Navitas Semiconductor (NASDAQ:NVTS) Director Ranbir Singh Sells 3,060,118 Shares

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Ranbir Singh sold 3,060,118 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total value of $89,630,856.22. Following the completion of the transaction, the director directly owned 15,607,533 shares of the company’s stock, valued at approximately $457,144,641.57. The trade was a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ranbir Singh also recently made the following trade(s):

• On Thursday, May 28th, Ranbir Singh sold 664,058 shares of Navitas Semiconductor stock. The stock was sold at an average price of $28.72, for a total value of $19,071,745.76.

Navitas Semiconductor Trading Down 6.7%

Shares of NVTS traded down $1.91 during trading hours on Friday, hitting $26.60. The company had a trading volume of 22,993,232 shares, compared to its average volume of 28,054,346. The company has a market capitalization of $6.22 billion, a PE ratio of -42.22 and a beta of 3.62. Navitas Semiconductor Corporation has a one year low of $4.95 and a one year high of $33.82. The company’s fifty day moving average price is $15.46 and its two-hundred day moving average price is $11.15.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The business’s revenue for the quarter was down 38.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) EPS. Analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Hedge Funds Weigh In On Navitas Semiconductor

Hedge funds have recently bought and sold shares of the business. Allworth Financial LP boosted its position in Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after purchasing an additional 2,698 shares in the last quarter. NewEdge Advisors LLC boosted its position in Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after purchasing an additional 2,942 shares in the last quarter. GAMMA Investing LLC boosted its position in Navitas Semiconductor by 116.5% during the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after purchasing an additional 2,548 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Navitas Semiconductor by 3,200.0% during the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after purchasing an additional 4,000 shares in the last quarter. Finally, State of Wyoming boosted its position in Navitas Semiconductor by 92.8% during the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after purchasing an additional 2,312 shares in the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Analysts Set New Price Targets

NVTS has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Morgan Stanley restated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Needham & Company LLC upped their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Robert W. Baird upped their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.87.

Navitas Semiconductor Company Profile

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.