Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $3,956,004.55 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Brian Long sold 473,773 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $8.35, for a total transaction of $3,956,004.55. Following the completion of the transaction, the director now directly owns 5,447,218 shares in the company, valued at $45,484,270.30. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Brian Long also recently made the following trade(s):

• On Thursday, June 12th, Brian Long sold 1,026,227 shares of Navitas Semiconductor stock. The stock was sold at an average price of $7.93, for a total transaction of $8,137,980.11.
• On Thursday, June 5th, Brian Long sold 31,460 shares of Navitas Semiconductor stock. The stock was sold at an average price of $6.83, for a total transaction of $214,871.80.
• On Wednesday, June 4th, Brian Long sold 2,955,509 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.61, for a total transaction of $19,535,914.49.
• On Friday, March 21st, Brian Long sold 47,189 shares of Navitas Semiconductor stock. The shares were sold at an average price of $2.36, for a total transaction of $111,366.04.

Navitas Semiconductor Trading Down 6.3%

NVTS stock opened at $7.32 on Friday. The company’s 50 day moving average is $3.38 and its 200 day moving average is $3.12. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -17.43 and a beta of 2.96. Navitas Semiconductor Co. has a 1-year low of $1.52 and a 1-year high of $9.17.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The company had revenue of $14.02 million for the quarter, compared to analysts’ expectations of $14.01 million. During the same period in the prior year, the business earned ($0.06) earnings per share. Navitas Semiconductor’s revenue for the quarter was down 39.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Robert W. Baird dropped their price objective on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Needham & Company LLC decreased their price target on Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Rosenblatt Securities upped their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley cut Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $2.10 to $1.50 in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Navitas Semiconductor has a consensus rating of “Moderate Buy” and a consensus price target of $3.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NVTS. Simplicity Wealth LLC bought a new position in Navitas Semiconductor during the first quarter valued at approximately $26,000. Larson Financial Group LLC bought a new position in Navitas Semiconductor during the first quarter valued at approximately $28,000. Benjamin Edwards Inc. purchased a new stake in shares of Navitas Semiconductor during the first quarter valued at approximately $31,000. Goodman Financial Corp purchased a new stake in shares of Navitas Semiconductor during the fourth quarter valued at approximately $36,000. Finally, Caption Management LLC purchased a new stake in shares of Navitas Semiconductor during the fourth quarter valued at approximately $36,000. 46.14% of the stock is currently owned by 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.