Navitas Semiconductor Corporation (NASDAQ:NVTS – Get 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.
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
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.
See Also
- Five stocks we like better than Navitas Semiconductor
- MarketBeat Week in Review – 05/25 – 05/29
- Shares Fall, Targets Rise—Markets and Analysts Diverge on Synopsys
- Salesforce Stock Finds Support as AI Momentum Builds
- Dollar Tree Keeps Winning After Family Dollar Divorce
Receive News & Ratings for Navitas Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navitas Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.
