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

Navitas Semiconductor Co. (NASDAQ:NVTS)’s stock price was down 4.2% 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.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Craig Hallum dropped their price target on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Navitas Semiconductor presently has an average rating of “Moderate Buy” and a consensus target price of $4.75.

Navitas Semiconductor Stock Down 15.2 %

The stock’s 50 day moving average is $2.68 and its 200-day moving average is $3.16. The company has a market cap of $523.03 million, a PE ratio of -6.67 and a beta of 2.37.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly 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 return on equity of 23.64% and a negative net margin of 84.61%. The company had revenue of $21.68 million during the quarter, compared to analyst estimates of $21.93 million. During the same quarter last year, the business posted ($0.10) earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. On average, analysts anticipate that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of the company’s stock in a transaction 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 transaction, the director now owns 316,709 shares of the company’s stock, valued at $1,437,858.86. This represents a 11.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 31.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. purchased a new stake in shares of Navitas Semiconductor in the 3rd quarter worth approximately $36,000. Bleakley Financial Group LLC purchased a new stake in Navitas Semiconductor during the third quarter valued at approximately $41,000. GSA Capital Partners LLP acquired a new stake in Navitas Semiconductor in the third quarter valued at approximately $44,000. DRW Securities LLC purchased a new position in Navitas Semiconductor in the second quarter worth $46,000. Finally, Wedbush Securities Inc. acquired a new position in shares of Navitas Semiconductor during the second quarter worth $49,000. Institutional investors own 46.14% of the company’s stock.

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.