Navitas Semiconductor Co. (NASDAQ:NVTS) Director Dipender Saluja Sells 87,060 Shares of Stock

Navitas Semiconductor Co. (NASDAQ:NVTSGet Free Report) Director Dipender Saluja sold 87,060 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.56, for a total transaction of $396,993.60. Following the sale, the director now owns 6,118,539 shares of the company’s stock, valued at $27,900,537.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dipender Saluja also recently made the following trade(s):

  • On Monday, June 10th, Dipender Saluja sold 87,059 shares of Navitas Semiconductor stock. The stock was sold at an average price of $4.45, for a total transaction of $387,412.55.

Navitas Semiconductor Trading Up 2.2 %

Navitas Semiconductor stock opened at $4.55 on Tuesday. Navitas Semiconductor Co. has a 1-year low of $3.48 and a 1-year high of $11.16. The firm has a market capitalization of $833.11 million, a price-to-earnings ratio of -8.92 and a beta of 2.44. The firm’s fifty day moving average price is $4.18 and its two-hundred day moving average price is $5.62.

Navitas Semiconductor (NASDAQ:NVTSGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. The business had revenue of $23.18 million during the quarter, compared to the consensus estimate of $23.15 million. On average, research analysts forecast that Navitas Semiconductor Co. will post -0.53 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Boston Partners bought a new position in shares of Navitas Semiconductor in the first quarter valued at $393,000. Kodai Capital Management LP lifted its position in shares of Navitas Semiconductor by 14.3% during the first quarter. Kodai Capital Management LP now owns 4,514,576 shares of the company’s stock valued at $21,535,000 after purchasing an additional 565,463 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Navitas Semiconductor during the first quarter valued at about $284,000. Price T Rowe Associates Inc. MD lifted its position in shares of Navitas Semiconductor by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock valued at $151,000 after purchasing an additional 4,533 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Navitas Semiconductor by 14.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 189,865 shares of the company’s stock valued at $906,000 after purchasing an additional 24,315 shares in the last quarter. 46.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price objective on shares of Navitas Semiconductor in a research report on Friday. Needham & Company LLC cut their target price on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Jefferies Financial Group reissued a “hold” rating and set a $4.00 target price (down from $10.00) on shares of Navitas Semiconductor in a research note on Monday, May 13th. Finally, Robert W. Baird cut their target price on shares of Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.41.

Get Our Latest Analysis on NVTS

Navitas Semiconductor Company Profile

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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.

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