Insider Selling: Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells 31,460 Shares of Stock

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director Brian Long sold 31,460 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $6.83, for a total transaction of $214,871.80. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were 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 Trading Down 10.8%

Shares of NASDAQ:NVTS traded down $0.73 during midday trading on Thursday, hitting $6.05. 65,502,678 shares of the stock were exchanged, compared to its average volume of 8,874,630. The stock has a market cap of $1.16 billion, a P/E ratio of -14.40 and a beta of 2.96. The company has a 50 day moving average price of $2.71 and a 200-day moving average price of $2.91. Navitas Semiconductor Co. has a twelve month low of $1.52 and a twelve month high of $7.53.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.06) EPS for the quarter, hitting analysts' consensus estimates of ($0.06). The firm had revenue of $14.02 million during the quarter, compared to analysts' expectations of $14.01 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The firm's quarterly revenue was down 39.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. On average, equities research analysts expect that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in Navitas Semiconductor by 52.7% in the 4th quarter. American Century Companies Inc. now owns 15,704 shares of the company's stock worth $56,000 after purchasing an additional 5,419 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Navitas Semiconductor by 125.4% in 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 lifted its position in shares of Navitas Semiconductor by 7.6% in the 1st 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 period. Goodman Financial Corp acquired a new position in shares of Navitas Semiconductor in the 4th quarter worth approximately $36,000. Finally, Caption Management LLC acquired a new position in shares of Navitas Semiconductor in the 4th quarter worth approximately $36,000. 46.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on NVTS shares. Rosenblatt Securities boosted their price target on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley lowered shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $2.10 to $1.50 in a research note on Monday, April 7th. Robert W. Baird dropped 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 note on Wednesday, March 5th. Finally, Needham & Company LLC lowered their target price on shares of Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.

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