Investors Purchase Large Volume of Call Options on Navitas Semiconductor (NASDAQ:NVTS)

Key Points

• On Tuesday, investors purchased a total of 66,494 call options for Navitas Semiconductor, representing a significant 110% increase from the usual volume of 31,656.
• Insider transactions show Director Brian Long and CEO Eugene Sheridan sold substantial shares, with Long's sales resulting in an 18.84% decrease in his position, while Sheridan's sale marked a 34.10% reduction in his ownership.
• Analyst ratings for Navitas Semiconductor are mixed, with one sell rating, one hold, and four buy ratings; the consensus price target is $3.71.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors bought 66,494 call options on the company. Thisisanincreaseof110% compared to the typical volume of 31,656 call options.

Insider Activity

In other Navitas Semiconductor news, Director Brian Long sold 1,026,227 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $7.93, for a total transaction of $8,137,980.11. Following the completion of the sale, the director directly owned 4,420,991 shares of the company's stock, valued at approximately $35,058,458.63. The trade was a 18.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eugene Sheridan sold 238,668 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $7.50, for a total value of $1,790,010.00. Following the sale, the chief executive officer directly owned 461,332 shares of the company's stock, valued at $3,459,990. This represents a 34.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,084,600 shares of company stock worth $99,761,157. Company insiders own 29.90% of the company's stock.

Hedge Funds Weigh In On Navitas Semiconductor

Several institutional investors have recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of Navitas Semiconductor by 9.5% during the fourth quarter. Northern Trust Corp now owns 1,209,761 shares of the company's stock worth $4,319,000 after acquiring an additional 104,906 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Navitas Semiconductor during the fourth quarter worth $52,000. Merit Financial Group LLC purchased a new stake in shares of Navitas Semiconductor during the first quarter worth $48,000. Bank of America Corp DE lifted its position in shares of Navitas Semiconductor by 180.5% during the fourth quarter. Bank of America Corp DE now owns 1,234,375 shares of the company's stock worth $4,407,000 after acquiring an additional 794,371 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Navitas Semiconductor during the fourth quarter worth $52,000. Hedge funds and other institutional investors own 46.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NVTS. Rosenblatt Securities upped their target price on Navitas Semiconductor from $4.00 to $6.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Morgan Stanley lowered Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $2.10 to $1.50 in a report on Monday, April 7th. Deutsche Bank Aktiengesellschaft lowered Navitas Semiconductor from a "buy" rating to a "hold" rating and set a $3.50 target price for the company. in a report on Tuesday, June 17th. Finally, Needham & Company LLC reduced their target price on Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $3.71.

Navitas Semiconductor Trading Up 1.1%

Navitas Semiconductor stock opened at $8.05 on Tuesday. Navitas Semiconductor has a 12 month low of $1.52 and a 12 month high of $9.48. The business's 50 day simple moving average is $6.92 and its 200 day simple moving average is $4.01. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -15.48 and a beta of 3.02.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). Navitas Semiconductor had a negative return on equity of 22.62% and a negative net margin of 131.83%. The business had revenue of $14.49 million for the quarter, compared to the consensus estimate of $14.43 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. Navitas Semiconductor's revenue for the quarter was down 29.2% on a year-over-year basis. As a group, equities research analysts forecast that Navitas Semiconductor will post -0.51 earnings per share for the current fiscal year.

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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