Navitas Semiconductor (NASDAQ:NVTS) Director Sells $19,071,745.76 in Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Ranbir Singh sold 664,058 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.72, for a total value of $19,071,745.76. Following the transaction, the director owned 14,943,475 shares in the company, valued at $429,176,602. This trade represents a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ranbir Singh also recently made the following trade(s):

• On Wednesday, May 27th, Ranbir Singh sold 3,060,118 shares of Navitas Semiconductor stock. The stock was sold at an average price of $29.29, for a total value of $89,630,856.22.

Navitas Semiconductor Stock Performance

NASDAQ NVTS opened at $26.60 on Monday. The business’s 50-day moving average price is $15.81 and its 200 day moving average price is $11.27. Navitas Semiconductor Corporation has a twelve month low of $4.95 and a twelve month high of $33.82. The company has a market capitalization of $6.22 billion, a PE ratio of -42.22 and a beta of 3.75.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on NVTS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Robert W. Baird lifted their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Needham & Company LLC lifted their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Hold” and a consensus target price of $12.87.

Hedge Funds Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP lifted its position in Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after acquiring an additional 2,698 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after acquiring an additional 4,000 shares in the last quarter. NewEdge Advisors LLC lifted its position in Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after acquiring an additional 2,942 shares in the last quarter. GAMMA Investing LLC lifted its position in Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after acquiring an additional 2,548 shares in the last quarter. Finally, State of Wyoming lifted its position in Navitas Semiconductor by 92.8% during the 1st quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after acquiring an additional 2,312 shares in the last quarter. 46.14% of the stock is owned by institutional investors and hedge funds.

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.