Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $153,738.50 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Gary Kent Wunderlich, Jr. sold 32,366 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $4.75, for a total transaction of $153,738.50. Following the transaction, the director now directly owns 395,224 shares of the company’s stock, valued at $1,877,314. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Navitas Semiconductor Price Performance

NASDAQ NVTS traded up $2.09 on Tuesday, hitting $6.50. 268,086,926 shares of the stock were exchanged, compared to its average volume of 6,499,865. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -15.48 and a beta of 2.24. The company’s 50-day moving average price is $2.10 and its two-hundred day moving average price is $2.69. Navitas Semiconductor Co. has a 52-week low of $1.52 and a 52-week high of $7.49.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $14.02 million during the quarter, compared to analyst estimates of $14.01 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The firm’s revenue was down 39.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. Equities analysts predict that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NVTS. Northern Trust Corp lifted its holdings in shares of Navitas Semiconductor by 9.5% during the 4th quarter. Northern Trust Corp now owns 1,209,761 shares of the company’s stock valued at $4,319,000 after buying an additional 104,906 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Navitas Semiconductor by 27.6% during the fourth quarter. Bank of New York Mellon Corp now owns 498,713 shares of the company’s stock worth $1,780,000 after buying an additional 107,828 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Navitas Semiconductor by 125.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock valued at $37,000 after purchasing an additional 5,726 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Navitas Semiconductor by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,013 shares of the company’s stock valued at $186,000 after buying an additional 11,770 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Navitas Semiconductor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,873,888 shares of the company’s stock worth $35,250,000 after acquiring an additional 166,115 shares during the period. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NVTS. Rosenblatt Securities lifted their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Needham & Company LLC lowered their price target on Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley lowered Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $2.10 to $1.50 in a report on Monday, April 7th. Finally, Robert W. Baird reduced their price objective 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. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3.79.

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.