Navitas Semiconductor (NASDAQ:NVTS) Director Brian Long Sells 48,165 Shares

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Brian Long sold 48,165 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $8.50, for a total value of $409,402.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, December 2nd, Brian Long sold 22,034 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.51, for a total value of $187,509.34.
• 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 transaction of $3,055,000.00.
• On Thursday, September 11th, Brian Long sold 455,596 shares of Navitas Semiconductor stock. The stock was sold at an average price of $6.05, for a total transaction 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 shares were sold at an average price of $5.76, for a total transaction of $2,866,752.00.

Navitas Semiconductor Stock Up 0.3%

Navitas Semiconductor stock traded up $0.03 during midday trading on Friday, reaching $9.48. The company’s stock had a trading volume of 12,476,834 shares, compared to its average volume of 21,654,768. The company has a market cap of $2.19 billion, a P/E ratio of -14.81 and a beta of 3.14. The business has a 50-day simple moving average of $10.05 and a 200-day simple moving average of $7.74. Navitas Semiconductor Corporation has a fifty-two week low of $1.52 and a fifty-two week high of $17.79.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NVTS shares. Rosenblatt Securities reissued a “neutral” rating and issued a $8.00 target price on shares of Navitas Semiconductor in a research report on Monday, November 10th. Jefferies Financial Group raised Navitas Semiconductor to a “hold” rating in a report on Tuesday, October 28th. CJS Securities cut shares of Navitas Semiconductor from an “outperform” rating to a “market perform” rating in a report on Monday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. Finally, Needham & Company LLC raised their price objective on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor has an average rating of “Hold” and a consensus price target of $6.48.

Institutional Trading of Navitas Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in NVTS. Cranbrook Wealth Management LLC acquired a new position in Navitas Semiconductor during the 2nd quarter worth approximately $25,000. Allworth Financial LP boosted its stake in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after buying an additional 2,698 shares in the last quarter. NewEdge Advisors LLC raised its position in Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after acquiring an additional 2,942 shares in the last quarter. Benjamin Edwards Inc. acquired a new stake in Navitas Semiconductor in the first quarter valued at $31,000. Finally, ST Germain D J Co. Inc. acquired a new stake in Navitas Semiconductor in the second quarter valued at $33,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.