Navitas Semiconductor Co. (NASDAQ:NVTS) Director Brian Long Sells 473,773 Shares

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director Brian Long sold 473,773 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $8.35, for a total value of $3,956,004.55. Following the completion of the transaction, the director now owns 5,447,218 shares in the company, valued at $45,484,270.30. The trade was a 8.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Brian Long also recently made the following trade(s):

• On Thursday, June 12th, Brian Long sold 1,026,227 shares of Navitas Semiconductor stock. The stock was sold at an average price of $7.93, for a total transaction of $8,137,980.11.
• 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 transaction of $214,871.80.
• On Wednesday, June 4th, Brian Long sold 2,955,509 shares of Navitas Semiconductor stock. The stock was sold at an average price of $6.61, for a total transaction of $19,535,914.49.
• On Friday, March 21st, Brian Long sold 47,189 shares of Navitas Semiconductor stock. The shares were sold at an average price of $2.36, for a total transaction of $111,366.04.

Navitas Semiconductor Price Performance

Shares of NVTS stock traded down $0.49 during trading on Friday, hitting $7.32. 40,418,954 shares of the stock traded hands, compared to its average volume of 10,798,429. Navitas Semiconductor Co. has a 52-week low of $1.52 and a 52-week high of $9.17. The firm has a market capitalization of $1.40 billion, a P/E ratio of -17.43 and a beta of 2.96. The firm's fifty day moving average price is $3.38 and its 200-day moving average price is $3.12.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted 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 company had revenue of $14.02 million during the quarter, compared to analysts' expectations of $14.01 million. During the same quarter last year, the firm earned ($0.06) earnings per share. The firm's quarterly revenue was down 39.7% compared to the same quarter last year. As a group, equities research analysts expect that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Institutional Trading of Navitas Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the business. Simplicity Wealth LLC acquired a new position in Navitas Semiconductor in the first quarter valued at about $26,000. Larson Financial Group LLC purchased a new stake in shares of Navitas Semiconductor in the 1st quarter valued at approximately $28,000. Benjamin Edwards Inc. acquired a new position in shares of Navitas Semiconductor in the 1st quarter worth approximately $31,000. Goodman Financial Corp purchased a new position in shares of Navitas Semiconductor during the 4th quarter worth approximately $36,000. Finally, Caption Management LLC purchased a new position in shares of Navitas Semiconductor during the 4th quarter worth approximately $36,000. 46.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Robert W. Baird lowered their target price on Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Needham & Company LLC reduced 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. 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. Finally, Morgan Stanley downgraded Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $2.10 to $1.50 in a research note on Monday, April 7th. One 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, Navitas Semiconductor has an average rating of "Moderate Buy" and a consensus price target of $3.79.

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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