Navitas Semiconductor (NASDAQ:NVTS) Director Richard Hendrix Sells 110,165 Shares

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Richard Hendrix sold 110,165 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total value of $3,190,378.40. Following the completion of the transaction, the director owned 101,709 shares in the company, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Navitas Semiconductor Price Performance

NVTS stock opened at $26.60 on Friday. The company has a market cap of $6.22 billion, a P/E ratio of -42.22 and a beta of 3.62. Navitas Semiconductor Corporation has a 1 year low of $4.95 and a 1 year high of $33.82. The stock’s fifty day moving average price is $15.81 and its 200-day moving average price is $11.26.

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

Analyst Upgrades and Downgrades

NVTS has been the topic of several analyst reports. Morgan Stanley reiterated an “underweight” rating and set a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Needham & Company LLC increased their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Rosenblatt Securities lifted their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $12.87.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prospera Financial Services Inc grew its stake in Navitas Semiconductor by 3.8% during the 3rd quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock valued at $219,000 after purchasing an additional 1,120 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Navitas Semiconductor by 2.8% in the 1st quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock valued at $370,000 after buying an additional 1,150 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Navitas Semiconductor by 12.6% in the 4th quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock valued at $96,000 after buying an additional 1,505 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Navitas Semiconductor by 3.8% in the 2nd quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock valued at $300,000 after buying an additional 1,667 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of Navitas Semiconductor by 16.8% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock valued at $86,000 after buying an additional 1,725 shares during the period. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

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.