Navitas Semiconductor Co. (NASDAQ:NVTS) Director Gary Kent Wunderlich, Jr. Sells 45,219 Shares of Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Gary Kent Wunderlich, Jr. sold 45,219 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $8.11, for a total value of $366,726.09. Following the sale, the director now owns 243,216 shares of the company’s stock, valued at approximately $1,972,481.76. The trade was a 15.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Navitas Semiconductor Trading Down 1.9%

NVTS stock opened at $7.81 on Friday. The company has a market capitalization of $1.50 billion, a P/E ratio of -18.59 and a beta of 2.96. The business has a 50 day simple moving average of $3.27 and a 200-day simple moving average of $3.09. Navitas Semiconductor Co. has a twelve month low of $1.52 and a twelve month high of $9.17.

Navitas Semiconductor (NASDAQ:NVTS) 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). The firm 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 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) EPS. Research analysts predict that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Simplicity Wealth LLC acquired a new stake in shares of Navitas Semiconductor during the first quarter worth about $26,000. Larson Financial Group LLC acquired a new position in Navitas Semiconductor in the 1st quarter valued at about $28,000. Benjamin Edwards Inc. purchased a new stake in Navitas Semiconductor during the 1st quarter valued at approximately $31,000. Goodman Financial Corp acquired a new stake in Navitas Semiconductor during the 4th quarter worth approximately $36,000. Finally, Caption Management LLC acquired a new stake in Navitas Semiconductor during the 4th quarter worth approximately $36,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NVTS shares. Rosenblatt Securities raised their price objective on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley lowered shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $2.10 to $1.50 in a research note on Monday, April 7th. Finally, Needham & Company LLC decreased their price objective on shares of Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Navitas Semiconductor currently 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.