Navitas Semiconductor Co. (NASDAQ:NVTS) Director Ranbir Singh Sells 21,782 Shares

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Ranbir Singh sold 21,782 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $8.53, for a total value of $185,800.46. Following the transaction, the director now owns 19,214,053 shares in the company, valued at approximately $163,895,872.09. The trade was a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Ranbir Singh also recently made the following trade(s):

• On Tuesday, June 10th, Ranbir Singh sold 815,165 shares of Navitas Semiconductor stock. The stock was sold at an average price of $8.31, for a total value of $6,774,021.15.
• On Monday, June 9th, Ranbir Singh sold 2,339,042 shares of Navitas Semiconductor stock. The stock was sold at an average price of $7.43, for a total value of $17,379,082.06.
• On Thursday, June 5th, Ranbir Singh sold 16,377 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.43, for a total transaction of $105,304.11.
• On Wednesday, June 4th, Ranbir Singh sold 2,000,000 shares of Navitas Semiconductor stock. The stock was sold at an average price of $6.76, for a total transaction of $13,520,000.00.
• On Tuesday, March 18th, Ranbir Singh sold 4,400 shares of Navitas Semiconductor stock. The shares were sold at an average price of $2.55, for a total transaction of $11,220.00.

Navitas Semiconductor Stock Performance

NASDAQ:NVTS opened at $7.32 on Friday. Navitas Semiconductor Co. has a fifty-two week low of $1.52 and a fifty-two week high of $9.17. The company has a 50 day moving average price of $3.38 and a 200 day moving average price of $3.12. The stock has a market capitalization of $1.40 billion, a P/E ratio of -17.43 and a beta of 2.96.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Monday, May 5th. 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 business had revenue of $14.02 million during the quarter, compared to analyst estimates of $14.01 million. During the same period last year, the business posted ($0.06) earnings per share. The company’s quarterly revenue was down 39.7% on a year-over-year basis. Research analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Compass Capital Corp MA ADV purchased a new stake in Navitas Semiconductor during the fourth quarter worth about $553,000. Edge Capital Group LLC acquired a new position in shares of Navitas Semiconductor in the fourth quarter valued at approximately $987,000. Bank of New York Mellon Corp grew its holdings in shares of Navitas Semiconductor by 27.6% in the fourth quarter. Bank of New York Mellon Corp now owns 498,713 shares of the company’s stock valued at $1,780,000 after purchasing an additional 107,828 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Navitas Semiconductor during the 4th quarter worth approximately $66,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Navitas Semiconductor by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,046,750 shares of the company’s stock valued at $3,737,000 after buying an additional 76,870 shares during the period. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVTS has been the subject of a number of recent analyst reports. Needham & Company LLC cut their price target on shares of Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Robert W. Baird cut their target price on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Morgan Stanley downgraded Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $2.10 to $1.50 in a research report on Monday, April 7th. Finally, Rosenblatt Securities increased their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Moderate Buy” and an average target price of $3.79.

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.