Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 4.5% - Here's What Happened

Key Points

• Navitas Semiconductor shares fell 4.5% on Wednesday, trading as low as $12.66 before closing at $13.36, with volume below the typical daily level.
• Analyst sentiment remains mixed: while some firms raised price targets and kept buy ratings, the overall consensus is still “Hold” with an average price target of $14.74.
• The company recently beat quarterly EPS and revenue estimates, but results still showed sharp year-over-year revenue decline and ongoing losses; meanwhile, insider selling has been significant in recent months.

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) fell 4.5% on Wednesday . The company traded as low as $12.66 and last traded at $13.36. 19,104,102 shares traded hands during trading, a decline of 32% from the average session volume of 28,231,711 shares. The stock had previously closed at $13.99.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings upgraded Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, June 17th. Needham & Company LLC lifted their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Morgan Stanley restated an "underweight" rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Rosenblatt Securities boosted their target price 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. Finally, Robert W. Baird boosted their target price 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. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $14.74.

Navitas Semiconductor Trading Down 4.1%

The company has a 50 day moving average price of $21.54 and a 200 day moving average price of $13.73. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -21.29 and a beta of 3.82.

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 analysts' consensus estimates 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 return on equity of 14.30% and a negative net margin of 330.67%.The firm's quarterly revenue was down 38.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Equities analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 110,165 shares of the firm'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 transaction, the director owned 101,709 shares of the company's stock, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ranbir Singh sold 3,060,118 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total transaction of $89,630,856.22. Following the sale, the director directly owned 15,607,533 shares of the company's stock, valued at approximately $457,144,641.57. This trade represents a 16.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. 12.40% of the stock is currently owned by company insiders.

Institutional Trading of Navitas Semiconductor

Several institutional investors and hedge funds have recently made changes to their positions in NVTS. Kestra Advisory Services LLC boosted its position in shares of Navitas Semiconductor by 2.8% in the 1st quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company's stock worth $370,000 after purchasing an additional 1,150 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Navitas Semiconductor by 12.6% in the fourth quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company's stock valued at $96,000 after purchasing an additional 1,505 shares during the last quarter. Captrust Financial Advisors increased its holdings in Navitas Semiconductor by 3.8% in the second quarter. Captrust Financial Advisors now owns 45,758 shares of the company's stock valued at $300,000 after purchasing an additional 1,667 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in Navitas Semiconductor by 16.8% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company's stock valued at $86,000 after buying an additional 1,725 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in Navitas Semiconductor by 3.9% during the fourth quarter. Osaic Holdings Inc. now owns 46,304 shares of the company's stock worth $331,000 after buying an additional 1,743 shares during the last quarter. 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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