Navitas Semiconductor Co. (NASDAQ:NVTS) CFO Sells $800,000.00 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) CFO Todd Glickman sold 100,000 shares of Navitas Semiconductor stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $8.00, for a total transaction of $800,000.00. Following the completion of the sale, the chief financial officer now owns 134,501 shares in the company, valued at approximately $1,076,008. This trade represents a 42.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Todd Glickman also recently made the following trade(s):

• On Thursday, May 22nd, Todd Glickman sold 532,342 shares of Navitas Semiconductor stock. The stock was sold at an average price of $4.49, for a total value of $2,390,215.58.

Navitas Semiconductor Trading Down 6.3%

NVTS stock opened at $7.32 on Monday. The stock has a market capitalization of $1.40 billion, a PE ratio of -17.43 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 stock’s 50 day simple moving average is $3.38 and its 200 day simple moving average is $3.13.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Monday, May 5th. The company reported ($0.06) earnings per share (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 business had revenue of $14.02 million for the quarter, compared to analysts’ expectations of $14.01 million. During the same quarter in the prior year, the business earned ($0.06) EPS. The business’s revenue for the quarter was down 39.7% compared to the same quarter last year. On average, research analysts predict that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in shares of Navitas Semiconductor by 180.5% during 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 purchasing an additional 794,371 shares during the period. Invesco Ltd. lifted its stake in shares of Navitas Semiconductor by 22.2% during the 1st 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 in the last quarter. Nuveen LLC bought a new position in Navitas Semiconductor in the 1st quarter worth $675,000. Susquehanna Fundamental Investments LLC purchased a new stake in Navitas Semiconductor in the 4th quarter worth $1,170,000. Finally, SCS Capital Management LLC purchased a new position in shares of Navitas Semiconductor in the first quarter valued at about $567,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Analyst Upgrades and Downgrades

NVTS has been the topic of a number of recent research reports. Morgan Stanley downgraded shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $2.10 to $1.50 in a research report on Monday, April 7th. Rosenblatt Securities raised their target price on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, May 22nd. 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 report on Wednesday, March 5th. Finally, Needham & Company LLC lowered their price objective on 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 issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3.79.

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.