Navitas Semiconductor (NASDAQ:NVTS) Shares Gap Down – Time to Sell?

Navitas Semiconductor Co. (NASDAQ:NVTS) shares gapped down prior to trading on Monday . The stock had previously closed at $4.03, but opened at $3.85. Navitas Semiconductor shares last traded at $3.80, with a volume of 1,323,557 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NVTS shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday, October 31st. Robert W. Baird decreased their price objective 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 cut 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 note on Tuesday, November 5th. Finally, Craig Hallum decreased their price target on shares of 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.75.

Navitas Semiconductor Price Performance

The business’s 50 day simple moving average is $2.85 and its 200 day simple moving average is $3.11. The company has a market capitalization of $724.77 million, a PE ratio of -9.24 and a beta of 2.37.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share 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 period in the prior year, the business posted ($0.10) earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts anticipate that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Insiders Place Their Bets

In other news, Director Richard J. Hendrix sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $4.04, for a total value of $323,200.00. Following the transaction, the director now directly owns 356,709 shares in the company, valued at approximately $1,441,104.36. This represents a 18.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 31.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its holdings in Navitas Semiconductor by 87.5% in the third quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock valued at $19,677,000 after purchasing an additional 3,748,124 shares during the period. State Street Corp lifted its stake in Navitas Semiconductor by 4.0% in the third quarter. State Street Corp now owns 5,826,638 shares of the company’s stock worth $14,275,000 after acquiring an additional 221,575 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in Navitas Semiconductor by 31.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock worth $8,713,000 after acquiring an additional 845,664 shares in the last quarter. Masters Capital Management LLC increased its position 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 valued at $7,467,000 after purchasing an additional 900,000 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Navitas Semiconductor in the 2nd quarter valued at $2,364,000. 46.14% of the stock is currently 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.