Navitas Semiconductor (NASDAQ:NVTS) Shares Down 3.4% – Should You Sell?

Navitas Semiconductor Co. (NASDAQ:NVTS)’s share price traded down 3.4% on Friday . The company traded as low as $3.91 and last traded at $3.98. 1,193,745 shares traded hands during trading, a decline of 64% from the average session volume of 3,313,440 shares. The stock had previously closed at $4.12.

Analyst Ratings Changes

Several analysts recently issued reports on NVTS shares. Deutsche Bank Aktiengesellschaft reduced their price target 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. Robert W. Baird decreased their price target 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. Rosenblatt Securities reissued a “buy” rating and set a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday, October 31st. Finally, Craig Hallum reduced their price objective 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Navitas Semiconductor currently has an average rating of “Moderate Buy” and an average target price of $4.75.

Navitas Semiconductor Stock Performance

The business has a fifty day simple moving average of $2.82 and a 200-day simple moving average of $3.14. The firm has a market cap of $732.24 million, a price-to-earnings ratio of -9.33 and a beta of 2.37.

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). The business had revenue of $21.68 million for the quarter, compared to the consensus estimate of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company earned ($0.10) EPS. On average, equities analysts anticipate that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Insider Activity

In other news, Director Richard J. Hendrix sold 40,000 shares of the 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 completion of the sale, the director now directly owns 316,709 shares in the company, valued at $1,437,858.86. This represents a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

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

About Navitas Semiconductor

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.