Eugene Sheridan Sells 258,808 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) Stock

Navitas Semiconductor Co. (NASDAQ:NVTSGet Rating) CEO Eugene Sheridan sold 258,808 shares of the business’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $4.38, for a total transaction of $1,133,579.04. Following the completion of the sale, the chief executive officer now owns 2,477,192 shares in the company, valued at approximately $10,850,100.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Eugene Sheridan also recently made the following trade(s):

  • On Monday, November 21st, Eugene Sheridan sold 263,109 shares of Navitas Semiconductor stock. The stock was sold at an average price of $4.09, for a total transaction of $1,076,115.81.

Navitas Semiconductor Trading Up 3.1 %

Shares of NVTS opened at $4.65 on Thursday. The firm has a market capitalization of $584.51 million, a P/E ratio of -7.75 and a beta of 2.18. Navitas Semiconductor Co. has a 12-month low of $3.51 and a 12-month high of $20.10. The firm has a fifty day moving average price of $4.67 and a 200-day moving average price of $5.27.

Institutional Trading of Navitas Semiconductor

A number of large investors have recently made changes to their positions in NVTS. Capricorn Investment Group LLC purchased a new stake in shares of Navitas Semiconductor during the second quarter valued at $84,039,000. State Street Corp lifted its stake in Navitas Semiconductor by 1,768.8% in the first quarter. State Street Corp now owns 4,341,127 shares of the company’s stock worth $44,627,000 after acquiring an additional 4,108,827 shares during the period. First Trust Advisors LP purchased a new stake in Navitas Semiconductor in the first quarter worth about $8,462,000. Invesco Ltd. lifted its stake in Navitas Semiconductor by 47.3% in the first quarter. Invesco Ltd. now owns 2,034,888 shares of the company’s stock worth $20,919,000 after acquiring an additional 653,223 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Navitas Semiconductor by 43.4% in the third quarter. Vanguard Group Inc. now owns 1,859,959 shares of the company’s stock worth $9,021,000 after acquiring an additional 562,582 shares during the period. 22.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NVTS. Rosenblatt Securities dropped their price objective on shares of Navitas Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, November 10th. Robert W. Baird dropped their price objective on shares of Navitas Semiconductor from $12.00 to $8.00 in a research note on Thursday, November 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Navitas Semiconductor from $7.00 to $6.00 in a research note on Thursday, November 10th. Craig Hallum dropped their price objective on shares of Navitas Semiconductor to $6.00 in a research note on Tuesday, November 15th. Finally, Needham & Company LLC lifted their price objective on shares of Navitas Semiconductor from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, August 16th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Navitas Semiconductor has a consensus rating of “Moderate Buy” and a consensus target price of $7.17.

About Navitas Semiconductor

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Navitas Semiconductor Corporation designs, develops, and markets gallium nitride (GaN) power integrated circuits used in power conversion and charging. It operates in the United States, Ireland, Germany, Italy, Belgium, China, Taiwan, and the Philippines. The company was incorporated in 2013 and is based in El Segundo, California.

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