Ranbir Singh Sells 389,096 Shares of Navitas Semiconductor (NASDAQ:NVTS) Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Ranbir Singh sold 389,096 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $9.52, for a total value of $3,704,193.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ranbir Singh also recently made the following trade(s):

• On Friday, December 12th, Ranbir Singh sold 179,354 shares of Navitas Semiconductor stock. The stock was sold at an average price of $8.68, for a total value of $1,556,792.72.

Navitas Semiconductor Trading Down 6.8%

Shares of NASDAQ NVTS opened at $8.90 on Wednesday. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -15.61 and a beta of 3.16. Navitas Semiconductor Corporation has a one year low of $1.52 and a one year high of $17.79. The business has a fifty day simple moving average of $8.98 and a 200 day simple moving average of $8.71.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Tuesday, February 24th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 15.27%. The firm had revenue of $7.30 million for the quarter, compared to the consensus estimate of $6.95 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The business’s revenue was down 59.4% compared to the same quarter last year. On average, research analysts anticipate that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Navitas Semiconductor by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock worth $104,896,000 after purchasing an additional 1,330,703 shares during the last quarter. State Street Corp grew its holdings in Navitas Semiconductor by 18.0% during the 4th quarter. State Street Corp now owns 8,597,950 shares of the company’s stock worth $61,389,000 after acquiring an additional 1,308,626 shares during the last quarter. Invesco Ltd. grew its holdings in Navitas Semiconductor by 257.8% during the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after acquiring an additional 3,413,394 shares during the last quarter. Geode Capital Management LLC increased its position in Navitas Semiconductor by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock valued at $31,546,000 after acquiring an additional 501,110 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of Navitas Semiconductor by 131.0% in the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after acquiring an additional 1,875,228 shares during the last quarter. 46.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NVTS shares. Needham & Company LLC upped their price objective on Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Rosenblatt Securities lowered their price target on Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.32.

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.