Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $185,800.46 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director Ranbir Singh sold 21,782 shares of the business's stock in a transaction that occurred on 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 directly owns 19,214,053 shares in the company, valued at $163,895,872.09. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 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 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 stock was 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 transaction of $11,220.00.

Navitas Semiconductor Stock Performance

NASDAQ NVTS traded down $0.49 on Friday, reaching $7.32. The company had a trading volume of 40,418,954 shares, compared to its average volume of 10,834,390. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -17.43 and a beta of 2.96. Navitas Semiconductor Co. has a 1-year low of $1.52 and a 1-year high of $9.17. The company's fifty day moving average is $3.38 and its 200-day moving average is $3.13.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $14.01 million. During the same period in the prior year, the business earned ($0.06) EPS. The company's revenue for the quarter was down 39.7% compared to the same quarter last year. On average, research analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NVTS. Rosenblatt Securities boosted their price objective on shares of 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 dropped their target price 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. Robert W. Baird dropped their target price 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, Morgan Stanley cut shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $2.10 to $1.50 in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $3.79.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds have recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in Navitas Semiconductor by 52.7% in the 4th quarter. American Century Companies Inc. now owns 15,704 shares of the company's stock valued at $56,000 after purchasing an additional 5,419 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Navitas Semiconductor by 125.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company's stock valued at $37,000 after acquiring an additional 5,726 shares during the period. 180 Wealth Advisors LLC raised its holdings in Navitas Semiconductor by 7.6% in the 1st quarter. 180 Wealth Advisors LLC now owns 97,602 shares of the company's stock valued at $200,000 after acquiring an additional 6,920 shares during the period. Goodman Financial Corp bought a new position in Navitas Semiconductor in the 4th quarter valued at about $36,000. Finally, Caption Management LLC bought a new position in Navitas Semiconductor in the 4th quarter valued at about $36,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

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.