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

Key Points

• Navitas Semiconductor shares fell 3.4% on Thursday, trading as low as $17.22 after closing at $18.32, with volume below the daily average.
• Analyst sentiment is mixed but leaning cautious: the stock has a consensus rating of Hold and an average price target of $14.74, even as several firms recently raised targets and ratings.
• The company recently reported better-than-expected EPS and revenue for the quarter, but results still showed a steep year-over-year revenue decline and continued losses; insider selling has also been notable in recent months.

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) were down 3.4% on Thursday . The stock traded as low as $17.22 and last traded at $17.70. 21,495,209 shares traded hands during trading, a decline of 25% from the average daily volume of 28,846,234 shares. The stock had previously closed at $18.32.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NVTS. Needham & Company LLC lifted their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the company a "buy" rating 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 report on Wednesday, June 17th. 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 research note on Monday, May 4th. Rosenblatt Securities lifted their price objective on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a "neutral" 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 analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Navitas Semiconductor presently has a consensus rating of "Hold" and an average price target of $14.74.

Navitas Semiconductor Price Performance

The stock has a market capitalization of $4.14 billion, a P/E ratio of -28.10 and a beta of 3.75. The stock's 50-day simple moving average is $21.18 and its 200 day simple moving average is $13.26.

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

Insider Buying and Selling

In other news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the stock in a transaction 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 in the company, valued at approximately $392,528.04. This represents a 83.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard J. Hendrix sold 110,165 shares of the company's stock in a transaction that occurred on 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 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 SEC filing for this sale provides additional information. Insiders sold 3,989,478 shares of company stock valued at $116,356,387 over the last 90 days. 12.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

A number of large investors have recently bought and sold shares of the stock. Allworth Financial LP increased its position in shares of 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 in the last quarter. NewEdge Advisors LLC increased its stake 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 buying an additional 2,942 shares during the last quarter. GAMMA Investing LLC lifted its stake in Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company's stock valued at $34,000 after purchasing an additional 2,548 shares during the last quarter. Geneos Wealth Management Inc. raised its stake 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 during the period. Finally, State of Wyoming boosted its holdings in Navitas Semiconductor by 92.8% in 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 during the period. 46.14% of the stock is currently owned by institutional investors and hedge funds.

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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