Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 6.5% After Insider Selling

Key Points

• Navitas Semiconductor shares fell 6.5% after director Richard J. Hendrix and another insider sold a large block of shares, raising investor attention on insider activity.
• The insider sales were sizable, including Hendrix’s sale of 110,165 shares for about $3.19 million and an additional 33,649 shares for about $998,000, while director Gary Kent Wunderlich, Jr. also sold 35,165 shares.
• Analysts remain cautious overall despite some higher price targets: the stock has a consensus “Hold” rating and average target price of $12.87, while the company recently posted a smaller-than-expected loss and revenue that still declined sharply year over year.

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) were down 6.5% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $23.59 and last traded at $24.86. Approximately 24,780,714 shares changed hands during trading, a decline of 12% from the average daily volume of 28,023,844 shares. The stock had previously closed at $26.60.

Specifically, Director Richard J. Hendrix sold 110,165 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the sale, the director directly owned 101,709 shares in the company, valued at approximately $2,945,492.64. This represents a 52.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard J. Hendrix sold 33,649 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total transaction of $998,029.34. Following the sale, the director owned 33,855 shares in the company, valued at $1,004,139.30. This represents a 49.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.14, for a total transaction of $989,543.10. Following the sale, the director directly owned 2,375,060 shares in the company, valued at approximately $66,834,188.40. This represents a 1.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NVTS shares. Robert W. Baird upped their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Morgan Stanley restated an "underweight" rating and set a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Needham & Company LLC upped their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Finally, Rosenblatt Securities upped their price target 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. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $12.87.

Navitas Semiconductor Stock Performance

The company has a market capitalization of $5.81 billion, a P/E ratio of -39.46 and a beta of 3.75. The firm's fifty day moving average is $15.81 and its 200 day moving average is $11.27.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $8.60 million for 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 firm's revenue was down 38.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) EPS. On average, analysts forecast that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Navitas Semiconductor

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP grew its stake in Navitas Semiconductor by 309.4% in the 3rd 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 grew 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 worth $29,000 after acquiring an additional 2,942 shares in the last quarter. GAMMA Investing LLC grew its stake in Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company's stock worth $34,000 after acquiring an additional 2,548 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Navitas Semiconductor by 3,200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company's stock worth $36,000 after acquiring an additional 4,000 shares in the last quarter. Finally, State of Wyoming grew its stake in Navitas Semiconductor by 92.8% in the 1st quarter. State of Wyoming now owns 4,803 shares of the company's stock worth $42,000 after acquiring an additional 2,312 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors.

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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