Navitas Semiconductor (NASDAQ:NVTS) CEO Sells $82,477.48 in Stock

Key Points

• CEO Chris Allexandre sold 9,236 shares on March 3 at an average price of $8.93 for $82,477.48, trimming his stake by 1.12% to 813,323 shares valued at about $7.26 million.
• The company reported quarterly EPS of ($0.05) in line with estimates but revenue plunged 59.4% year‑over‑year to $7.30 million, leaving Navitas with a deeply negative net margin (254.71%) and negative return on equity.
• NVTS traded near $8.96 (down ~2.8%), has a $2.07 billion market cap, and carries a consensus analyst rating of Reduce with a $6.78 price target.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) CEO Chris Allexandre sold 9,236 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the completion of the sale, the chief executive officer directly owned 813,323 shares of the company's stock, valued at $7,262,974.39. This represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Navitas Semiconductor Stock Down 2.8%

NVTS stock traded down $0.26 on Thursday, reaching $8.96. 12,606,423 shares of the company's stock were exchanged, compared to its average volume of 23,835,600. The firm has a market cap of $2.07 billion, a PE ratio of -15.72 and a beta of 3.16. Navitas Semiconductor Corporation has a twelve month low of $1.52 and a twelve month high of $17.79. The stock has a fifty day moving average of $9.04 and a 200-day moving average of $8.72.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.05). The business had revenue of $7.30 million during the quarter, compared to the consensus estimate of $6.95 million. Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 14.52%. The business's revenue was down 59.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) EPS. On average, equities research analysts predict that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NVTS shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Navitas Semiconductor in a research note on Thursday, January 22nd. Rosenblatt Securities dropped their price target on Navitas Semiconductor from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $6.78.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors have recently made changes to their positions in NVTS. Nisa Investment Advisors LLC boosted its stake in shares of Navitas Semiconductor by 121.8% during the second quarter. Nisa Investment Advisors LLC now owns 11,614 shares of the company's stock valued at $76,000 after acquiring an additional 6,377 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Navitas Semiconductor in the 2nd quarter valued at about $421,000. Arkadios Wealth Advisors purchased a new position in Navitas Semiconductor in the 2nd quarter valued at about $74,000. Spire Wealth Management boosted its stake in shares of Navitas Semiconductor by 1,480.0% during the 2nd quarter. Spire Wealth Management now owns 15,800 shares of the company's stock worth $103,000 after purchasing an additional 14,800 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Navitas Semiconductor during the second quarter worth about $461,000. 46.14% of the stock is owned by institutional investors and hedge funds.

Navitas Semiconductor Company Profile

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.