Navitas Semiconductor (NASDAQ:NVTS) Trading Down 9.7% - Here's What Happened

Key Points

• Navitas Semiconductor shares fell 9.7% on Tuesday, closing at $21.40 after trading as low as $21.01. Trading volume was below average, with about 20.7 million shares changing hands.
• Analysts remain mixed on the stock, with several recent target-price increases but an overall consensus rating of “Hold” and an average price target of $14.74. Ratings currently include two Buys, four Holds, and two Sells.
• The company recently posted a smaller-than-expected loss and slightly better-than-expected revenue, but sales still fell 38.7% year over year. Insider selling has also been notable, with executives and directors unloading shares over the past three months.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) fell 9.7% during trading on Tuesday . The stock traded as low as $21.01 and last traded at $21.40. 20,692,554 shares traded hands during trading, a decline of 28% from the average session volume of 28,831,404 shares. The stock had previously closed at $23.70.

Analyst Upgrades and Downgrades

NVTS has been the topic of a number of analyst reports. 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 report on Wednesday, May 6th. Morgan Stanley reiterated an "underweight" rating and set a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Robert W. Baird increased their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Wall Street Zen upgraded Navitas Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $14.74.

Navitas Semiconductor Trading Down 9.7%

The firm's fifty day moving average price is $20.77 and its 200-day moving average price is $13.10. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -33.97 and a beta of 3.75.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $8.22 million. During the same period last year, the business earned ($0.06) EPS. Navitas Semiconductor's revenue for the quarter was down 38.7% compared to the same quarter last year. On average, sell-side analysts expect that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Transactions at Navitas Semiconductor

In related news, Director Richard J. Hendrix sold 110,165 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the transaction, the director owned 101,709 shares in the company, valued at $2,945,492.64. This trade represents a 52.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Chris Allexandre sold 13,323 shares of the business'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 completion of the sale, the chief executive officer owned 1,072,633 shares of the company's stock, valued at approximately $34,120,455.73. This represents a 1.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,989,478 shares of company stock worth $116,356,387 over the last three months. 12.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors have recently modified their holdings of the business. Allworth Financial LP boosted 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 purchasing an additional 2,698 shares during the period. NewEdge Advisors LLC increased its stake in Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company's stock valued at $29,000 after purchasing an additional 2,942 shares during the period. GAMMA Investing LLC raised 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 valued at $34,000 after buying an additional 2,548 shares during the last quarter. Geneos Wealth Management Inc. raised 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 valued at $36,000 after buying an additional 4,000 shares during the last quarter. Finally, State of Wyoming boosted its stake in shares of Navitas Semiconductor by 92.8% during 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 period. 46.14% of the stock is owned by institutional investors and hedge funds.

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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