Daniel M. Kinzer Sells 150,000 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) COO Daniel M. Kinzer sold 150,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total transaction of $465,000.00. Following the transaction, the chief operating officer now owns 4,388,353 shares in the company, valued at $13,603,894.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Navitas Semiconductor Trading Down 2.6 %

Shares of Navitas Semiconductor stock opened at $3.02 on Friday. Navitas Semiconductor Co. has a twelve month low of $2.87 and a twelve month high of $8.95. The stock has a market cap of $552.97 million, a price-to-earnings ratio of -5.92 and a beta of 2.42. The company has a fifty day moving average price of $3.68 and a 200 day moving average price of $4.30.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Navitas Semiconductor had a negative return on equity of 21.22% and a negative net margin of 97.75%. The company had revenue of $20.50 million for the quarter, compared to analyst estimates of $20.01 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts forecast that Navitas Semiconductor Co. will post -0.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NVTS shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Robert W. Baird dropped their price objective on Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $4.00 target price (down previously from $10.00) on shares of Navitas Semiconductor in a report on Monday, May 13th. Morgan Stanley dropped their price target on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reduced their price objective on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Atria Wealth Solutions Inc. purchased a new stake in shares of Navitas Semiconductor during the fourth quarter valued at approximately $81,000. DRW Securities LLC acquired a new stake in Navitas Semiconductor during the 2nd quarter valued at $46,000. Wedbush Securities Inc. purchased a new stake in Navitas Semiconductor during the 2nd quarter worth $49,000. Algert Global LLC acquired a new position in Navitas Semiconductor in the 2nd quarter worth $50,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Navitas Semiconductor by 72.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock valued at $63,000 after buying an additional 5,550 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

About Navitas Semiconductor

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.