Navitas Semiconductor Co. (NASDAQ:NVTS) Director Gary Kent Wunderlich, Jr. Sells 2,610 Shares

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Gary Kent Wunderlich, Jr. sold 2,610 shares of Navitas Semiconductor stock in a transaction on Monday, June 9th. The stock was sold at an average price of $7.36, for a total transaction of $19,209.60. Following the completion of the transaction, the director now owns 338,435 shares in the company, valued at approximately $2,490,881.60. The trade was a 0.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Navitas Semiconductor Trading Down 6.3%

Navitas Semiconductor stock opened at $7.32 on Friday. The stock has a market cap of $1.40 billion, a P/E ratio of -17.43 and a beta of 2.96. The company has a 50-day moving average price of $3.38 and a 200 day moving average price of $3.12. Navitas Semiconductor Co. has a 12-month low of $1.52 and a 12-month high of $9.17.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The firm had revenue of $14.02 million for the quarter, compared to analysts’ expectations of $14.01 million. During the same quarter last year, the company earned ($0.06) earnings per share. The firm’s revenue was down 39.7% compared to the same quarter last year. As a group, analysts forecast that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors have recently modified their holdings of the business. Goodman Financial Corp purchased a new position in Navitas Semiconductor in the 4th quarter valued at $36,000. Caption Management LLC acquired a new position in shares of Navitas Semiconductor during the 4th quarter worth $36,000. Tower Research Capital LLC TRC raised its stake in shares of Navitas Semiconductor by 125.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock worth $37,000 after buying an additional 5,726 shares during the last quarter. Steel Grove Capital Advisors LLC acquired a new position in shares of Navitas Semiconductor during the 4th quarter worth $39,000. Finally, Cibc World Markets Corp acquired a new position in Navitas Semiconductor in the 4th quarter valued at about $42,000. 46.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVTS has been the topic of several research reports. Needham & Company LLC dropped their price objective on shares of Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley lowered shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $2.10 to $1.50 in a research report on Monday, April 7th. Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Finally, Rosenblatt Securities increased their price objective on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Navitas Semiconductor currently has an average rating of “Moderate Buy” and a consensus target price of $3.79.

Navitas Semiconductor Company Profile

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.