Navitas Semiconductor (NASDAQ:NVTS) Director Gary Kent Wunderlich Jr Sells 73,000 Shares

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.11, for a total value of $2,052,030.00. Following the transaction, the director directly owned 13,964 shares of the company’s stock, valued at $392,528.04. This trade represents a 83.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Navitas Semiconductor Stock Down 6.7%

Shares of NASDAQ:NVTS traded down $1.91 during trading on Friday, hitting $26.60. 22,993,232 shares of the company traded hands, compared to its average volume of 28,054,346. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of -42.22 and a beta of 3.62. The business’s fifty day moving average is $15.46 and its 200-day moving average is $11.15. Navitas Semiconductor Corporation has a one year low of $4.95 and a one year high of $33.82.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Rosenblatt Securities upped their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Morgan Stanley reissued an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Needham & Company LLC increased their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Robert W. Baird increased their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Navitas Semiconductor has an average rating of “Hold” and a consensus target price of $12.87.

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP grew its holdings in Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after buying an additional 2,698 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Navitas Semiconductor by 3,200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after buying an additional 4,000 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after buying an additional 2,942 shares in the last quarter. GAMMA Investing LLC lifted its position in Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after purchasing an additional 2,548 shares during the period. Finally, State of Wyoming lifted its position in Navitas Semiconductor by 92.8% in the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after purchasing an additional 2,312 shares during the period. 46.14% of the stock is owned by institutional investors.

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.