Navitas Semiconductor (NASDAQ:NVTS) Shares Down 4.2% – Should You Sell?

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

Analysts Set New Price Targets

Several equities analysts have commented on NVTS shares. Craig Hallum dropped their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of 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, Robert W. Baird dropped their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Stock Performance

The company’s 50 day simple moving average is $2.70 and its 200-day simple moving average is $3.15. The firm has a market capitalization of $592.14 million, a PE ratio of -7.55 and a beta of 2.37.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, meeting 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 firm had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $21.93 million. During the same quarter last year, the company posted ($0.10) EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its holdings in shares of Navitas Semiconductor by 2,656.2% during 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 buying an additional 4,127,940 shares in the last quarter. Masters Capital Management LLC boosted its stake in shares of Navitas Semiconductor by 90.0% in the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $7,467,000 after buying an additional 900,000 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in Navitas Semiconductor by 31.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock valued at $8,713,000 after acquiring an additional 845,664 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Navitas Semiconductor in the second quarter worth about $2,364,000. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at about $2,151,000. 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.