Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $214,871.80 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Brian Long sold 31,460 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $6.83, for a total value of $214,871.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Brian Long also recently made the following trade(s):

• On Wednesday, June 4th, Brian Long sold 2,955,509 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.61, for a total value of $19,535,914.49.
• On Friday, March 21st, Brian Long sold 47,189 shares of Navitas Semiconductor stock. The shares were sold at an average price of $2.36, for a total value of $111,366.04.

Navitas Semiconductor Trading Up 2.1%

Shares of NASDAQ NVTS opened at $6.18 on Friday. The stock has a fifty day simple moving average of $2.79 and a two-hundred day simple moving average of $2.94. Navitas Semiconductor Co. has a 1-year low of $1.52 and a 1-year high of $7.53. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -14.71 and a beta of 2.96.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on NVTS. Morgan Stanley lowered Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $2.10 to $1.50 in a report on Monday, April 7th. Needham & Company LLC reduced their target price on Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. 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. Finally, Rosenblatt Securities increased their price objective on Navitas Semiconductor from $4.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, Navitas Semiconductor has a consensus rating of “Moderate Buy” and an average target price of $3.79.

Hedge Funds Weigh In On Navitas Semiconductor

A number of large investors have recently made changes to their positions in NVTS. Simplicity Wealth LLC bought a new position in shares of Navitas Semiconductor in the first quarter worth $26,000. Larson Financial Group LLC bought a new position in shares of Navitas Semiconductor in the first quarter worth $28,000. Benjamin Edwards Inc. bought a new stake in Navitas Semiconductor during the first quarter valued at $31,000. Goodman Financial Corp bought a new stake in Navitas Semiconductor during the fourth quarter valued at $36,000. Finally, Caption Management LLC bought a new stake in Navitas Semiconductor during the fourth quarter valued at $36,000. 46.14% of the stock is owned by institutional investors.

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.