Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director Gary Kent Wunderlich, Jr. sold 2,610 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $7.36, for a total value of $19,209.60. Following the transaction, the director now directly owns 338,435 shares of the company's stock, valued at approximately $2,490,881.60. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Navitas Semiconductor Trading Down 1.9%
NASDAQ NVTS traded down $0.15 on Thursday, reaching $7.81. The stock had a trading volume of 47,682,555 shares, compared to its average volume of 10,621,421. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -18.59 and a beta of 2.96. The business has a 50 day moving average price of $3.15 and a 200 day moving average price of $3.05. Navitas Semiconductor Co. has a 1 year low of $1.52 and a 1 year high of $9.17.
Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $14.01 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The firm's revenue for the quarter was down 39.7% compared to the same quarter last year. On average, analysts anticipate that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.
Institutional Trading of Navitas Semiconductor
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SCS Capital Management LLC bought a new position in Navitas Semiconductor during the first quarter worth about $567,000. Hsbc Holdings PLC increased its holdings in shares of Navitas Semiconductor by 980.4% during the 1st quarter. Hsbc Holdings PLC now owns 158,566 shares of the company's stock worth $323,000 after acquiring an additional 143,890 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Navitas Semiconductor by 650.6% during the 1st quarter. American Century Companies Inc. now owns 117,873 shares of the company's stock worth $242,000 after acquiring an additional 102,169 shares during the last quarter. Nuveen LLC acquired a new position in Navitas Semiconductor in the 1st quarter valued at $675,000. Finally, Invesco Ltd. grew its holdings in shares of Navitas Semiconductor by 22.2% during the 1st quarter. Invesco Ltd. now owns 1,829,803 shares of the company's stock worth $3,751,000 after purchasing an additional 331,832 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have weighed in on NVTS shares. Robert W. Baird reduced their price objective on Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating for the company in a research note 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 raised their price objective on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Morgan Stanley lowered Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $2.10 to $1.50 in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $3.79.
Get Our Latest Report on Navitas Semiconductor
Navitas Semiconductor Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Navitas Semiconductor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Navitas Semiconductor wasn't on the list.
While Navitas Semiconductor currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
