Richard Hendrix Sells 33,649 Shares of Navitas Semiconductor (NASDAQ:NVTS) Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Richard Hendrix sold 33,649 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total value of $998,029.34. Following the completion of the transaction, the director owned 33,855 shares of the company’s stock, valued at $1,004,139.30. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Navitas Semiconductor Trading Down 6.7%

Navitas Semiconductor stock traded down $1.91 during mid-day trading on Friday, hitting $26.60. The company’s stock had a trading volume of 22,993,232 shares, compared to its average volume of 28,054,346. Navitas Semiconductor Corporation has a 1 year low of $4.95 and a 1 year high of $33.82. The stock’s fifty day moving average is $15.46 and its two-hundred day moving average is $11.15. The firm has a market capitalization of $6.22 billion, a PE ratio of -42.22 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The business had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. During the same period last year, the business posted ($0.06) earnings per share. The company’s quarterly revenue was down 38.7% on a year-over-year basis. On average, equities analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on NVTS. Morgan Stanley restated an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Rosenblatt Securities raised their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Needham & Company LLC raised their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.87.

Institutional Trading of Navitas Semiconductor

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP raised its stake in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after acquiring an additional 2,698 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after acquiring an additional 4,000 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after acquiring an additional 2,942 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after acquiring an additional 2,548 shares in the last quarter. Finally, State of Wyoming raised its stake in shares of Navitas Semiconductor by 92.8% in the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock valued at $42,000 after acquiring an additional 2,312 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Company Profile

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.