Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director Brian Long sold 1,026,227 shares of the company's stock in a transaction 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 now owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Brian Long also recently made the following trade(s):
- On Wednesday, June 11th, Brian Long sold 473,773 shares of Navitas Semiconductor stock. The stock was sold at an average price of $8.35, for a total value of $3,956,004.55.
- On Thursday, June 5th, Brian Long sold 31,460 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.83, for a total value of $214,871.80.
- On Wednesday, June 4th, Brian Long sold 2,955,509 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.61, for a total value of $19,535,914.49.
- On Friday, March 21st, Brian Long sold 47,189 shares of Navitas Semiconductor stock. The stock was sold at an average price of $2.36, for a total value of $111,366.04.
Navitas Semiconductor Stock Down 6.3%
NVTS traded down $0.49 during trading hours on Friday, hitting $7.32. The stock had a trading volume of 40,418,954 shares, compared to its average volume of 10,834,390. Navitas Semiconductor Co. has a 1 year low of $1.52 and a 1 year high of $9.17. The company's fifty day simple moving average is $3.38 and its 200 day simple moving average is $3.13. The stock has a market cap of $1.40 billion, a PE ratio of -17.43 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 for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $14.01 million. During the same quarter last year, the business earned ($0.06) earnings per share. The company's quarterly revenue was down 39.7% on a year-over-year basis. As a group, equities analysts expect that Navitas Semiconductor Co. will post -0.51 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of NVTS. Goodman Financial Corp bought a new position in shares of Navitas Semiconductor in the fourth quarter worth $36,000. Caption Management LLC purchased a new stake in Navitas Semiconductor during the 4th quarter worth about $36,000. Tower Research Capital LLC TRC boosted its stake in Navitas Semiconductor by 125.4% in 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 period. Steel Grove Capital Advisors LLC purchased a new position in Navitas Semiconductor during the 4th quarter valued at about $39,000. Finally, Cibc World Markets Corp purchased a new position in Navitas Semiconductor during the 4th quarter valued at about $42,000. 46.14% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. Morgan Stanley lowered Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $2.10 to $1.50 in a research report on Monday, April 7th. Rosenblatt Securities raised their price objective on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Robert W. Baird lowered their price objective 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. Finally, Needham & Company LLC reduced their target price on shares of 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 investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $3.79.
View Our Latest Analysis on Navitas Semiconductor
About Navitas Semiconductor
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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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