Insider Selling: Navitas Semiconductor (NASDAQ:NVTS) CEO Sells 9,236 Shares of Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) CEO Chris Allexandre sold 9,236 shares of Navitas Semiconductor stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $8.93, for a total transaction of $82,477.48. Following the completion of the sale, the chief executive officer directly owned 813,323 shares of the company’s stock, valued at $7,262,974.39. The trade was a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Navitas Semiconductor Trading Down 2.8%

Shares of Navitas Semiconductor stock traded down $0.26 during trading hours on Thursday, reaching $8.96. 12,606,423 shares of the company’s stock were exchanged, compared to its average volume of 23,835,600. Navitas Semiconductor Corporation has a 52-week low of $1.52 and a 52-week high of $17.79. The company has a fifty day moving average of $9.04 and a 200-day moving average of $8.72. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -15.72 and a beta of 3.16.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Tuesday, February 24th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $7.30 million for the quarter, compared to the consensus estimate of $6.95 million. Navitas Semiconductor had a negative return on equity of 14.52% and a negative net margin of 254.71%.The firm’s revenue for the quarter was down 59.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) earnings per share. On average, equities research analysts anticipate that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Navitas Semiconductor

Large investors have recently modified their holdings of the stock. CWM LLC lifted its position in Navitas Semiconductor by 24.7% during the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after acquiring an additional 893 shares in the last quarter. Strategic Blueprint LLC raised its stake in shares of Navitas Semiconductor by 6.5% during the third quarter. Strategic Blueprint LLC now owns 15,426 shares of the company’s stock valued at $111,000 after purchasing an additional 937 shares during the period. Prospera Financial Services Inc lifted its position in shares of Navitas Semiconductor by 3.8% during the third quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock worth $219,000 after purchasing an additional 1,120 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Navitas Semiconductor by 12.6% in the fourth quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock valued at $96,000 after purchasing an additional 1,505 shares during the period. Finally, Captrust Financial Advisors grew its holdings in Navitas Semiconductor by 3.8% during the 2nd quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock valued at $300,000 after purchasing an additional 1,667 shares in the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NVTS. Rosenblatt Securities cut their price target on shares of Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $6.78.

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.