Navitas Semiconductor (NASDAQ:NVTS) CFO Todd Glickman Sells 78,307 Shares

Navitas Semiconductor Corporation (NASDAQ:NVTS) CFO Todd Glickman sold 78,307 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $9.77, for a total transaction of $765,059.39. Following the completion of the sale, the chief financial officer directly owned 813,279 shares in the company, valued at $7,945,735.83. This trade represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, November 21st, Todd Glickman sold 345 shares of Navitas Semiconductor stock. The shares were sold at an average price of $7.41, for a total transaction of $2,556.45.
• On Wednesday, November 5th, Todd Glickman sold 96,313 shares of Navitas Semiconductor stock. The shares were sold at an average price of $10.56, for a total value of $1,017,065.28.

Navitas Semiconductor Stock Performance

Shares of NVTS traded up $0.12 during midday trading on Monday, hitting $9.60. 24,877,323 shares of the stock were exchanged, compared to its average volume of 26,346,137. Navitas Semiconductor Corporation has a 52-week low of $1.52 and a 52-week high of $17.79. The stock has a fifty day simple moving average of $10.05 and a 200 day simple moving average of $7.82. The firm has a market cap of $2.21 billion, a P/E ratio of -15.00 and a beta of 3.14.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.The firm had revenue of $10.11 million for the quarter, compared to the consensus estimate of $10.00 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The company’s quarterly revenue was down 53.4% compared to the same quarter last year. As a group, equities research analysts forecast that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Navitas Semiconductor

A number of large investors have recently modified their holdings of the company. Allworth Financial LP lifted its position in shares of 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 purchasing an additional 2,698 shares during the last quarter. Cranbrook Wealth Management LLC acquired a new stake in Navitas Semiconductor in the second quarter valued at $25,000. NewEdge Advisors LLC lifted its holdings 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 buying an additional 2,942 shares during the last quarter. CWM LLC boosted its position in shares of Navitas Semiconductor by 24.7% during the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after acquiring an additional 893 shares in the last quarter. Finally, ST Germain D J Co. Inc. purchased a new position in shares of Navitas Semiconductor in the 2nd quarter valued at about $33,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVTS has been the topic of several research reports. Jefferies Financial Group raised shares of Navitas Semiconductor to a “hold” rating in a research report on Tuesday, October 28th. Rosenblatt Securities reiterated a “neutral” rating and set a $8.00 target price on shares of Navitas Semiconductor in a report on Monday, November 10th. CJS Securities cut shares of Navitas Semiconductor from an “outperform” rating to a “market perform” rating in a research report on Monday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Wednesday, October 8th. Finally, Needham & Company LLC increased their price objective on Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. 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’s stock. Based on data from MarketBeat.com, Navitas Semiconductor presently has an average rating of “Hold” and an average target price of $6.48.

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.