Insider Selling: Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells 815,165 Shares of Stock

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director Ranbir Singh sold 815,165 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $8.31, for a total value of $6,774,021.15. Following the sale, the director now directly owns 19,235,835 shares in the company, valued at approximately $159,849,788.85. This trade represents a 4.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, June 11th, Ranbir Singh sold 21,782 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.53, for a total value of $185,800.46.
• On Monday, June 9th, Ranbir Singh sold 2,339,042 shares of Navitas Semiconductor stock. The stock was sold at an average price of $7.43, for a total transaction of $17,379,082.06.
• On Thursday, June 5th, Ranbir Singh sold 16,377 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.43, for a total transaction of $105,304.11.
• On Wednesday, June 4th, Ranbir Singh sold 2,000,000 shares of Navitas Semiconductor stock. The stock was 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 transaction of $11,220.00.

Navitas Semiconductor Stock Down 1.0%

NASDAQ:NVTS traded down $0.08 during midday trading on Friday, hitting $7.74. The company had a trading volume of 26,512,014 shares, compared to its average volume of 10,713,901. The stock's fifty day moving average price is $3.27 and its 200-day moving average price is $3.09. Navitas Semiconductor Co. has a 52-week low of $1.52 and a 52-week high of $9.17. The company has a market capitalization of $1.48 billion, a PE ratio of -18.46 and a beta of 2.96.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $14.02 million for the quarter, compared to analyst estimates of $14.01 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The firm's quarterly revenue was down 39.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.06) EPS. As a group, research analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Rosenblatt Securities boosted their price target on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Morgan Stanley cut shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $2.10 to $1.50 in a research report on Monday, April 7th. Needham & Company LLC reduced their price target on shares of Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Robert W. Baird decreased 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $3.79.

Institutional Trading of Navitas Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Simplicity Wealth LLC purchased a new position in shares of Navitas Semiconductor in the first quarter worth $26,000. Larson Financial Group LLC purchased a new position in shares of Navitas Semiconductor in the first quarter valued at about $28,000. Benjamin Edwards Inc. bought a new position in shares of Navitas Semiconductor during the first quarter valued at about $31,000. Goodman Financial Corp purchased a new stake in shares of Navitas Semiconductor during the fourth quarter worth about $36,000. Finally, Caption Management LLC bought a new stake in shares of Navitas Semiconductor in the fourth quarter worth about $36,000. Institutional investors own 46.14% of the company's stock.

About Navitas Semiconductor

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.