Navitas Semiconductor Corporation (NASDAQ:NVTS – Get Free Report) shares fell 12.5% during mid-day trading on Thursday . The company traded as low as $14.03 and last traded at $14.46. Approximately 29,302,395 shares were traded during trading, an increase of 3% from the average session volume of 28,506,041 shares. The stock had previously closed at $16.53.
Analyst Ratings Changes
Several equities analysts recently commented on NVTS shares. Weiss Ratings upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Rosenblatt Securities raised their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Robert W. Baird upped their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Needham & Company LLC lifted their price target 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. Finally, Morgan Stanley restated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.74.
Check Out Our Latest Report on NVTS
Navitas Semiconductor Price Performance
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last released 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. The business had revenue of $8.60 million for the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. Navitas Semiconductor’s revenue for the quarter was down 38.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.06) earnings per share. On average, equities analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.
Insider Transactions at Navitas Semiconductor
In related news, Director Ranbir Singh sold 3,060,118 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.29, for a total value of $89,630,856.22. Following the sale, the director owned 15,607,533 shares of the company’s stock, valued at approximately $457,144,641.57. The trade was a 16.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of Navitas Semiconductor stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.11, for a total transaction of $2,052,030.00. Following the completion of the transaction, the director owned 13,964 shares of the company’s stock, valued at $392,528.04. The trade was a 83.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,989,478 shares of company stock valued at $116,356,387 in the last 90 days. Corporate insiders own 12.40% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP raised its position in Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after purchasing an additional 2,698 shares in the last quarter. Geneos Wealth Management Inc. increased its stake 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 period. NewEdge Advisors LLC raised its stake in shares of Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after acquiring an additional 2,942 shares during the last quarter. GAMMA Investing LLC raised its position in Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after purchasing an additional 2,548 shares during the last quarter. Finally, State of Wyoming lifted its stake in 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 acquiring an additional 2,312 shares during the period. 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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