Navitas Semiconductor Co. (NASDAQ:NVTS) Director Richard J. Hendrix Sells 229,455 Shares

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) Director Richard J. Hendrix sold 229,455 shares of Navitas Semiconductor stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $4.48, for a total value of $1,027,958.40. Following the completion of the transaction, the director now owns 94,739 shares in the company, valued at $424,430.72. This trade represents a 70.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Navitas Semiconductor Stock Performance

NASDAQ NVTS traded down $0.30 during trading hours on Friday, reaching $5.09. The stock had a trading volume of 44,855,791 shares, compared to its average volume of 7,660,489. The stock has a fifty day moving average of $2.38 and a 200 day moving average of $2.80. The stock has a market cap of $976.30 million, a P/E ratio of -12.12 and a beta of 2.24. Navitas Semiconductor Co. has a 52-week low of $1.52 and a 52-week high of $7.53.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.06) EPS for the quarter, meeting analysts' consensus estimates of ($0.06). The firm had revenue of $14.02 million for the quarter, compared to analyst estimates of $14.01 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. Navitas Semiconductor's revenue for the quarter was down 39.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. On average, equities research analysts forecast that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Goodman Financial Corp acquired a new position in Navitas Semiconductor in the fourth quarter valued at approximately $36,000. Caption Management LLC acquired a new position in Navitas Semiconductor in the fourth quarter valued at approximately $36,000. Tower Research Capital LLC TRC lifted its holdings in Navitas Semiconductor by 125.4% in the fourth 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. Steel Grove Capital Advisors LLC acquired a new position in Navitas Semiconductor in the fourth quarter valued at approximately $39,000. Finally, Cibc World Markets Corp acquired a new position in Navitas Semiconductor in the fourth quarter valued at approximately $42,000. 46.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.