Navitas Semiconductor Corporation (NASDAQ:NVTS – Get Free Report) was down 9.2% during mid-day trading on Friday . The company traded as low as $10.90 and last traded at $10.92. 13,452,639 shares changed hands during trading, a decline of 50% from the average session volume of 26,899,174 shares. The stock had previously closed at $12.03.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley reissued an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Rosenblatt Securities upped their price objective on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Robert W. Baird upped their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, Weiss Ratings raised Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Navitas Semiconductor presently has a consensus rating of “Hold” and a consensus price target of $14.74.
Check Out Our Latest Stock Report on NVTS
Navitas Semiconductor Trading Down 9.2%
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.Navitas Semiconductor’s revenue for the quarter was down 38.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) EPS. As a group, sell-side analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.
Insider Activity at Navitas Semiconductor
In related news, Director Ranbir Singh sold 664,058 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.72, for a total value of $19,071,745.76. Following the sale, the director directly owned 14,943,475 shares of the company’s stock, valued at approximately $429,176,602. The trade was a 4.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard J. Hendrix sold 110,165 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.96, for a total value of $3,190,378.40. Following the transaction, the director owned 101,709 shares of the company’s stock, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 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 insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of NVTS. Vanguard Group Inc. grew its holdings in shares of Navitas Semiconductor by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock worth $104,896,000 after buying an additional 1,330,703 shares in the last quarter. State Street Corp raised its position in Navitas Semiconductor by 18.0% in the 4th quarter. State Street Corp now owns 8,597,950 shares of the company’s stock valued at $61,389,000 after buying an additional 1,308,626 shares during the last quarter. Invesco Ltd. lifted its stake in Navitas Semiconductor by 257.8% in the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after acquiring an additional 3,413,394 shares in the last quarter. Geode Capital Management LLC lifted its stake in Navitas Semiconductor by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock valued at $31,546,000 after acquiring an additional 501,110 shares in the last quarter. Finally, UBS Group AG boosted its position in Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after acquiring an additional 1,875,228 shares during the last quarter. 46.14% of the stock is owned by institutional investors and hedge funds.
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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