Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 2.4% - What's Next?

Key Points

• Navitas Semiconductor shares fell 2.4% on Monday, trading as low as $23.96 before ending at $24.48, with volume slightly below its daily average.
• Analysts remain mixed on the stock: several firms raised price targets, but the overall consensus is still Hold, with an average target price of $12.87.
• The company reported a smaller-than-expected quarterly loss and slightly better revenue, but sales still fell 38.7% year over year, while insiders have been heavy sellers in recent months.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report)'s stock price was down 2.4% on Monday . The stock traded as low as $23.96 and last traded at $24.48. Approximately 28,805,799 shares changed hands during trading, a decline of 1% from the average daily volume of 28,994,441 shares. The stock had previously closed at $25.08.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NVTS shares. Robert W. Baird lifted their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Wall Street Zen raised shares of Navitas Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of Navitas Semiconductor from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 2nd. Needham & Company LLC lifted their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Rosenblatt Securities lifted their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Navitas Semiconductor has a consensus rating of "Hold" and an average target price of $12.87.

Navitas Semiconductor Trading Down 2.4%

The stock has a market cap of $5.72 billion, a PE ratio of -38.86 and a beta of 3.75. The company's 50 day moving average is $17.64 and its 200-day moving average is $11.95.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its earnings results 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. The company had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The company's revenue was down 38.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. As a group, analysts forecast that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insider Buying and Selling

In other news, Director Richard J. Hendrix sold 110,165 shares of the business's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.96, for a total value of $3,190,378.40. Following the completion of the sale, the director owned 101,709 shares of the company's stock, valued at approximately $2,945,492.64. The trade was a 52.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chris Allexandre sold 13,323 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total transaction of $423,804.63. Following the completion of the sale, the chief executive officer directly owned 1,072,633 shares of the company's stock, valued at $34,120,455.73. The trade was a 1.23% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,087,630 shares of company stock worth $117,414,466. 12.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Navitas Semiconductor by 10.0% during the 4th quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company's stock valued at $104,896,000 after buying an additional 1,330,703 shares during the last quarter. State Street Corp boosted its stake in Navitas Semiconductor by 18.0% during the 4th quarter. State Street Corp now owns 8,597,950 shares of the company's stock valued at $61,389,000 after purchasing an additional 1,308,626 shares during the period. Invesco Ltd. boosted its stake in Navitas Semiconductor by 257.8% during the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company's stock valued at $33,827,000 after purchasing an additional 3,413,394 shares during the period. Geode Capital Management LLC boosted its stake in Navitas Semiconductor by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company's stock valued at $31,546,000 after purchasing an additional 501,110 shares during the period. Finally, UBS Group AG boosted its stake in Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company's stock valued at $23,612,000 after purchasing an additional 1,875,228 shares during the period. Institutional investors 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.

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