J. Hendrix sold 110,165 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the completion of the sale, the director owned 101,709 shares in the company, valued at $2,945,492.64. The trade was a 52.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard J. Hendrix sold 33,649 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total value of $998,029.34. Following the sale, the director owned 33,855 shares of the company's stock, valued at approximately $1,004,139.30. This represents a 49.85% decrease in their position. The SEC filing for this sale provides additional information. In other news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the business's stock in a transaction that occurred on 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 sale, the director owned 2,375,060 shares in the company, valued at $66,834,188.40. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVTS. Robert W. Baird lifted their target price 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 reaffirmed a "sell (d-)" rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Morgan Stanley reaffirmed an "underweight" rating and set a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Rosenblatt Securities lifted their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised Navitas Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $12.87.

Navitas Semiconductor Stock Down 6.7%

The company has a 50-day simple moving average of $15.46 and a two-hundred day simple moving average of $11.15. The firm has a market cap of $6.22 billion, a PE ratio of -42.22 and a beta of 3.62.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NVTS. American Century Companies Inc. lifted its position in shares of Navitas Semiconductor by 104.8% during the 2nd quarter. American Century Companies Inc. now owns 241,450 shares of the company's stock valued at $1,581,000 after buying an additional 123,577 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of Navitas Semiconductor during the 2nd quarter valued at $120,000. New York State Common Retirement Fund lifted its position in shares of Navitas Semiconductor by 102.7% during the 2nd quarter. New York State Common Retirement Fund now owns 40,255 shares of the company's stock valued at $264,000 after buying an additional 20,400 shares during the last quarter. Invesco Ltd. lifted its position in shares of Navitas Semiconductor by 75.2% during the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company's stock valued at $20,999,000 after buying an additional 1,376,205 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Navitas Semiconductor by 2,514.3% during the 2nd quarter. Baird Financial Group Inc. now owns 419,237 shares of the company's stock valued at $2,746,000 after buying an additional 403,201 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company's stock.

Navitas Semiconductor Company Profile

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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