Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $17,379,082.06 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director Ranbir Singh sold 2,339,042 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $7.43, for a total transaction of $17,379,082.06. Following the completion of the transaction, the director now owns 20,051,000 shares of the company's stock, valued at approximately $148,978,930. This trade represents a 10.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Ranbir Singh also recently made the following trade(s):

• On Thursday, June 5th, Ranbir Singh sold 16,377 shares of Navitas Semiconductor stock. The stock was sold at an average price of $6.43, for a total value of $105,304.11.
• On Wednesday, June 4th, Ranbir Singh sold 2,000,000 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.76, for a total value of $13,520,000.00.
• On Tuesday, March 18th, Ranbir Singh sold 4,400 shares of Navitas Semiconductor stock. The shares were sold at an average price of $2.55, for a total value of $11,220.00.

Navitas Semiconductor Stock Performance

Shares of NASDAQ:NVTS traded up $0.04 during trading hours on Thursday, hitting $8.00. 32,320,054 shares of the company's stock traded hands, compared to its average volume of 10,573,782. The company's fifty day simple moving average is $3.15 and its two-hundred day simple moving average is $3.05. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -19.05 and a beta of 2.96. Navitas Semiconductor Co. has a 52 week low of $1.52 and a 52 week high of $9.17.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly 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 net margin of 84.61% and a negative return on equity of 23.64%. The firm had revenue of $14.02 million for the quarter, compared to analyst estimates of $14.01 million. During the same quarter in the previous year, the business posted ($0.06) earnings per share. The firm's quarterly revenue was down 39.7% compared to the same quarter last year. On average, analysts anticipate that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds have recently modified their holdings of the stock. Goodman Financial Corp purchased a new position in Navitas Semiconductor in the 4th quarter worth about $36,000. Caption Management LLC purchased a new stake in Navitas Semiconductor during the fourth quarter valued at about $36,000. Tower Research Capital LLC TRC boosted its holdings in shares of Navitas Semiconductor by 125.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company's stock worth $37,000 after buying an additional 5,726 shares during the period. Steel Grove Capital Advisors LLC purchased a new position in shares of Navitas Semiconductor in the fourth quarter worth approximately $39,000. Finally, Cibc World Markets Corp purchased a new position in shares of Navitas Semiconductor in the fourth quarter worth approximately $42,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on NVTS shares. Needham & Company LLC lowered their target price on shares of Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley lowered shares of 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 note on Monday, April 7th. Rosenblatt Securities boosted their target price on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Robert W. Baird cut their target price on Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to MarketBeat, Navitas Semiconductor has an average rating of "Moderate Buy" and an average 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.