Navitas Semiconductor (NASDAQ:NVTS) Shares Down 4.3% Following Insider Selling

Navitas Semiconductor Corporation (NASDAQ:NVTS)’s share price traded down 4.3% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $9.94 and last traded at $10.0410. 8,320,468 shares were traded during mid-day trading, a decline of 65% from the average session volume of 24,049,465 shares. The stock had previously closed at $10.49.

Specifically, CFO Todd Glickman sold 98,152 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the completion of the transaction, the chief financial officer directly owned 735,231 shares in the company, valued at $7,925,790.18. This represents a 11.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

NVTS has been the topic of several recent analyst reports. Rosenblatt Securities reissued a “neutral” rating and set a $7.00 target price on shares of Navitas Semiconductor in a report on Thursday, March 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $6.78.

Navitas Semiconductor Stock Down 7.7%

The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -15.89 and a beta of 3.16. The firm’s 50 day moving average is $9.26 and its 200 day moving average is $8.94.

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

Institutional Trading of Navitas Semiconductor

A number of hedge funds have recently bought and sold shares of NVTS. Rockefeller Capital Management L.P. boosted its position in Navitas Semiconductor by 1,438.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 53,834 shares of the company’s stock worth $384,000 after acquiring an additional 50,334 shares during the period. Virtu Financial LLC increased its holdings in shares of Navitas Semiconductor by 156.2% in the 4th quarter. Virtu Financial LLC now owns 128,615 shares of the company’s stock valued at $918,000 after purchasing an additional 78,409 shares during the period. Invesco Ltd. lifted its position in shares of Navitas Semiconductor by 257.8% in the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after purchasing an additional 3,413,394 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Navitas Semiconductor by 30.7% in the fourth quarter. NewEdge Advisors LLC now owns 28,533 shares of the company’s stock worth $204,000 after purchasing an additional 6,709 shares in the last quarter. Finally, VARCOV Co. purchased a new position in Navitas Semiconductor during the fourth quarter valued at approximately $589,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.