Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Purchases $163,894,850.37 in Stock

Key Points

• Ranbir Singh, a director at Navitas Semiconductor, purchased 18,645,603 shares of the company's stock for approximately $163.89 million, representing a significant increase in his holdings.
• The current stock price of Navitas Semiconductor (NVTS)** has fluctuated significantly between a low of $1.52 and a high of $9.48 over the past year, with a recent trading price around $7.21.
• Navitas Semiconductor reported a negative net margin of 131.83% and a revenue decline of 39.7% year-over-year, raising concerns among analysts about the company's financial performance.

Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) Director Ranbir Singh purchased 18,645,603 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was bought at an average price of $8.79 per share, with a total value of $163,894,850.37. Following the completion of the transaction, the director owned 18,645,603 shares of the company's stock, valued at $163,894,850.37. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 Tuesday, June 10th, Ranbir Singh sold 815,165 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.31, for a total value of $6,774,021.15.
• On Monday, June 9th, Ranbir Singh sold 2,339,042 shares of Navitas Semiconductor stock. The shares were sold at an average price of $7.43, for a total value of $17,379,082.06.
• 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 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.

Navitas Semiconductor Stock Performance

Shares of NVTS traded up $0.63 during trading hours on Friday, hitting $7.96. The stock had a trading volume of 32,353,672 shares, compared to its average volume of 21,987,908. The firm has a 50-day moving average price of $6.85 and a 200 day moving average price of $3.97. Navitas Semiconductor Corporation has a fifty-two week low of $1.52 and a fifty-two week high of $9.48. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -15.31 and a beta of 3.01.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 131.83% and a negative return on equity of 22.62%. The firm had revenue of $14.02 million during the quarter, compared to analysts' expectations of $14.01 million. During the same period in the previous year, the business posted ($0.06) EPS. The business's revenue was down 39.7% compared to the same quarter last year. As a group, analysts predict that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors have recently added to or reduced their stakes in the stock. Cranbrook Wealth Management LLC acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at $25,000. ST Germain D J Co. Inc. acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at $33,000. Caption Management LLC acquired a new stake in Navitas Semiconductor in the 4th quarter valued at $36,000. HighMark Wealth Management LLC acquired a new position in Navitas Semiconductor in the 2nd quarter valued at $66,000. Finally, West Tower Group LLC acquired a new position in Navitas Semiconductor in the 2nd quarter valued at $66,000. Institutional investors and hedge funds own 46.14% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVTS. Rosenblatt Securities upped 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. Needham & Company LLC lowered their price objective on shares of Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Morgan Stanley downgraded shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $2.10 to $1.50 in a research note on Monday, April 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Navitas Semiconductor from a "buy" rating to a "hold" rating and set a $3.50 price objective for the company. in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $3.71.

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.