Navitas Semiconductor (NASDAQ:NVTS) Director Richard Hendrix Sells 33,649 Shares

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Richard Hendrix sold 33,649 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total transaction of $998,029.34. Following the sale, the director owned 33,855 shares in the company, valued at $1,004,139.30. The trade was a 49.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Navitas Semiconductor Trading Down 6.7%

Shares of NVTS stock opened at $26.60 on Friday. The stock has a market capitalization of $6.22 billion, a P/E ratio of -42.22 and a beta of 3.62. The firm’s 50 day moving average is $15.81 and its 200 day moving average is $11.26. Navitas Semiconductor Corporation has a 12 month low of $4.95 and a 12 month high of $33.82.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. Navitas Semiconductor’s revenue was down 38.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) EPS. On average, equities analysts predict that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Institutional Trading of Navitas Semiconductor

Institutional investors and hedge funds have recently made changes to their positions in the stock. DNB Asset Management AS purchased a new stake in shares of Navitas Semiconductor during the 4th quarter valued at $774,000. UBS Group AG grew its holdings in shares of Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after purchasing an additional 1,875,228 shares during the last quarter. Diversify Advisory Services LLC bought a new position in shares of Navitas Semiconductor during the 3rd quarter valued at $960,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Navitas Semiconductor by 1,425.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company’s stock valued at $949,000 after purchasing an additional 124,164 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Navitas Semiconductor during the 4th quarter valued at $484,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on NVTS. Robert W. Baird increased their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Rosenblatt Securities increased their target price on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Needham & Company LLC increased their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor currently has an average rating of “Hold” and a consensus price target of $12.87.

Navitas Semiconductor Company Profile

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.