Navitas Semiconductor (NASDAQ:NVTS) Shares Down 6.3% – What’s Next?

Navitas Semiconductor Co. (NASDAQ:NVTS)’s share price fell 6.3% during mid-day trading on Wednesday . The stock traded as low as $3.36 and last traded at $3.34. 991,900 shares were traded during mid-day trading, a decline of 79% from the average session volume of 4,778,472 shares. The stock had previously closed at $3.56.

Wall Street Analyst Weigh In

NVTS has been the topic of several analyst reports. Craig Hallum cut their target price on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Rosenblatt Securities reiterated a “buy” rating and set a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Finally, Robert W. Baird decreased their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.75.

Navitas Semiconductor Stock Performance

The stock has a market capitalization of $625.03 million, a price-to-earnings ratio of -7.94 and a beta of 2.23. The business’s 50 day simple moving average is $3.18 and its 200-day simple moving average is $3.04.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Monday, November 4th. The company reported ($0.06) 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 company had revenue of $21.68 million during the quarter, compared to the consensus estimate of $21.93 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Insider Activity

In related news, Director Richard J. Hendrix sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $4.04, for a total value of $323,200.00. Following the sale, the director now directly owns 356,709 shares in the company, valued at $1,441,104.36. This represents a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 31.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. lifted its position in Navitas Semiconductor by 2,656.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock valued at $16,834,000 after acquiring an additional 4,127,940 shares in the last quarter. Masters Capital Management LLC grew its stake in Navitas Semiconductor by 90.0% in the second quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock valued at $7,467,000 after purchasing an additional 900,000 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in Navitas Semiconductor by 31.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock worth $8,713,000 after acquiring an additional 845,664 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Navitas Semiconductor in the second quarter valued at approximately $2,364,000. Finally, Mirabella Financial Services LLP purchased a new stake in shares of Navitas Semiconductor in the third quarter valued at approximately $943,000. Institutional investors own 46.14% of the company’s stock.

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.