Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $13,520,000.00 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director Ranbir Singh sold 2,000,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $6.76, for a total transaction of $13,520,000.00. Following the transaction, the director now owns 22,390,042 shares in the company, valued at $151,356,683.92. The trade was a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 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 Price Performance

Shares of NASDAQ NVTS traded up $0.13 during midday trading on Friday, reaching $6.18. 43,659,438 shares of the company traded hands, compared to its average volume of 9,067,860. Navitas Semiconductor Co. has a 52 week low of $1.52 and a 52 week high of $7.53. The stock has a 50-day moving average price of $2.79 and a 200 day moving average price of $2.95. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -14.71 and a beta of 2.96.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Rosenblatt Securities lifted their price target on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Morgan Stanley downgraded shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $2.10 to $1.50 in a research report on Monday, April 7th. Robert W. Baird reduced their price objective on shares of Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Finally, 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. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $3.79.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors have recently added to or reduced their stakes in the company. Simplicity Wealth LLC bought a new position in Navitas Semiconductor during the first quarter worth about $26,000. Larson Financial Group LLC bought a new position in shares of Navitas Semiconductor in the first quarter valued at approximately $28,000. Benjamin Edwards Inc. acquired a new position in shares of Navitas Semiconductor in the 1st quarter worth approximately $31,000. Goodman Financial Corp acquired a new position in shares of Navitas Semiconductor in the 4th quarter worth approximately $36,000. Finally, Caption Management LLC acquired a new position in shares of Navitas Semiconductor in the 4th quarter worth approximately $36,000. 46.14% of the stock is owned by institutional investors and hedge funds.

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.