Navitas Semiconductor (NASDAQ:NVTS) Shares Down 4.2% – What’s Next?

Navitas Semiconductor Co. (NASDAQ:NVTS) traded down 4.2% during mid-day trading on Thursday . The stock traded as low as $3.15 and last traded at $3.16. 959,093 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 3,187,890 shares. The stock had previously closed at $3.30.

Analyst Upgrades and Downgrades

NVTS has been the topic of a number of research analyst reports. Robert W. Baird reduced their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Craig Hallum reduced 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 dropped their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.75.

Navitas Semiconductor Stock Down 15.2 %

The company has a 50-day moving average of $2.68 and a two-hundred day moving average of $3.16. The company has a market capitalization of $523.03 million, a P/E ratio of -6.67 and a beta of 2.37.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The firm had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $21.93 million. During the same quarter in the previous year, the business posted ($0.10) EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities analysts expect that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 80,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $4.04, for a total transaction of $323,200.00. Following the completion of the transaction, the director now directly owns 356,709 shares in the company, valued at $1,441,104.36. This trade represents a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Several institutional investors have recently bought and sold shares of the company. DRW Securities LLC bought a new position in shares of Navitas Semiconductor in the second quarter worth approximately $46,000. Wedbush Securities Inc. purchased a new position in Navitas Semiconductor in the 2nd quarter worth approximately $49,000. Algert Global LLC bought a new position in Navitas Semiconductor in the 2nd quarter valued at approximately $50,000. Benjamin Edwards Inc. purchased a new stake in Navitas Semiconductor during the 3rd quarter valued at $36,000. Finally, Bleakley Financial Group LLC bought a new stake in shares of Navitas Semiconductor in the 3rd quarter worth $41,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.