Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $11,220.00 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Ranbir Singh sold 4,400 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $2.55, for a total value of $11,220.00. Following the sale, the director now directly owns 193,511 shares of the company’s stock, valued at approximately $493,453.05. This represents a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Navitas Semiconductor Price Performance

Shares of Navitas Semiconductor stock opened at $1.88 on Friday. The firm has a fifty day moving average price of $2.04 and a two-hundred day moving average price of $2.67. Navitas Semiconductor Co. has a fifty-two week low of $1.52 and a fifty-two week high of $5.14. The company has a market cap of $358.20 million, a PE ratio of -4.48 and a beta of 2.24.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $14.02 million for the quarter, compared to analysts’ expectations of $14.01 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. Navitas Semiconductor’s quarterly revenue was down 39.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.06) earnings per share. Analysts expect that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Institutional Trading of Navitas Semiconductor

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Navitas Semiconductor by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 9,997,486 shares of the company’s stock valued at $20,495,000 after purchasing an additional 123,598 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Navitas Semiconductor in the first quarter valued at $410,000. Larson Financial Group LLC bought a new position in shares of Navitas Semiconductor in the first quarter valued at about $28,000. Teacher Retirement System of Texas bought a new position in shares of Navitas Semiconductor in the first quarter valued at about $36,000. Finally, Castleview Partners LLC acquired a new position in Navitas Semiconductor during the 1st quarter worth about $52,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Robert W. Baird reduced their target price on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Needham & Company LLC reduced their price objective on Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday. Morgan Stanley cut Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $2.10 to $1.50 in a research note on Monday, April 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $4.00 price target on shares of Navitas Semiconductor in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Navitas Semiconductor has a consensus rating of “Moderate Buy” and a consensus price target of $3.54.

About Navitas Semiconductor

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.