David Moxam Sells 78,649 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) Stock

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director David Moxam sold 78,649 shares of Navitas Semiconductor stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $7.90, for a total value of $621,327.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

David Moxam also recently made the following trade(s):

• On Tuesday, May 27th, David Moxam sold 714,199 shares of Navitas Semiconductor stock. The stock was sold at an average price of $6.50, for a total transaction of $4,642,293.50.
• On Friday, May 16th, David Moxam sold 75,000 shares of Navitas Semiconductor stock. The shares were sold at an average price of $2.08, for a total transaction of $156,000.00.

Navitas Semiconductor Stock Down 1.1%

Shares of Navitas Semiconductor stock traded down $0.09 on Friday, reaching $7.72. The company's stock had a trading volume of 26,512,014 shares, compared to its average volume of 10,714,175. Navitas Semiconductor Co. has a 52-week low of $1.52 and a 52-week high of $9.17. The company has a market capitalization of $1.48 billion, a P/E ratio of -18.46 and a beta of 2.96. The stock has a 50-day moving average price of $3.27 and a 200-day moving average price of $3.09.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $14.02 million for the quarter, compared to the consensus estimate of $14.01 million. During the same period last year, the firm posted ($0.06) earnings per share. The company's revenue was down 39.7% compared to the same quarter last year. Sell-side analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SCS Capital Management LLC purchased a new position in Navitas Semiconductor in the 1st quarter valued at $567,000. Hsbc Holdings PLC increased its holdings in shares of Navitas Semiconductor by 980.4% in the first quarter. Hsbc Holdings PLC now owns 158,566 shares of the company's stock valued at $323,000 after purchasing an additional 143,890 shares during the last quarter. American Century Companies Inc. boosted its stake in Navitas Semiconductor by 650.6% during the first quarter. American Century Companies Inc. now owns 117,873 shares of the company's stock worth $242,000 after buying an additional 102,169 shares during the last quarter. Nuveen LLC purchased a new stake in Navitas Semiconductor in the 1st quarter valued at $675,000. Finally, Invesco Ltd. increased its stake in shares of Navitas Semiconductor by 22.2% in the 1st quarter. Invesco Ltd. now owns 1,829,803 shares of the company's stock worth $3,751,000 after acquiring an additional 331,832 shares during the last quarter. 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 a number of recent research reports. Rosenblatt Securities upped their target price on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Needham & Company LLC lowered their price objective on Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley lowered shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $2.10 to $1.50 in a report on Monday, April 7th. Finally, Robert W. Baird lowered their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $3.79.

About Navitas Semiconductor

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.