Navitas Semiconductor Co. (NASDAQ:NVTS) CEO Eugene Sheridan Sells 238,668 Shares

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) CEO Eugene Sheridan sold 238,668 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 461,332 shares of the company's stock, valued at $3,459,990. This trade represents a 34.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Eugene Sheridan also recently made the following trade(s):

• On Wednesday, June 11th, Eugene Sheridan sold 361,332 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.23, for a total value of $2,973,762.36.
• On Friday, May 23rd, Eugene Sheridan sold 2,155,783 shares of Navitas Semiconductor stock. The shares were sold at an average price of $4.49, for a total transaction of $9,679,465.67.

Navitas Semiconductor Stock Performance

Shares of NASDAQ NVTS traded down $0.49 during trading on Friday, hitting $7.32. 40,418,954 shares of the company traded hands, compared to its average volume of 10,798,429. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -17.43 and a beta of 2.96. The business's fifty day moving average is $3.38 and its 200 day moving average is $3.12. Navitas Semiconductor Co. has a fifty-two week low of $1.52 and a fifty-two week high of $9.17.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Rosenblatt Securities boosted their price target on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Robert W. Baird dropped their target price 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. Morgan Stanley downgraded Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $2.10 to $1.50 in a report on Monday, April 7th. Finally, Needham & Company LLC lowered their price objective on Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $3.79.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of NVTS. American Century Companies Inc. raised its holdings in shares of 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 acquiring an additional 5,419 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in 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 acquiring an additional 5,726 shares during the last quarter. 180 Wealth Advisors LLC boosted its holdings in 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 acquiring an additional 6,920 shares during the last quarter. Goodman Financial Corp bought a new stake in shares of Navitas Semiconductor in the 4th quarter worth $36,000. Finally, Caption Management LLC purchased a new stake in shares of Navitas Semiconductor in the fourth quarter valued at about $36,000. Institutional investors own 46.14% of the company's stock.

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.

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