Insider Buying: Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Buys 18,645,603 Shares of 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 bought 18,645,603 shares of the firm's 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 transaction, the director directly owned 18,645,603 shares in the company, valued at $163,894,850.37. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 stock was 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 stock was 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 stock was 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 shares were sold at an average price of $6.43, for a total value 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 Price Performance

NASDAQ NVTS traded up $0.63 on Friday, hitting $7.96. 32,353,672 shares of the company were exchanged, compared to its average volume of 27,545,796. Navitas Semiconductor Corporation has a twelve month low of $1.52 and a twelve month high of $9.48. The firm has a market capitalization of $1.53 billion, a P/E ratio of -15.31 and a beta of 3.02. The company's 50 day moving average price is $6.85 and its 200-day moving average price is $3.97.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.06). The business 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 131.83% and a negative return on equity of 22.62%. The firm's revenue was down 39.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) earnings per share. As a group, equities analysts expect that Navitas Semiconductor Corporation will post -0.51 EPS for the current year.

Institutional Trading of Navitas Semiconductor

A number of hedge funds have recently modified their holdings of NVTS. Cranbrook Wealth Management LLC purchased a new position in shares of Navitas Semiconductor during the 2nd quarter valued at $25,000. ST Germain D J Co. Inc. acquired a new stake in Navitas Semiconductor during the second quarter valued at $33,000. Caption Management LLC purchased a new position in Navitas Semiconductor in the fourth quarter valued at about $36,000. HighMark Wealth Management LLC acquired a new position in Navitas Semiconductor in the 2nd quarter worth about $66,000. Finally, West Tower Group LLC acquired a new position in Navitas Semiconductor in the 2nd quarter worth about $66,000. Hedge funds and other institutional investors own 46.14% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reduced 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 report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft lowered shares of Navitas Semiconductor from a "buy" rating to a "hold" rating and set a $3.50 target price for the company. in a research note on Tuesday, June 17th. Morgan Stanley cut shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $2.10 to $1.50 in a report on Monday, April 7th. Finally, Rosenblatt Securities upped their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.