Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $23,855.40 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director Gary Kent Wunderlich, Jr. sold 5,220 shares of Navitas Semiconductor stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $4.57, for a total transaction of $23,855.40. Following the transaction, the director now directly owns 395,224 shares in the company, valued at approximately $1,806,173.68. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Navitas Semiconductor Price Performance

NVTS stock traded down $0.30 during midday trading on Friday, hitting $5.09. The company's stock had a trading volume of 44,855,791 shares, compared to its average volume of 7,660,489. Navitas Semiconductor Co. has a twelve month low of $1.52 and a twelve month high of $7.53. The company's fifty day moving average price is $2.38 and its 200 day moving average price is $2.80. The stock has a market capitalization of $976.30 million, a P/E ratio of -12.12 and a beta of 2.24.

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

Analyst Ratings Changes

NVTS has been the topic of a number of recent analyst reports. Robert W. Baird reduced 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. Rosenblatt Securities boosted their price objective 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 cut shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $2.10 to $1.50 in a research report on Monday, April 7th. Finally, Needham & Company LLC cut their price objective 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 given a buy rating to the company's stock. According to data from MarketBeat.com, Navitas Semiconductor has an average rating of "Moderate Buy" and an average target price of $3.79.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in Navitas Semiconductor by 52.7% in the 4th quarter. American Century Companies Inc. now owns 15,704 shares of the company's stock valued at $56,000 after buying an additional 5,419 shares during the last quarter. Tower Research Capital LLC TRC increased its stake 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 purchasing an additional 5,726 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in shares of Navitas Semiconductor by 7.6% during the 1st quarter. 180 Wealth Advisors LLC now owns 97,602 shares of the company's stock worth $200,000 after purchasing an additional 6,920 shares during the last quarter. Goodman Financial Corp acquired a new position in shares of Navitas Semiconductor during the 4th quarter worth about $36,000. Finally, Caption Management LLC acquired a new position in shares of Navitas Semiconductor during the 4th quarter worth about $36,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

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.