Navitas Semiconductor (NASDAQ:NVTS) Director Sells 33,649 Shares

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Richard Hendrix sold 33,649 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total value of $998,029.34. Following the transaction, the director directly owned 33,855 shares of the company’s stock, valued at $1,004,139.30. The trade was a 49.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Navitas Semiconductor Stock Down 6.7%

Shares of Navitas Semiconductor stock traded down $1.91 during mid-day trading on Friday, reaching $26.60. 22,993,232 shares of the stock traded hands, compared to its average volume of 28,054,346. The business has a 50-day moving average of $15.46 and a 200 day moving average of $11.15. Navitas Semiconductor Corporation has a fifty-two week low of $4.95 and a fifty-two week high of $33.82. The stock has a market capitalization of $6.22 billion, a PE ratio of -42.22 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating 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 analysts’ expectations of $8.22 million. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. The business’s revenue was down 38.7% compared to the same quarter last year. On average, equities research analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on NVTS shares. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Needham & Company LLC upped their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Rosenblatt Securities upped their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Robert W. Baird upped their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, Weiss Ratings restated 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 given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.87.

Institutional Investors Weigh In On Navitas Semiconductor

A number of large investors have recently made changes to their positions in NVTS. Prospera Financial Services Inc grew its position in Navitas Semiconductor by 3.8% in the third quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock worth $219,000 after acquiring an additional 1,120 shares during the period. Kestra Advisory Services LLC grew its position in Navitas Semiconductor by 2.8% in the first quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock worth $370,000 after acquiring an additional 1,150 shares during the period. Russell Investments Group Ltd. grew its position in Navitas Semiconductor by 12.6% in the fourth quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock worth $96,000 after acquiring an additional 1,505 shares during the period. Captrust Financial Advisors grew its position in Navitas Semiconductor by 3.8% in the second quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock worth $300,000 after acquiring an additional 1,667 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its position in Navitas Semiconductor by 16.8% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock worth $86,000 after acquiring an additional 1,725 shares during the period. 46.14% of the stock is currently 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.