Brian Long Sells 22,034 Shares of Navitas Semiconductor (NASDAQ:NVTS) Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Brian Long sold 22,034 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $8.51, for a total transaction of $187,509.34. Following the transaction, the director directly owned 58,165 shares of the company’s stock, valued at $494,984.15. This trade represents a 27.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Brian Long also recently made the following trade(s):

• On Monday, December 1st, Brian Long sold 142,150 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.55, for a total transaction of $1,215,382.50.
• On Wednesday, November 26th, Brian Long sold 1,493,046 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.54, for a total transaction of $12,750,612.84.
• On Monday, September 15th, Brian Long sold 500,000 shares of Navitas Semiconductor stock. The stock was sold at an average price of $6.11, for a total value of $3,055,000.00.
• On Thursday, September 11th, Brian Long sold 455,596 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.05, for a total value of $2,756,355.80.
• On Wednesday, September 10th, Brian Long sold 750,000 shares of Navitas Semiconductor stock. The stock was sold at an average price of $5.84, for a total value of $4,380,000.00.
• On Tuesday, September 9th, Brian Long sold 497,700 shares of Navitas Semiconductor stock. The stock was sold at an average price of $5.76, for a total value of $2,866,752.00.
• On Friday, September 5th, Brian Long sold 2,300 shares of Navitas Semiconductor stock. The stock was sold at an average price of $5.75, for a total value of $13,225.00.

Navitas Semiconductor Stock Performance

NVTS opened at $9.45 on Friday. Navitas Semiconductor Corporation has a 1 year low of $1.52 and a 1 year high of $17.79. The firm has a 50 day moving average price of $9.99 and a 200 day moving average price of $7.69. The company has a market cap of $2.18 billion, a PE ratio of -14.77 and a beta of 3.14.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Kingsview Wealth Management LLC purchased a new position in shares of Navitas Semiconductor during the 2nd quarter valued at approximately $385,000. Cornerstone Investment Partners LLC acquired a new stake in Navitas Semiconductor in the second quarter valued at $461,000. Geode Capital Management LLC boosted its stake in Navitas Semiconductor by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 3,340,193 shares of the company’s stock valued at $21,882,000 after acquiring an additional 124,594 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Navitas Semiconductor by 980.4% during the 1st quarter. Hsbc Holdings PLC now owns 158,566 shares of the company’s stock worth $323,000 after acquiring an additional 143,890 shares in the last quarter. Finally, SCS Capital Management LLC bought a new stake in shares of Navitas Semiconductor in the 1st quarter worth about $567,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.