Navitas Semiconductor Co. (NASDAQ:NVTS) Director Richard J. Hendrix Sells 32,725 Shares

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director Richard J. Hendrix sold 32,725 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $6.38, for a total transaction of $208,785.50. Following the completion of the sale, the director now owns 143,984 shares in the company, valued at $918,617.92. This represents a 18.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Navitas Semiconductor Trading Down 5.6%

NVTS traded down $0.30 on Friday, hitting $5.09. 44,855,791 shares of the company were exchanged, compared to its average volume of 7,660,489. Navitas Semiconductor Co. has a twelve month low of $1.52 and a twelve month high of $7.53. The firm has a 50-day moving average price of $2.38 and a two-hundred day moving average price of $2.80. The company has a market cap of $976.30 million, a price-to-earnings ratio of -12.12 and a beta of 2.24.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.06). The company had revenue of $14.02 million during the quarter, compared to analysts' expectations of $14.01 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The firm's revenue for the quarter was down 39.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) earnings per share. Equities analysts expect that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Morgan Stanley cut shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $2.10 to $1.50 in a research report on Monday, April 7th. Needham & Company LLC reduced 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 report on Tuesday, May 6th. Rosenblatt Securities lifted their price objective on Navitas Semiconductor from $4.00 to $6.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, Robert W. Baird decreased their target price on shares of Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating for the company in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $3.79.

Institutional Investors Weigh In On Navitas Semiconductor

A number of large investors have recently bought and sold shares of NVTS. Simplicity Wealth LLC purchased a new stake in Navitas Semiconductor during the 1st quarter worth about $26,000. Larson Financial Group LLC acquired a new position in Navitas Semiconductor in the 1st quarter valued at $28,000. Benjamin Edwards Inc. acquired a new stake in shares of Navitas Semiconductor during the first quarter worth $31,000. Goodman Financial Corp purchased a new stake in shares of Navitas Semiconductor in the fourth quarter valued at $36,000. Finally, Caption Management LLC purchased a new position in Navitas Semiconductor during the fourth quarter worth about $36,000. Institutional investors and hedge funds 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.