Insider Selling: Navitas Semiconductor (NASDAQ:NVTS) Director Sells $998,029.34 in Stock

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

Navitas Semiconductor Price Performance

NVTS stock opened at $26.60 on Monday. The firm has a market capitalization of $6.22 billion, a P/E ratio of -42.22 and a beta of 3.75. The business’s 50-day moving average is $15.81 and its two-hundred day moving average is $11.27. Navitas Semiconductor Corporation has a 1 year low of $4.95 and a 1 year high of $33.82.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (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 analyst estimates of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.Navitas Semiconductor’s revenue for the quarter was down 38.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) EPS. On average, analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Prospera Financial Services Inc increased its holdings in shares of Navitas Semiconductor by 3.8% in the 3rd quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock valued at $219,000 after acquiring an additional 1,120 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of Navitas Semiconductor by 2.8% in the 1st quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock valued at $370,000 after acquiring an additional 1,150 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Navitas Semiconductor by 12.6% in the 4th quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock valued at $96,000 after acquiring an additional 1,505 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Navitas Semiconductor by 3.8% in the 2nd quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock valued at $300,000 after acquiring an additional 1,667 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC increased its holdings in shares of Navitas Semiconductor by 16.8% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock valued at $86,000 after acquiring an additional 1,725 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Navitas Semiconductor

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.