Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 6.7% - What's Next?

Key Points

• Navitas Semiconductor shares fell 6.7% on Tuesday, trading as low as $20.70 before closing at $22.85, with volume running 46% above average.
• Analysts remain mixed on NVTS after several target increases: the stock’s consensus rating is still Hold, and MarketBeat shows an average price target of $12.87, though individual targets now range up to $21.
• The company recently beat lowered Q1 expectations, but fundamentals remain weak, with revenue down 38.7% year over year and analysts expecting a full-year loss of $0.39 per share.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) traded down 6.7% during trading on Tuesday . The stock traded as low as $20.70 and last traded at $22.85. 42,474,665 shares changed hands during trading, an increase of 46% from the average session volume of 29,119,379 shares. The stock had previously closed at $24.48.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen raised Navitas Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Needham & Company LLC raised their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Morgan Stanley reaffirmed an "underweight" rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Robert W. Baird raised their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Finally, Rosenblatt Securities raised their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $12.87.

Navitas Semiconductor Price Performance

The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of -36.27 and a beta of 3.75. The stock has a 50-day moving average price of $17.95 and a 200-day moving average price of $12.06.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced 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 for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) earnings per share. Equities analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Activity at Navitas Semiconductor

In other news, Director Ranbir Singh sold 3,060,118 shares of the 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 transaction, the director owned 15,607,533 shares in the company, valued at approximately $457,144,641.57. This trade represents a 16.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard J. Hendrix sold 110,165 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was 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 in the company, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,087,630 shares of company stock valued at $117,414,466 in the last 90 days. Corporate insiders own 12.40% of the company's stock.

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds have recently added to or reduced their stakes in NVTS. Allworth Financial LP increased its stake in Navitas Semiconductor by 309.4% during 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 during the period. NewEdge Advisors LLC increased its stake in Navitas Semiconductor by 189.8% during 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 during the period. GAMMA Investing LLC increased its stake in Navitas Semiconductor by 116.5% during 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 during the period. Geneos Wealth Management Inc. increased its stake in Navitas Semiconductor by 3,200.0% during 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 during the period. Finally, State of Wyoming increased its stake in Navitas Semiconductor by 92.8% during 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 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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