Navitas Semiconductor (NASDAQ:NVTS) CEO Chris Allexandre Sells 9,236 Shares

Navitas Semiconductor Corporation (NASDAQ:NVTS) CEO Chris Allexandre sold 9,236 shares of Navitas Semiconductor stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the transaction, the chief executive officer owned 813,323 shares in the company, valued at $7,262,974.39. This represents a 1.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Navitas Semiconductor Trading Down 5.2%

NVTS stock traded down $0.47 during mid-day trading on Friday, hitting $8.49. The stock had a trading volume of 7,471,808 shares, compared to its average volume of 23,457,115. Navitas Semiconductor Corporation has a 1-year low of $1.52 and a 1-year high of $17.79. The company has a fifty day moving average of $9.04 and a 200 day moving average of $8.72. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -14.89 and a beta of 3.16.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $7.30 million for the quarter, compared to the consensus estimate of $6.95 million. Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 14.52%. The business’s quarterly revenue was down 59.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) earnings per share. As a group, sell-side analysts expect that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Navitas Semiconductor

A number of hedge funds have recently added to or reduced their stakes in NVTS. Nisa Investment Advisors LLC lifted its position in shares of Navitas Semiconductor by 121.8% during the second quarter. Nisa Investment Advisors LLC now owns 11,614 shares of the company’s stock worth $76,000 after purchasing an additional 6,377 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in Navitas Semiconductor in the 2nd quarter valued at $421,000. Arkadios Wealth Advisors bought a new position in Navitas Semiconductor in the 2nd quarter valued at $74,000. Spire Wealth Management increased its stake in shares of Navitas Semiconductor by 1,480.0% in the 2nd quarter. Spire Wealth Management now owns 15,800 shares of the company’s stock valued at $103,000 after buying an additional 14,800 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Navitas Semiconductor during the second quarter worth $461,000. Institutional investors own 46.14% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Rosenblatt Securities reduced their price objective on Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Navitas Semiconductor has a consensus rating of “Reduce” and a consensus price target of $6.78.

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.