Ranbir Singh Sells 179,354 Shares of Navitas Semiconductor (NASDAQ:NVTS) Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Ranbir Singh sold 179,354 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $8.68, for a total value of $1,556,792.72. Following the sale, the director owned 389,096 shares of the company’s stock, valued at $3,377,353.28. This trade represents a 31.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Navitas Semiconductor Stock Down 1.6%

Shares of NASDAQ NVTS traded down $0.13 during mid-day trading on Tuesday, hitting $7.83. 10,696,141 shares of the company were exchanged, compared to its average volume of 26,074,301. The stock has a 50 day simple moving average of $10.20 and a 200-day simple moving average of $7.97. Navitas Semiconductor Corporation has a 1-year low of $1.52 and a 1-year high of $17.79. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -12.23 and a beta of 3.14.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $10.11 million during the quarter, compared to the consensus estimate of $10.00 million. Navitas Semiconductor had a negative net margin of 220.85% and a negative return on equity of 14.86%. Navitas Semiconductor’s quarterly revenue was down 53.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) EPS. Analysts anticipate that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NVTS has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Navitas Semiconductor in a report on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. CJS Securities lowered Navitas Semiconductor from an “outperform” rating to a “market perform” rating in a report on Monday, August 18th. Needham & Company LLC increased their price objective on Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, Jefferies Financial Group raised Navitas Semiconductor to a “hold” rating in a report on Tuesday, October 28th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor presently has a consensus rating of “Hold” and a consensus price target of $6.48.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP boosted its position in shares of Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after buying an additional 2,698 shares in the last quarter. Cranbrook Wealth Management LLC acquired a new position in Navitas Semiconductor during the second quarter worth about $25,000. NewEdge Advisors LLC raised its position in Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after acquiring an additional 2,942 shares during the last quarter. CWM LLC lifted its holdings in shares of Navitas Semiconductor by 24.7% in the third quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after purchasing an additional 893 shares in the last quarter. Finally, ST Germain D J Co. Inc. purchased a new stake in shares of Navitas Semiconductor in the second quarter valued at about $33,000. Institutional investors and hedge funds 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.