Navitas Semiconductor (NASDAQ:NVTS) Director Ranbir Singh Sells 664,058 Shares of Stock

Navitas Semiconductor Corporation (NASDAQ:NVTSGet Free Report) Director Ranbir Singh sold 664,058 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.72, for a total transaction of $19,071,745.76. Following the transaction, the director owned 14,943,475 shares of the company’s stock, valued at $429,176,602. The trade was a 4.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

  • On Wednesday, May 27th, Ranbir Singh sold 3,060,118 shares of Navitas Semiconductor stock. The stock was sold at an average price of $29.29, for a total transaction of $89,630,856.22.

Navitas Semiconductor Trading Down 6.7%

Shares of NVTS opened at $26.60 on Friday. Navitas Semiconductor Corporation has a 12 month low of $4.95 and a 12 month high of $33.82. The firm has a fifty day simple moving average of $15.81 and a 200 day simple moving average of $11.26. The stock 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 announced its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping 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 business had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $8.22 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The firm’s revenue was down 38.7% on a year-over-year basis. As a group, research analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Institutional Trading of Navitas Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after acquiring an additional 2,698 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Navitas Semiconductor by 3,200.0% during the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after acquiring an additional 4,000 shares in the last quarter. NewEdge Advisors LLC raised its position in Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after acquiring an additional 2,942 shares in the last quarter. GAMMA Investing LLC raised its position in Navitas Semiconductor by 116.5% during the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after acquiring an additional 2,548 shares in the last quarter. Finally, State of Wyoming raised its position in Navitas Semiconductor by 92.8% during the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after acquiring an additional 2,312 shares in the last quarter. 46.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

NVTS has been the subject of several recent research reports. Needham & Company LLC increased their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Morgan Stanley restated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Robert W. Baird increased their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Finally, Rosenblatt Securities upped their price target 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 company’s stock. According to data from MarketBeat, Navitas Semiconductor has a consensus rating of “Hold” and a consensus target price of $12.87.

Read Our Latest Report on Navitas Semiconductor

About Navitas Semiconductor

(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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