Navitas Semiconductor (NASDAQ:NVTS) Stock Price Down 9.2% - Time to Sell?

Key Points

• Navitas Semiconductor shares fell 9.2% in Wednesday trading, with volume running above average as the stock moved from a prior close of $31.79 to as low as $28.37.
• Analysts remain cautious overall despite some higher targets: the stock’s average rating is Hold and the average price target is $12.87, with several firms still issuing hold or sell-equivalent views.
• The company posted a smaller-than-expected quarterly loss and slightly beat revenue estimates, but sales still fell 38.7% year over year; insider selling over the past few months may also weigh on sentiment.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) fell 9.2% during mid-day trading on Wednesday . The company traded as low as $28.37 and last traded at $28.88. 35,792,929 shares changed hands during trading, an increase of 27% from the average session volume of 28,169,266 shares. The stock had previously closed at $31.79.

Analysts Set New Price Targets

NVTS has been the subject of a number of analyst reports. Needham & Company LLC raised their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Robert W. Baird raised their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Rosenblatt Securities raised their price objective on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Finally, Morgan Stanley restated an "underweight" rating and set a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $12.87.

Navitas Semiconductor Price Performance

The business's 50 day moving average price is $14.72 and its 200 day moving average price is $10.87. The stock has a market capitalization of $6.75 billion, a P/E ratio of -45.84 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) 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 firm had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. During the same period in the previous year, the business posted ($0.06) earnings per share. The business's revenue for the quarter was down 38.7% on a year-over-year basis. As a group, analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other news, Director Ranbir Singh sold 389,096 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $9.52, for a total value of $3,704,193.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Todd Glickman sold 98,152 shares of Navitas Semiconductor stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the completion of the sale, the chief financial officer owned 735,231 shares of the company's stock, valued at $7,925,790.18. This represents a 11.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 509,016 shares of company stock worth $4,967,814 over the last three months. 12.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP boosted its holdings in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company's stock worth $26,000 after buying an additional 2,698 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company's stock worth $36,000 after buying an additional 4,000 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company's stock worth $29,000 after buying an additional 2,942 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company's stock worth $34,000 after buying an additional 2,548 shares during the last quarter. Finally, State of Wyoming boosted its holdings in shares of Navitas Semiconductor by 92.8% in the first quarter. State of Wyoming now owns 4,803 shares of the company's stock worth $42,000 after buying an additional 2,312 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company's stock.

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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