Todd Glickman Sells 100,000 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) Stock

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) CFO Todd Glickman sold 100,000 shares of Navitas Semiconductor stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $8.00, for a total value of $800,000.00. Following the completion of the sale, the chief financial officer now directly owns 134,501 shares of the company's stock, valued at approximately $1,076,008. The trade was a 42.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Todd Glickman also recently made the following trade(s):

• On Thursday, May 22nd, Todd Glickman sold 532,342 shares of Navitas Semiconductor stock. The stock was sold at an average price of $4.49, for a total value of $2,390,215.58.

Navitas Semiconductor Price Performance

Shares of NVTS stock traded down $0.13 during trading hours on Monday, hitting $7.19. The stock had a trading volume of 58,533,101 shares, compared to its average volume of 11,026,162. Navitas Semiconductor Co. has a one year low of $1.52 and a one year high of $9.17. The stock's 50-day moving average price is $3.38 and its two-hundred day moving average price is $3.13. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -17.12 and a beta of 2.96.

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

Analyst Ratings Changes

Several research firms recently weighed in on NVTS. Rosenblatt Securities lifted their target price on Navitas Semiconductor from $4.00 to $6.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Robert W. Baird lowered their price objective on Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. 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. Finally, Morgan Stanley downgraded Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $2.10 to $1.50 in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $3.79.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NVTS. Simplicity Wealth LLC purchased a new position in shares of Navitas Semiconductor during the first quarter valued at approximately $26,000. Larson Financial Group LLC purchased a new stake in shares of Navitas Semiconductor in the first quarter valued at approximately $28,000. Benjamin Edwards Inc. purchased a new stake in shares of Navitas Semiconductor in the first quarter valued at approximately $31,000. Goodman Financial Corp purchased a new stake in shares of Navitas Semiconductor in the fourth quarter valued at approximately $36,000. Finally, Caption Management LLC purchased a new stake in shares of Navitas Semiconductor in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 46.14% of the company's stock.

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.