Navitas Semiconductor (NASDAQ:NVTS) Trading Down 7.9% – Here’s Why

Navitas Semiconductor Corporation (NASDAQ:NVTS) shares dropped 7.9% on Friday . The stock traded as low as $8.39 and last traded at $8.3050. Approximately 3,713,204 shares traded hands during trading, a decline of 84% from the average daily volume of 23,284,273 shares. The stock had previously closed at $9.02.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVTS. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Thursday, January 22nd. Rosenblatt Securities reaffirmed a “neutral” rating and set a $7.00 target price on shares of Navitas Semiconductor in a report on Thursday, March 12th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Navitas Semiconductor currently has a consensus rating of “Reduce” and an average price target of $6.78.

Navitas Semiconductor Stock Performance

The stock’s 50 day simple moving average is $9.11 and its 200 day simple moving average is $9.10. The firm has a market cap of $1.91 billion, a PE ratio of -14.53 and a beta of 3.16.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Tuesday, February 24th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 14.52%. The firm had revenue of $7.30 million for the quarter, compared to analysts’ expectations of $6.95 million. During the same quarter last year, the company posted ($0.06) EPS. The business’s quarterly revenue was down 59.4% on a year-over-year basis. As a group, analysts anticipate that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, CFO Todd Glickman sold 98,152 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer owned 735,231 shares in the company, valued at $7,925,790.18. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ranbir Singh sold 389,096 shares of Navitas Semiconductor stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $9.52, for a total value of $3,704,193.92. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 509,016 shares of company stock valued at $4,967,814 over the last 90 days. 29.90% of the stock is owned by insiders.

Institutional Trading of Navitas Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Navitas Semiconductor by 3.9% during the second quarter. Geode Capital Management LLC now owns 3,340,193 shares of the company’s stock worth $21,882,000 after acquiring an additional 124,594 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Navitas Semiconductor in the 3rd quarter valued at $960,000. JPMorgan Chase & Co. grew its holdings in shares of Navitas Semiconductor by 1,742.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,428,386 shares of the company’s stock valued at $9,356,000 after purchasing an additional 1,350,857 shares during the last quarter. Vanguard Group Inc. boosted its position in Navitas Semiconductor by 23.6% during the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company’s stock valued at $96,464,000 after buying an additional 2,550,613 shares during the period. Finally, Creative Planning grew its stake in shares of Navitas Semiconductor by 82.8% during the second quarter. Creative Planning now owns 126,441 shares of the company’s stock valued at $828,000 after buying an additional 57,290 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.