Navitas Semiconductor (NASDAQ:NVTS) Director Sells $2,052,030.00 in Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.11, for a total value of $2,052,030.00. Following the completion of the sale, the director owned 13,964 shares of the company’s stock, valued at $392,528.04. This trade represents a 83.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Navitas Semiconductor Stock Down 6.7%

NVTS traded down $1.91 during trading on Friday, reaching $26.60. The stock had a trading volume of 22,993,232 shares, compared to its average volume of 28,054,346. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of -42.22 and a beta of 3.62. Navitas Semiconductor Corporation has a 1-year low of $4.95 and a 1-year high of $33.82. The stock has a 50 day moving average of $15.46 and a two-hundred day moving average of $11.15.

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

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP lifted its position in shares of Navitas Semiconductor by 309.4% during the 3rd 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 during the last quarter. Geneos Wealth Management Inc. raised its stake in Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after purchasing an additional 4,000 shares during the period. NewEdge Advisors LLC raised its stake in Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after purchasing an additional 2,942 shares during the period. GAMMA Investing LLC raised its stake in Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after purchasing an additional 2,548 shares during the period. Finally, State of Wyoming raised its stake in Navitas Semiconductor by 92.8% during the 1st quarter. State of Wyoming now owns 4,803 shares of the company’s stock valued at $42,000 after purchasing an additional 2,312 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NVTS. Morgan Stanley restated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Rosenblatt Securities increased their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Robert W. Baird increased their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. 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 reiterated 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 given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $12.87.

About Navitas Semiconductor

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.