Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $23,855.40 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Gary Kent Wunderlich, Jr. sold 5,220 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $4.57, for a total transaction of $23,855.40. Following the sale, the director now directly owns 395,224 shares in the company, valued at $1,806,173.68. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Navitas Semiconductor Stock Performance

NVTS stock opened at $5.39 on Friday. The firm has a fifty day moving average price of $2.32 and a 200 day moving average price of $2.77. Navitas Semiconductor Co. has a fifty-two week low of $1.52 and a fifty-two week high of $7.53. The firm has a market cap of $1.03 billion, a PE ratio of -12.83 and a beta of 2.24.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, May 5th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $14.01 million. During the same quarter in the previous year, the business earned ($0.06) EPS. The company’s quarterly revenue was down 39.7% on a year-over-year basis. On average, equities analysts predict that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVTS. Rosenblatt Securities upped their target price on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. 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 note on Wednesday, March 5th. Morgan Stanley lowered shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $2.10 to $1.50 in a report on Monday, April 7th. Finally, Needham & Company LLC decreased their target price on 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 investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3.79.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently bought and sold shares of the business. SCS Capital Management LLC bought a new position in Navitas Semiconductor in the first quarter worth approximately $567,000. Hsbc Holdings PLC increased its position in Navitas Semiconductor by 980.4% during the 1st quarter. Hsbc Holdings PLC now owns 158,566 shares of the company’s stock valued at $323,000 after purchasing an additional 143,890 shares during the period. American Century Companies Inc. lifted its position in shares of Navitas Semiconductor by 650.6% in the 1st quarter. American Century Companies Inc. now owns 117,873 shares of the company’s stock worth $242,000 after purchasing an additional 102,169 shares during the period. Nuveen LLC bought a new position in shares of Navitas Semiconductor during the first quarter valued at approximately $675,000. Finally, Invesco Ltd. increased its holdings in 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 buying an additional 331,832 shares during the period. Institutional investors own 46.14% of the company’s stock.

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.