Navitas Semiconductor (NASDAQ:NVTS) Trading Down 9.8% - Time to Sell?

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) traded down 9.8% on Monday . The company traded as low as $2.92 and last traded at $2.94. 3,047,890 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 5,424,114 shares. The stock had previously closed at $3.26.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NVTS. Craig Hallum cut their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating for the company in a report on Tuesday, November 5th. Robert W. Baird decreased their price target 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 report on Tuesday, November 5th. Finally, Rosenblatt Securities reiterated 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 issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $4.75.

Navitas Semiconductor Trading Down 9.2 %

The firm has a fifty day moving average of $3.07 and a two-hundred day moving average of $3.07. The company has a market capitalization of $552.92 million, a PE ratio of -7.05 and a beta of 2.23.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The firm had revenue of $21.68 million during the quarter, compared to analyst estimates of $21.93 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. The business's quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities analysts expect that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard J. Hendrix sold 40,000 shares of the 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 transaction, the director now directly owns 316,709 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this link. Insiders own 31.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Benjamin Edwards Inc. purchased a new stake in Navitas Semiconductor in the third quarter worth $36,000. Bleakley Financial Group LLC bought a new stake in shares of Navitas Semiconductor during the 3rd quarter valued at $41,000. GSA Capital Partners LLP bought a new position in shares of Navitas Semiconductor in the 3rd quarter worth about $44,000. DRW Securities LLC purchased a new position in Navitas Semiconductor during the 2nd quarter valued at about $46,000. Finally, Wedbush Securities Inc. bought a new stake in Navitas Semiconductor during the second quarter worth about $49,000. Hedge funds and other 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.