Insider Selling: Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells 32,366 Shares of Stock

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director Gary Kent Wunderlich, Jr. sold 32,366 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $4.75, for a total value of $153,738.50. Following the sale, the director now directly owns 395,224 shares in the company, valued at $1,877,314. This trade represents a 7.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Navitas Semiconductor Stock Performance

Shares of Navitas Semiconductor stock traded down $0.30 during trading hours on Friday, hitting $5.09. The company's stock had a trading volume of 31,039,703 shares, compared to its average volume of 7,571,731. The business has a 50 day moving average price of $2.32 and a two-hundred day moving average price of $2.77. Navitas Semiconductor Co. has a 12-month low of $1.52 and a 12-month high of $7.53. The company has a market cap of $977.07 million, a PE ratio of -11.94 and a beta of 2.24.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.06) EPS for the quarter, hitting analysts' consensus estimates of ($0.06). The company had revenue of $14.02 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned ($0.06) earnings per share. As a group, research analysts anticipate that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Morgan Stanley lowered Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and reduced 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 price target 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. Robert W. Baird reduced their price target on 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, Rosenblatt Securities raised their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Navitas Semiconductor currently has a consensus rating of "Moderate Buy" and an average price target of $3.79.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Goodman Financial Corp bought a new position in shares of Navitas Semiconductor during the fourth quarter valued at approximately $36,000. Caption Management LLC bought a new position in shares of Navitas Semiconductor during the fourth quarter valued at approximately $36,000. Tower Research Capital LLC TRC grew its stake in 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 purchasing an additional 5,726 shares in the last quarter. Steel Grove Capital Advisors LLC bought a new position in Navitas Semiconductor in the fourth quarter worth approximately $39,000. Finally, Cibc World Markets Corp purchased a new stake in Navitas Semiconductor during the fourth quarter worth $42,000. Institutional investors 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.