Insider Selling: Navitas Semiconductor (NASDAQ:NVTS) Director Sells 22,034 Shares of Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Brian Long sold 22,034 shares of Navitas Semiconductor stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $8.51, for a total transaction of $187,509.34. Following the completion of the sale, the director directly owned 58,165 shares of the company’s stock, valued at approximately $494,984.15. This trade represents a 27.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, December 1st, Brian Long sold 142,150 shares of Navitas Semiconductor stock. The stock was sold at an average price of $8.55, for a total value of $1,215,382.50.
• On Wednesday, November 26th, Brian Long sold 1,493,046 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.54, for a total value of $12,750,612.84.
• On Monday, September 15th, Brian Long sold 500,000 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.11, for a total value of $3,055,000.00.
• On Thursday, September 11th, Brian Long sold 455,596 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.05, for a total value of $2,756,355.80.
• On Wednesday, September 10th, Brian Long sold 750,000 shares of Navitas Semiconductor stock. The shares were sold at an average price of $5.84, for a total transaction of $4,380,000.00.
• On Tuesday, September 9th, Brian Long sold 497,700 shares of Navitas Semiconductor stock. The stock was sold at an average price of $5.76, for a total transaction of $2,866,752.00.
• On Friday, September 5th, Brian Long sold 2,300 shares of Navitas Semiconductor stock. The shares were sold at an average price of $5.75, for a total transaction of $13,225.00.

Navitas Semiconductor Price Performance

Shares of NASDAQ:NVTS traded up $0.37 during midday trading on Wednesday, hitting $8.69. The company had a trading volume of 13,378,987 shares, compared to its average volume of 26,442,988. Navitas Semiconductor Corporation has a 12-month low of $1.52 and a 12-month high of $17.79. The company has a fifty day moving average of $9.89 and a two-hundred day moving average of $7.67. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -13.58 and a beta of 3.14.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $10.11 million during the quarter, compared to analyst estimates of $10.00 million. Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.Navitas Semiconductor’s revenue for the quarter was down 53.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) earnings per share. Research analysts expect that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Kingsview Wealth Management LLC purchased a new stake in shares of Navitas Semiconductor in the second quarter valued at $385,000. Cornerstone Investment Partners LLC bought a new position in Navitas Semiconductor during the 2nd quarter valued at about $461,000. Geode Capital Management LLC raised its position in Navitas Semiconductor by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 3,340,193 shares of the company’s stock worth $21,882,000 after purchasing an additional 124,594 shares during the period. Hsbc Holdings PLC raised its position in Navitas Semiconductor by 980.4% in the 1st quarter. Hsbc Holdings PLC now owns 158,566 shares of the company’s stock worth $323,000 after purchasing an additional 143,890 shares during the period. Finally, SCS Capital Management LLC bought a new stake in Navitas Semiconductor in the first quarter worth about $567,000. 46.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Craig Hallum lowered shares of Navitas Semiconductor from a “buy” rating to a “hold” rating and set a $6.00 price target for the company. in a research report on Tuesday, August 5th. Needham & Company LLC upped their target price on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Morgan Stanley set a $4.40 price target on Navitas Semiconductor in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $8.00 target price on shares of Navitas Semiconductor in a research note on Monday, November 10th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Navitas Semiconductor has an average rating of “Hold” and a consensus target price of $6.48.

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.