Ranbir Singh Sells 21,782 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) Stock

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director Ranbir Singh sold 21,782 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $8.53, for a total value of $185,800.46. Following the completion of the transaction, the director now owns 19,214,053 shares of the company's stock, valued at approximately $163,895,872.09. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 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 value of $105,304.11.
• On Wednesday, June 4th, Ranbir Singh sold 2,000,000 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.76, for a total transaction of $13,520,000.00.
• On Tuesday, March 18th, Ranbir Singh sold 4,400 shares of Navitas Semiconductor stock. The stock was sold at an average price of $2.55, for a total value of $11,220.00.

Navitas Semiconductor Trading Down 1.1%

NVTS stock traded down $0.09 during trading on Friday, reaching $7.72. 26,512,014 shares of the stock were exchanged, compared to its average volume of 10,714,175. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -18.46 and a beta of 2.96. The business has a 50 day moving average price of $3.27 and a 200-day moving average price of $3.09. Navitas Semiconductor Co. has a 1 year low of $1.52 and a 1 year high of $9.17.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The firm had revenue of $14.02 million for the quarter, compared to analyst estimates 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. On average, research analysts anticipate that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on NVTS. Needham & Company LLC decreased their price objective on Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Morgan Stanley cut shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $2.10 to $1.50 in a research note on Monday, April 7th. Rosenblatt Securities upped their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Robert W. Baird reduced their price objective on Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat, Navitas Semiconductor has an average rating of "Moderate Buy" and a consensus price target of $3.79.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVTS. SCS Capital Management LLC acquired a new position in shares of Navitas Semiconductor in the 1st quarter valued at $567,000. Hsbc Holdings PLC increased its position in shares of Navitas Semiconductor by 980.4% during the 1st quarter. Hsbc Holdings PLC now owns 158,566 shares of the company's stock worth $323,000 after purchasing an additional 143,890 shares during the last quarter. American Century Companies Inc. raised its holdings in Navitas Semiconductor by 650.6% in the 1st quarter. American Century Companies Inc. now owns 117,873 shares of the company's stock valued at $242,000 after buying an additional 102,169 shares during the period. Nuveen LLC acquired a new position in Navitas Semiconductor in the first quarter valued at about $675,000. Finally, Invesco Ltd. increased its position in shares of Navitas Semiconductor by 22.2% during the first quarter. Invesco Ltd. now owns 1,829,803 shares of the company's stock valued at $3,751,000 after acquiring an additional 331,832 shares during the last quarter. Institutional investors and hedge funds 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.