Navitas Semiconductor (NASDAQ:NVTS) Director Sells $462,250.81 in Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Gary Kent Wunderlich, Jr. sold 49,651 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $9.31, for a total transaction of $462,250.81. Following the completion of the sale, the director owned 86,964 shares of the company’s stock, valued at $809,634.84. This trade represents a 36.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Navitas Semiconductor Stock Performance

NVTS stock opened at $8.59 on Monday. Navitas Semiconductor Corporation has a fifty-two week low of $1.52 and a fifty-two week high of $17.79. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -13.42 and a beta of 3.14. The business’s 50 day moving average price is $10.21 and its two-hundred day moving average price is $7.95.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $10.11 million for the quarter, compared to analyst estimates of $10.00 million. Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.The firm’s revenue was down 53.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) earnings per share. Sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVTS. CJS Securities cut shares of Navitas Semiconductor from an “outperform” rating to a “market perform” rating in a report on Monday, August 18th. Rosenblatt Securities reissued a “neutral” rating and set a $8.00 price objective on shares of Navitas Semiconductor in a research note on Monday, November 10th. Jefferies Financial Group upgraded shares of Navitas Semiconductor to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. Finally, Needham & Company LLC boosted their price target on Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.48.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Allworth Financial LP grew its holdings in shares of Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after buying an additional 2,698 shares during the last quarter. Cranbrook Wealth Management LLC bought a new position in Navitas Semiconductor in the 2nd quarter valued at approximately $25,000. NewEdge Advisors LLC lifted its position in Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after acquiring an additional 2,942 shares in the last quarter. CWM LLC boosted its stake in Navitas Semiconductor by 24.7% during the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after purchasing an additional 893 shares during the last quarter. Finally, ST Germain D J Co. Inc. bought a new stake in shares of Navitas Semiconductor in the 2nd quarter worth $33,000. 46.14% of the stock is owned by hedge funds and other 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.