Navitas Semiconductor (NASDAQ:NVTS) CEO Sells $423,804.63 in Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) CEO Chris Allexandre sold 13,323 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total value of $423,804.63. Following the sale, the chief executive officer owned 1,072,633 shares in the company, valued at $34,120,455.73. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Chris Allexandre also recently made the following trade(s):

• On Tuesday, March 3rd, Chris Allexandre sold 9,236 shares of Navitas Semiconductor stock. The stock was sold at an average price of $8.93, for a total value of $82,477.48.

Navitas Semiconductor Stock Performance

Shares of Navitas Semiconductor stock traded down $1.91 on Friday, reaching $26.60. 22,993,232 shares of the company were exchanged, compared to its average volume of 28,054,346. The company’s 50-day moving average is $15.46 and its two-hundred day moving average is $11.15. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of -42.22 and a beta of 3.62. Navitas Semiconductor Corporation has a 1-year low of $4.95 and a 1-year high of $33.82.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The business had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. During the same period in the prior year, the firm earned ($0.06) EPS. The business’s quarterly revenue was down 38.7% on a year-over-year basis. As a group, sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley restated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Needham & Company LLC raised their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Rosenblatt Securities raised their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Hold” and a consensus target price of $12.87.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVTS. American Century Companies Inc. boosted its stake in Navitas Semiconductor by 104.8% during the 2nd quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock valued at $1,581,000 after purchasing an additional 123,577 shares in the last quarter. Prudential Financial Inc. bought a new position in Navitas Semiconductor during the 2nd quarter valued at $120,000. New York State Common Retirement Fund boosted its stake in Navitas Semiconductor by 102.7% during the 2nd quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock valued at $264,000 after purchasing an additional 20,400 shares in the last quarter. Invesco Ltd. boosted its stake in Navitas Semiconductor by 75.2% during the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock valued at $20,999,000 after purchasing an additional 1,376,205 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in Navitas Semiconductor by 2,514.3% during the 2nd quarter. Baird Financial Group Inc. now owns 419,237 shares of the company’s stock valued at $2,746,000 after purchasing an additional 403,201 shares in the last quarter. 46.14% of the stock is owned by institutional investors.

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.