Navitas Semiconductor (NASDAQ:NVTS) CFO Todd Glickman Sells 12,532 Shares

Navitas Semiconductor Corporation (NASDAQ:NVTS) CFO Todd Glickman sold 12,532 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $9.82, for a total value of $123,064.24. Following the completion of the sale, the chief financial officer directly owned 833,383 shares in the company, valued at $8,183,821.06. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Todd Glickman also recently made the following trade(s):

• On Monday, December 8th, Todd Glickman sold 78,307 shares of Navitas Semiconductor stock. The shares were sold at an average price of $9.77, for a total value of $765,059.39.

Navitas Semiconductor Price Performance

Shares of NVTS traded up $0.55 during trading hours on Monday, hitting $9.55. The company had a trading volume of 14,638,080 shares, compared to its average volume of 18,352,082. Navitas Semiconductor Corporation has a 52-week low of $1.52 and a 52-week high of $17.79. The firm has a fifty day moving average price of $8.95 and a 200-day moving average price of $8.70.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Tuesday, February 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 15.27%. The business had revenue of $7.30 million during the quarter, compared to analysts’ expectations of $6.95 million. During the same period in the previous year, the company earned ($0.06) earnings per share. The business’s revenue for the quarter was down 59.4% compared to the same quarter last year. Sell-side analysts predict that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVTS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Thursday, January 22nd. Needham & Company LLC increased their price target on Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Rosenblatt Securities reduced their price target on shares of Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Two investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.32.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NVTS. Nisa Investment Advisors LLC lifted its stake in Navitas Semiconductor by 121.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,614 shares of the company’s stock worth $76,000 after purchasing an additional 6,377 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in Navitas Semiconductor in the 2nd quarter worth about $421,000. Arkadios Wealth Advisors bought a new position in shares of Navitas Semiconductor in the second quarter worth about $74,000. Spire Wealth Management increased its stake in shares of Navitas Semiconductor by 1,480.0% during the second quarter. Spire Wealth Management now owns 15,800 shares of the company’s stock valued at $103,000 after buying an additional 14,800 shares during the period. Finally, Kovack Advisors Inc. bought a new stake in Navitas Semiconductor during the 2nd quarter valued at $102,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

About Navitas Semiconductor

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.