Navitas Semiconductor (NASDAQ:NVTS) Director Sells $3,190,378.40 in Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Richard Hendrix sold 110,165 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the completion of the sale, the director owned 101,709 shares of the company’s stock, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Navitas Semiconductor Price Performance

NVTS stock opened at $26.60 on Monday. The company has a fifty day moving average price of $15.81 and a 200 day moving average price of $11.27. Navitas Semiconductor Corporation has a 12 month low of $4.95 and a 12 month high of $33.82. The company has a market cap of $6.22 billion, a price-to-earnings ratio of -42.22 and a beta of 3.75.

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

Analysts Set New Price Targets

Several research firms recently commented on NVTS. Robert W. Baird upped their price target on shares of 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 shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Morgan Stanley restated an “underweight” rating and set a $13.70 price objective on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Needham & Company LLC upped their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Rosenblatt Securities upped their price objective on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.87.

Hedge Funds Weigh In On Navitas Semiconductor

Large investors have recently bought and sold shares of the company. Allworth Financial LP raised its position in Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after buying an additional 2,698 shares during the last quarter. NewEdge Advisors LLC raised its position in Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after buying an additional 2,942 shares during the last quarter. GAMMA Investing LLC raised its position in Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after buying an additional 2,548 shares during the last quarter. Geneos Wealth Management Inc. raised its position 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 worth $36,000 after buying an additional 4,000 shares during the last quarter. Finally, State of Wyoming increased its holdings in shares of Navitas Semiconductor by 92.8% in 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 in the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.