Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) shares traded down 9.2% on Friday . The stock traded as low as $10.90 and last traded at $10.92. Approximately 13,452,639 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 26,899,174 shares. The stock had previously closed at $12.03.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Morgan Stanley reaffirmed an "underweight" rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 17th. Wall Street Zen raised shares of Navitas Semiconductor from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Needham & Company LLC boosted their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Rosenblatt Securities upped their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Two equities 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 company's stock. According to MarketBeat.com, Navitas Semiconductor has a consensus rating of "Hold" and a consensus target price of $14.74.
Check Out Our Latest Stock Analysis on Navitas Semiconductor
Navitas Semiconductor Stock Down 9.2%
The firm has a fifty day moving average of $20.20 and a 200-day moving average of $14.16. The firm has a market cap of $2.55 billion, a P/E ratio of -17.33 and a beta of 3.82.
Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The firm had revenue of $8.60 million during the quarter, compared to analysts' expectations of $8.22 million. During the same period in the previous year, the business posted ($0.06) EPS. The company's quarterly revenue was down 38.7% compared to the same quarter last year. Sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.
Insider Buying and Selling at Navitas Semiconductor
In other Navitas Semiconductor news, CEO Chris Allexandre sold 13,323 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the transaction, the chief executive officer directly owned 1,072,633 shares of the company's stock, valued at approximately $34,120,455.73. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ranbir Singh sold 664,058 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.72, for a total transaction of $19,071,745.76. Following the completion of the transaction, the director directly owned 14,943,475 shares in the company, valued at approximately $429,176,602. The trade was a 4.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,989,478 shares of company stock valued at $116,356,387. 12.40% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in NVTS. Beaird Harris Wealth Management LLC lifted its stake in Navitas Semiconductor by 247.8% in the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company's stock valued at $31,000 after buying an additional 1,239 shares during the period. Allworth Financial LP boosted its holdings in 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 buying an additional 2,698 shares during the last quarter. Geneos Wealth Management Inc. grew its position 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 worth $36,000 after buying an additional 4,000 shares during the period. NewEdge Advisors LLC grew its position in shares of 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 buying an additional 2,942 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company's stock valued at $34,000 after acquiring an additional 2,548 shares during the last quarter. 46.14% of the stock is currently owned by institutional investors.
Navitas Semiconductor Company Profile
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Get Free Report)
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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