Insider Selling: Navitas Semiconductor (NASDAQ:NVTS) Director Sells 110,165 Shares of Stock

Navitas Semiconductor Corporation (NASDAQ:NVTSGet Free Report) Director Richard Hendrix sold 110,165 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total value of $3,190,378.40. Following the completion of the transaction, the director directly owned 101,709 shares in the company, valued at approximately $2,945,492.64. This represents a 52.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Navitas Semiconductor Stock Down 6.7%

NASDAQ NVTS traded down $1.91 during trading hours on Friday, reaching $26.60. The company’s stock had a trading volume of 22,993,232 shares, compared to its average volume of 28,054,346. The firm’s 50-day moving average price is $15.46 and its 200-day moving average price is $11.15. Navitas Semiconductor Corporation has a 1 year low of $4.95 and a 1 year high of $33.82. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of -42.22 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTSGet Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $8.60 million for the quarter, compared to analysts’ expectations 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 was down 38.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) EPS. Equities research analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Institutional Trading of Navitas Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Prospera Financial Services Inc raised its holdings in Navitas Semiconductor by 3.8% during the 3rd quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock valued at $219,000 after buying an additional 1,120 shares during the period. Kestra Advisory Services LLC raised its holdings in Navitas Semiconductor by 2.8% during the 1st quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock valued at $370,000 after buying an additional 1,150 shares during the period. Russell Investments Group Ltd. raised its holdings in Navitas Semiconductor by 12.6% during the 4th quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock valued at $96,000 after buying an additional 1,505 shares during the period. Captrust Financial Advisors raised its holdings in Navitas Semiconductor by 3.8% during the 2nd quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock valued at $300,000 after buying an additional 1,667 shares during the period. Finally, Wealthcare Advisory Partners LLC raised its holdings in Navitas Semiconductor by 16.8% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock valued at $86,000 after buying an additional 1,725 shares during the period. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Wall Street Analyst Weigh In

NVTS has been the topic of several recent research reports. Morgan Stanley reaffirmed an “underweight” rating and set a $13.70 price objective on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Robert W. Baird upped their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Needham & Company LLC upped their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Finally, Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.87.

Read Our Latest Research Report on Navitas Semiconductor

Navitas Semiconductor Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Navitas Semiconductor (NASDAQ:NVTS)

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