Navitas Semiconductor (NASDAQ:NVTS) CEO Sells $82,477.48 in Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) CEO Chris Allexandre sold 9,236 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the completion of the sale, the chief executive officer directly owned 813,323 shares of the company’s stock, valued at $7,262,974.39. This represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Navitas Semiconductor Stock Down 2.8%

NVTS stock traded down $0.26 on Thursday, reaching $8.96. 12,606,423 shares of the company’s stock were exchanged, compared to its average volume of 23,835,600. The firm has a market cap of $2.07 billion, a PE ratio of -15.72 and a beta of 3.16. Navitas Semiconductor Corporation has a twelve month low of $1.52 and a twelve month high of $17.79. The stock has a fifty day moving average of $9.04 and a 200-day moving average of $8.72.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on NVTS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Thursday, January 22nd. Rosenblatt Securities dropped their price target on Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. One investment analyst has 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, the company currently has a consensus rating of “Reduce” and a consensus price target of $6.78.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors have recently made changes to their positions in NVTS. Nisa Investment Advisors LLC boosted its stake in shares of Navitas Semiconductor by 121.8% during the second quarter. Nisa Investment Advisors LLC now owns 11,614 shares of the company’s stock valued at $76,000 after acquiring an additional 6,377 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Navitas Semiconductor in the 2nd quarter valued at about $421,000. Arkadios Wealth Advisors purchased a new position in Navitas Semiconductor in the 2nd quarter valued at about $74,000. Spire Wealth Management boosted its stake in shares of Navitas Semiconductor by 1,480.0% during the 2nd quarter. Spire Wealth Management now owns 15,800 shares of the company’s stock worth $103,000 after purchasing an additional 14,800 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Navitas Semiconductor during the second quarter worth about $461,000. 46.14% of the stock is owned by institutional investors and hedge funds.

Navitas Semiconductor Company Profile

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.