Navitas Semiconductor (NASDAQ:NVTS) Director Sells $19,071,745.76 in Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Ranbir Singh sold 664,058 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.72, for a total value of $19,071,745.76. Following the completion of the sale, the director directly owned 14,943,475 shares of the company’s stock, valued at $429,176,602. This trade represents a 4.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Ranbir Singh also recently made the following trade(s):

• On Wednesday, May 27th, Ranbir Singh sold 3,060,118 shares of Navitas Semiconductor stock. The stock was sold at an average price of $29.29, for a total value of $89,630,856.22.

Navitas Semiconductor Stock Down 6.7%

Shares of NVTS traded down $1.91 during midday trading on Friday, reaching $26.60. The company had a trading volume of 22,993,232 shares, compared to its average volume of 28,054,346. Navitas Semiconductor Corporation has a 1-year low of $4.95 and a 1-year high of $33.82. The stock has a market cap of $6.22 billion, a PE ratio of -42.22 and a beta of 3.62. The firm has a 50 day simple moving average of $15.46 and a 200-day simple moving average of $11.15.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The business had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. During the same period last year, the company earned ($0.06) EPS. The company’s revenue for the quarter was down 38.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVTS. Needham & Company LLC raised their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley reaffirmed an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Rosenblatt Securities raised their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Robert W. Baird raised their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.87.

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors have recently bought and sold shares of the company. Prospera Financial Services Inc boosted its stake 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 buying an additional 1,120 shares during the period. Kestra Advisory Services LLC boosted its stake 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 buying an additional 1,150 shares during the period. Russell Investments Group Ltd. boosted its stake 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 buying an additional 1,505 shares during the period. Captrust Financial Advisors boosted its stake 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 buying an additional 1,667 shares during the period. Finally, Wealthcare Advisory Partners LLC boosted its stake 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 buying an additional 1,725 shares during the period. 46.14% of the stock is owned by institutional investors and hedge funds.

Navitas Semiconductor Company Profile

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.