Navitas Semiconductor Co. (NASDAQ:NVTS) Director Ranbir Singh Sells 21,782 Shares of Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Ranbir Singh sold 21,782 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $8.53, for a total transaction of $185,800.46. Following the sale, the director now directly owns 19,214,053 shares of the company’s stock, valued at $163,895,872.09. This represents a 0.11% decrease in their position. The transaction was disclosed in a document filed 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 transaction 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 transaction 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 transaction 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 shares were sold at an average price of $2.55, for a total value of $11,220.00.

Navitas Semiconductor Trading Down 1.9%

Shares of NASDAQ:NVTS opened at $7.81 on Friday. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -18.59 and a beta of 2.96. Navitas Semiconductor Co. has a 12 month low of $1.52 and a 12 month high of $9.17. The company has a 50-day moving average price of $3.27 and a 200 day moving average price of $3.09.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The company had revenue of $14.02 million for the quarter, compared to the consensus estimate of $14.01 million. During the same period in the prior year, the firm posted ($0.06) EPS. The firm’s revenue was down 39.7% compared to the same quarter last year. As a group, equities analysts forecast that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NVTS. Morgan Stanley lowered shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $2.10 to $1.50 in a research report on Monday, April 7th. Rosenblatt Securities lifted their price target 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. 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 report on Tuesday, May 6th. Finally, Robert W. Baird dropped their target price on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Navitas Semiconductor has a consensus rating of “Moderate Buy” and a consensus price target of $3.79.

Hedge Funds Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Navitas Semiconductor by 1.3% during the first quarter. Vanguard Group Inc. now owns 9,997,486 shares of the company’s stock valued at $20,495,000 after buying an additional 123,598 shares during the last quarter. Geode Capital Management LLC boosted its stake in Navitas Semiconductor by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 3,081,916 shares of the company’s stock worth $11,005,000 after purchasing an additional 113,277 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Navitas Semiconductor by 22.2% in the first quarter. Invesco Ltd. now owns 1,829,803 shares of the company’s stock worth $3,751,000 after buying an additional 331,832 shares in the last quarter. Bank of America Corp DE raised its holdings in Navitas Semiconductor by 180.5% in the 4th quarter. Bank of America Corp DE now owns 1,234,375 shares of the company’s stock valued at $4,407,000 after acquiring an additional 794,371 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Navitas Semiconductor by 9.5% during the fourth quarter. Northern Trust Corp now owns 1,209,761 shares of the company’s stock worth $4,319,000 after buying an additional 104,906 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors.

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.