Navitas Semiconductor Co. (NASDAQ:NVTS) Major Shareholder Sicpower, Llc Sells 8,500 Shares

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) major shareholder Sicpower, Llc sold 8,500 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $6.53, for a total value of $55,505.00. Following the transaction, the insider now directly owns 24,874,661 shares of the company's stock, valued at $162,431,536.33. This trade represents a 0.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Sicpower, Llc also recently made the following trade(s):

• On Thursday, May 29th, Sicpower, Llc sold 484,619 shares of Navitas Semiconductor stock. The stock was sold at an average price of $6.72, for a total value of $3,256,639.68.

Navitas Semiconductor Price Performance

Navitas Semiconductor stock traded up $0.42 during mid-day trading on Tuesday, hitting $5.94. 92,856,260 shares of the company's stock traded hands, compared to its average volume of 8,222,039. The firm has a 50 day simple moving average of $2.53 and a two-hundred day simple moving average of $2.85. Navitas Semiconductor Co. has a fifty-two week low of $1.52 and a fifty-two week high of $7.53. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -14.14 and a beta of 2.24.

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

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in Navitas Semiconductor by 81.7% during the 4th quarter. SG Americas Securities LLC now owns 98,601 shares of the company's stock worth $352,000 after purchasing an additional 44,340 shares during the last quarter. Compass Capital Corp MA ADV bought a new stake in shares of Navitas Semiconductor in the fourth quarter valued at about $553,000. Edge Capital Group LLC bought a new stake in shares of Navitas Semiconductor in the fourth quarter valued at about $987,000. Bank of New York Mellon Corp grew its stake in shares of Navitas Semiconductor by 27.6% in the fourth quarter. Bank of New York Mellon Corp now owns 498,713 shares of the company's stock valued at $1,780,000 after acquiring an additional 107,828 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Navitas Semiconductor during the fourth quarter worth about $66,000. Institutional investors own 46.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Robert W. Baird decreased 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 note on Wednesday, March 5th. Rosenblatt Securities lifted their price objective on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley downgraded shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $2.10 to $1.50 in a research note on Monday, April 7th. Finally, Needham & Company LLC reduced their price target on Navitas Semiconductor from $4.00 to $3.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.