Brian Long Sells 48,165 Shares of Navitas Semiconductor (NASDAQ:NVTS) Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Brian Long sold 48,165 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $8.50, for a total value of $409,402.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, December 2nd, Brian Long sold 22,034 shares of Navitas Semiconductor stock. The stock was sold at an average price of $8.51, for a total value of $187,509.34.
• On Monday, December 1st, Brian Long sold 142,150 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.55, for a total transaction of $1,215,382.50.
• On Wednesday, November 26th, Brian Long sold 1,493,046 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.54, for a total transaction of $12,750,612.84.
• On Monday, September 15th, Brian Long sold 500,000 shares of Navitas Semiconductor stock. The stock was sold at an average price of $6.11, for a total value of $3,055,000.00.
• On Thursday, September 11th, Brian Long sold 455,596 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.05, for a total value of $2,756,355.80.
• On Wednesday, September 10th, Brian Long sold 750,000 shares of Navitas Semiconductor stock. The stock was sold at an average price of $5.84, for a total value of $4,380,000.00.
• On Tuesday, September 9th, Brian Long sold 497,700 shares of Navitas Semiconductor stock. The shares were sold at an average price of $5.76, for a total transaction of $2,866,752.00.

Navitas Semiconductor Price Performance

NASDAQ:NVTS traded up $0.03 on Friday, reaching $9.48. The stock had a trading volume of 12,476,834 shares, compared to its average volume of 21,654,768. Navitas Semiconductor Corporation has a 12-month low of $1.52 and a 12-month high of $17.79. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -14.81 and a beta of 3.14. The firm’s fifty day moving average is $10.05 and its two-hundred day moving average is $7.74.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on NVTS. Jefferies Financial Group raised shares of Navitas Semiconductor to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Wednesday, October 8th. Needham & Company LLC boosted their price target on Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. CJS Securities downgraded Navitas Semiconductor from an “outperform” rating to a “market perform” rating in a report on Monday, August 18th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Navitas Semiconductor in a research note on Monday, November 10th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.48.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP raised its holdings 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 valued at $26,000 after buying an additional 2,698 shares during the period. Cantor Fitzgerald L. P. grew its position in Navitas Semiconductor by 62.0% in the third quarter. Cantor Fitzgerald L. P. now owns 90,150 shares of the company’s stock valued at $651,000 after acquiring an additional 34,504 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Navitas Semiconductor by 74.3% during the third quarter. CIBC Private Wealth Group LLC now owns 17,598 shares of the company’s stock valued at $127,000 after purchasing an additional 7,500 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of Navitas Semiconductor during the third quarter worth $103,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Navitas Semiconductor in the third quarter valued at $360,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.