Eugene Sheridan Sells 193,662 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) CEO Eugene Sheridan sold 193,662 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $3.03, for a total transaction of $586,795.86. Following the completion of the transaction, the chief executive officer now owns 2,149,631 shares in the company, valued at approximately $6,513,381.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, August 28th, Eugene Sheridan sold 453,190 shares of Navitas Semiconductor stock. The stock was sold at an average price of $3.03, for a total value of $1,373,165.70.

Navitas Semiconductor Price Performance

Shares of Navitas Semiconductor stock opened at $3.02 on Friday. Navitas Semiconductor Co. has a 1 year low of $2.87 and a 1 year high of $8.95. The company has a 50-day moving average of $3.68 and a 200 day moving average of $4.29. The firm has a market cap of $552.97 million, a price-to-earnings ratio of -5.92 and a beta of 2.42.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Monday, August 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. The business had revenue of $20.50 million for the quarter, compared to analysts’ expectations of $20.01 million. During the same quarter in the previous year, the business posted ($0.12) earnings per share. Navitas Semiconductor’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts anticipate that Navitas Semiconductor Co. will post -0.53 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVTS. Deutsche Bank Aktiengesellschaft dropped their price objective on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Craig Hallum cut their price target on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Robert W. Baird decreased their price objective on shares of 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 reaffirmed a “hold” rating and issued a $4.00 target price (down from $10.00) on shares of Navitas Semiconductor in a research report on Monday, May 13th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price target on shares of Navitas Semiconductor in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.00.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC increased its holdings in shares of Navitas Semiconductor by 12.5% during the first quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock valued at $97,000 after acquiring an additional 2,258 shares in the last quarter. Laidlaw Wealth Management LLC increased its stake in Navitas Semiconductor by 16.7% during the 4th quarter. Laidlaw Wealth Management LLC now owns 18,316 shares of the company’s stock valued at $148,000 after purchasing an additional 2,618 shares in the last quarter. Victory Capital Management Inc. increased its stake in Navitas Semiconductor by 23.9% during the 4th quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock valued at $128,000 after purchasing an additional 3,052 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Navitas Semiconductor by 5.2% in the second quarter. Ensign Peak Advisors Inc now owns 77,245 shares of the company’s stock worth $304,000 after buying an additional 3,800 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Navitas Semiconductor by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 77,940 shares of the company’s stock valued at $306,000 after buying an additional 4,000 shares during the last quarter. 46.14% of the stock is owned by institutional investors.

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.