Navitas Semiconductor (NASDAQ:NVTS) Trading Down 5% – Here’s What Happened

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) dropped 5% on Friday . The stock traded as low as $13.17 and last traded at $13.47. 11,047,145 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 28,004,088 shares. The stock had previously closed at $14.18.

Analyst Upgrades and Downgrades

Several research firms recently commented on NVTS. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Needham & Company LLC increased their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Rosenblatt Securities lifted their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Morgan Stanley restated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.74.

Navitas Semiconductor Stock Performance

The stock has a market cap of $3.15 billion, a P/E ratio of -21.38 and a beta of 3.82. The company has a 50-day simple moving average of $21.38 and a 200-day simple moving average of $13.81.

Navitas Semiconductor (NASDAQ:NVTS) last announced its 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 return on equity of 14.30% and a negative net margin of 330.67%.The company had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. During the same quarter in the prior year, the business earned ($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, sell-side analysts expect that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.14, for a total transaction of $989,543.10. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chris Allexandre sold 13,323 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total transaction of $423,804.63. Following the transaction, the chief executive officer owned 1,072,633 shares in the company, valued at $34,120,455.73. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,989,478 shares of company stock worth $116,356,387 in the last quarter. Insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NVTS. Kestra Advisory Services LLC increased its position in Navitas Semiconductor by 2.8% in the first quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock worth $370,000 after purchasing an additional 1,150 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in Navitas Semiconductor by 247.8% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock worth $31,000 after purchasing an additional 1,239 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Navitas Semiconductor by 12.6% during the 4th quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock valued at $96,000 after purchasing an additional 1,505 shares during the period. Captrust Financial Advisors lifted its position in Navitas Semiconductor by 3.8% during the 2nd quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock valued at $300,000 after purchasing an additional 1,667 shares during the period. Finally, Wealthcare Advisory Partners LLC boosted its stake in shares of Navitas Semiconductor by 16.8% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock valued at $86,000 after purchasing an additional 1,725 shares during the last quarter. 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.