Navitas Semiconductor (NASDAQ:NVTS) CEO Chris Allexandre Sells 13,323 Shares of Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) CEO Chris Allexandre sold 13,323 shares of Navitas Semiconductor stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the sale, the chief executive officer owned 1,072,633 shares of the company’s stock, valued at $34,120,455.73. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Chris Allexandre also recently made the following trade(s):

• On Tuesday, March 3rd, Chris Allexandre sold 9,236 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.93, for a total value of $82,477.48.

Navitas Semiconductor Price Performance

NVTS opened at $26.60 on Friday. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of -42.22 and a beta of 3.62. The business has a 50-day moving average of $15.81 and a two-hundred day moving average of $11.26. Navitas Semiconductor Corporation has a 12 month low of $4.95 and a 12 month high of $33.82.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley reiterated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Robert W. Baird boosted their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Rosenblatt Securities boosted their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Two equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.87.

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP boosted its holdings in Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after acquiring an additional 2,698 shares during the period. NewEdge Advisors LLC boosted its holdings in Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after acquiring an additional 2,942 shares during the period. GAMMA Investing LLC boosted its holdings in Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after acquiring an additional 2,548 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Navitas Semiconductor by 3,200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after acquiring an additional 4,000 shares during the period. Finally, State of Wyoming boosted its holdings in Navitas Semiconductor by 92.8% in the 1st quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after acquiring an additional 2,312 shares during the period. Hedge funds and other institutional investors own 46.14% of the company’s stock.

About Navitas Semiconductor

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.