Navitas Semiconductor (NASDAQ:NVTS) Shares Down 9.8% – What’s Next?

Navitas Semiconductor Co. (NASDAQ:NVTS) shares traded down 9.8% on Monday . The stock traded as low as $2.92 and last traded at $2.94. 3,047,890 shares were traded during trading, a decline of 44% from the average session volume of 5,424,114 shares. The stock had previously closed at $3.26.

Wall Street Analyst Weigh In

Several research firms have commented on NVTS. Robert W. Baird decreased their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Craig Hallum reduced their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Navitas Semiconductor has an average rating of “Moderate Buy” and an average target price of $4.75.

Navitas Semiconductor Stock Performance

The firm has a 50 day moving average of $3.06 and a two-hundred day moving average of $3.07. The stock has a market cap of $549.18 million, a P/E ratio of -7.00 and a beta of 2.23.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The business had revenue of $21.68 million for the quarter, compared to the consensus estimate of $21.93 million. During the same quarter last year, the company posted ($0.10) earnings per share. Navitas Semiconductor’s quarterly revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of Navitas Semiconductor stock in a transaction on Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the sale, the director now owns 316,709 shares in the company, valued at $1,437,858.86. The trade was a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 31.80% of the stock is owned by corporate insiders.

Institutional Trading of Navitas Semiconductor

Several institutional investors have recently made changes to their positions in the business. Benjamin Edwards Inc. bought a new position in Navitas Semiconductor during the third quarter worth about $36,000. Bleakley Financial Group LLC bought a new stake in Navitas Semiconductor in the third quarter valued at $41,000. GSA Capital Partners LLP acquired a new position in Navitas Semiconductor during the third quarter worth $44,000. DRW Securities LLC bought a new position in shares of Navitas Semiconductor during the second quarter valued at $46,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of Navitas Semiconductor in the 2nd quarter valued at $49,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.