Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $214,871.80 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Brian Long sold 31,460 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $6.83, for a total transaction of $214,871.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Brian Long also recently made the following trade(s):

• On Wednesday, June 4th, Brian Long sold 2,955,509 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.61, for a total transaction of $19,535,914.49.
• On Friday, March 21st, Brian Long sold 47,189 shares of Navitas Semiconductor stock. The shares were sold at an average price of $2.36, for a total transaction of $111,366.04.

Navitas Semiconductor Stock Performance

Shares of NVTS stock opened at $6.18 on Friday. The company has a market capitalization of $1.19 billion, a P/E ratio of -14.71 and a beta of 2.96. The company’s 50 day moving average price is $2.79 and its two-hundred day moving average price is $2.94. Navitas Semiconductor Co. has a 52 week low of $1.52 and a 52 week high of $7.53.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $14.02 million during the quarter, compared to analysts’ expectations of $14.01 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The business’s quarterly revenue was down 39.7% on a year-over-year basis. During the same period last year, the business earned ($0.06) EPS. Analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Rosenblatt Securities increased their price target on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Morgan Stanley downgraded shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $2.10 to $1.50 in a research report on Monday, April 7th. Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Finally, Needham & Company LLC dropped their target price on shares of Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.79.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently made changes to their positions in NVTS. Bank of America Corp DE grew its stake in shares of Navitas Semiconductor by 180.5% during the 4th quarter. Bank of America Corp DE now owns 1,234,375 shares of the company’s stock worth $4,407,000 after acquiring an additional 794,371 shares in the last quarter. Invesco Ltd. grew its stake in shares of Navitas Semiconductor by 22.2% during the 1st quarter. Invesco Ltd. now owns 1,829,803 shares of the company’s stock worth $3,751,000 after acquiring an additional 331,832 shares in the last quarter. Nuveen LLC bought a new position in shares of Navitas Semiconductor during the 1st quarter worth approximately $675,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Navitas Semiconductor during the 4th quarter worth approximately $1,170,000. Finally, Edge Capital Group LLC bought a new position in shares of Navitas Semiconductor during the 4th quarter worth approximately $987,000. 46.14% of the stock is owned by institutional investors.

About Navitas Semiconductor

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.