Navitas Semiconductor (NASDAQ:NVTS) Trading Down 3.4% – Time to Sell?

Navitas Semiconductor Co. (NASDAQ:NVTS) shares fell 3.4% during mid-day trading 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 Upgrades and Downgrades

NVTS has been the topic of several research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Robert W. Baird lowered 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. Craig Hallum cut their price objective 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. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Three 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, Navitas Semiconductor has an average rating of “Moderate Buy” and an average price target of $4.75.

Navitas Semiconductor Stock Down 2.2 %

The stock has a market cap of $752.79 million, a P/E ratio of -9.60 and a beta of 2.37. The business has a 50-day simple moving average of $2.85 and a 200-day simple moving average of $3.13.

Navitas Semiconductor (NASDAQ:NVTS) last posted 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). The business had revenue of $21.68 million during 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%. Navitas Semiconductor’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.10) EPS. On average, analysts predict that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 40,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was 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 of the company’s stock, valued at approximately $1,437,858.86. This represents a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several large investors have recently bought and sold shares of NVTS. Benjamin Edwards Inc. bought a new position in shares of Navitas Semiconductor during the 3rd quarter worth about $36,000. Bleakley Financial Group LLC bought a new position in Navitas Semiconductor during the third quarter valued at about $41,000. GSA Capital Partners LLP acquired a new position in Navitas Semiconductor in the 3rd quarter valued at approximately $44,000. DRW Securities LLC acquired a new position in Navitas Semiconductor in the 2nd quarter valued at approximately $46,000. Finally, Wedbush Securities Inc. bought a new stake in shares of Navitas Semiconductor in the 2nd quarter worth approximately $49,000. 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.