Navitas Semiconductor (NASDAQ:NVTS) Director Sells $3,704,193.92 in Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Ranbir Singh sold 389,096 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $9.52, for a total transaction of $3,704,193.92. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Ranbir Singh also recently made the following trade(s):

• On Friday, December 12th, Ranbir Singh sold 179,354 shares of Navitas Semiconductor stock. The stock was sold at an average price of $8.68, for a total transaction of $1,556,792.72.

Navitas Semiconductor Stock Performance

Shares of NVTS opened at $9.22 on Thursday. The company has a 50-day simple moving average of $9.01 and a 200-day simple moving average of $8.71. Navitas Semiconductor Corporation has a 52 week low of $1.52 and a 52 week high of $17.79. The firm has a market capitalization of $2.13 billion, a P/E ratio of -16.18 and a beta of 3.16.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $7.30 million for the quarter, compared to analyst estimates of $6.95 million. Navitas Semiconductor had a negative return on equity of 14.52% and a negative net margin of 254.71%.The company’s quarterly revenue was down 59.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) earnings per share. As a group, equities analysts forecast that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on NVTS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Thursday, January 22nd. Rosenblatt Securities dropped their price objective on shares of Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $6.78.

Institutional Trading of Navitas Semiconductor

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Navitas Semiconductor by 10.0% in the 4th quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock worth $104,896,000 after purchasing an additional 1,330,703 shares during the last quarter. State Street Corp lifted its holdings in Navitas Semiconductor by 18.0% during the 4th quarter. State Street Corp now owns 8,597,950 shares of the company’s stock valued at $61,389,000 after purchasing an additional 1,308,626 shares during the last quarter. Invesco Ltd. boosted its position in Navitas Semiconductor by 257.8% in the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after buying an additional 3,413,394 shares in the last quarter. Geode Capital Management LLC grew its stake in Navitas Semiconductor by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock worth $31,546,000 after buying an additional 501,110 shares during the last quarter. Finally, UBS Group AG grew its stake in Navitas Semiconductor by 131.0% during the fourth quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after buying an additional 1,875,228 shares during the last quarter. 46.14% of the stock is currently owned by 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.