Chris Allexandre Sells 9,236 Shares of Navitas Semiconductor (NASDAQ:NVTS) Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) CEO Chris Allexandre sold 9,236 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the transaction, the chief executive officer directly owned 813,323 shares of the company’s stock, valued at approximately $7,262,974.39. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Navitas Semiconductor Trading Down 8.5%

Navitas Semiconductor stock opened at $8.20 on Friday. The business’s fifty day simple moving average is $9.05 and its two-hundred day simple moving average is $8.73. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -14.39 and a beta of 3.16. Navitas Semiconductor Corporation has a 12 month low of $1.52 and a 12 month high of $17.79.

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Thursday, January 22nd. Rosenblatt Securities decreased their price objective on Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $6.78.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NVTS. Virtu Financial LLC lifted its holdings in Navitas Semiconductor by 156.2% during the fourth quarter. Virtu Financial LLC now owns 128,615 shares of the company’s stock worth $918,000 after buying an additional 78,409 shares during the period. Invesco Ltd. increased its position in shares of Navitas Semiconductor by 257.8% during the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after purchasing an additional 3,413,394 shares in the last quarter. NewEdge Advisors LLC grew its stake in Navitas Semiconductor by 30.7% during the 4th quarter. NewEdge Advisors LLC now owns 28,533 shares of the company’s stock worth $204,000 after buying an additional 6,709 shares during the last quarter. VARCOV Co. acquired a new position in Navitas Semiconductor during the 4th quarter valued at about $589,000. Finally, Engineers Gate Manager LP raised its stake in Navitas Semiconductor by 31.2% in the fourth quarter. Engineers Gate Manager LP now owns 233,169 shares of the company’s stock valued at $1,665,000 after buying an additional 55,459 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.