Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $214,871.80 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Brian Long sold 31,460 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $6.83, for a total value of $214,871.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Brian Long also recently made the following trade(s):

• On Wednesday, June 4th, Brian Long sold 2,955,509 shares of Navitas Semiconductor stock. The stock was sold at an average price of $6.61, for a total transaction of $19,535,914.49.
• On Friday, March 21st, Brian Long sold 47,189 shares of Navitas Semiconductor stock. The stock was sold at an average price of $2.36, for a total transaction of $111,366.04.

Navitas Semiconductor Stock Performance

Shares of NVTS opened at $6.18 on Friday. Navitas Semiconductor Co. has a 1 year low of $1.52 and a 1 year high of $7.53. The company’s 50 day simple moving average is $2.79 and its 200 day simple moving average is $2.94. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -14.71 and a beta of 2.96.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The company had revenue of $14.02 million during the quarter, compared to the consensus estimate of $14.01 million. During the same period in the previous year, the firm posted ($0.06) EPS. Navitas Semiconductor’s revenue was down 39.7% on a year-over-year basis. Equities analysts expect that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors have recently added to or reduced their stakes in NVTS. American Century Companies Inc. lifted its position in Navitas Semiconductor by 52.7% during the fourth quarter. American Century Companies Inc. now owns 15,704 shares of the company’s stock worth $56,000 after buying an additional 5,419 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Navitas Semiconductor by 125.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock worth $37,000 after acquiring an additional 5,726 shares during the period. 180 Wealth Advisors LLC boosted its position in shares of Navitas Semiconductor by 7.6% in the first quarter. 180 Wealth Advisors LLC now owns 97,602 shares of the company’s stock worth $200,000 after acquiring an additional 6,920 shares during the last quarter. Goodman Financial Corp acquired a new stake in shares of Navitas Semiconductor in the fourth quarter worth approximately $36,000. Finally, Caption Management LLC purchased a new stake in Navitas Semiconductor in the fourth quarter valued at approximately $36,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVTS has been the topic of several research reports. Robert W. Baird lowered their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Needham & Company LLC dropped their price target on Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Morgan Stanley cut Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $2.10 to $1.50 in a report on Monday, April 7th. Finally, Rosenblatt Securities upped their price objective on Navitas Semiconductor from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $3.79.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.