Insider Selling: Navitas Semiconductor (NASDAQ:NVTS) Director Sells 142,150 Shares of Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Brian Long sold 142,150 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $8.55, for a total value of $1,215,382.50. Following the transaction, the director directly owned 80,199 shares in the company, valued at $685,701.45. This trade represents a 63.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, December 2nd, Brian Long sold 22,034 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.51, for a total transaction of $187,509.34.
• On Wednesday, November 26th, Brian Long sold 1,493,046 shares of Navitas Semiconductor stock. The stock was 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 shares were 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 stock was sold at an average price of $6.05, for a total transaction 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 shares were 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 shares were sold at an average price of $5.75, for a total value of $13,225.00.

Navitas Semiconductor Price Performance

NVTS stock traded up $0.37 during trading on Wednesday, hitting $8.69. 13,378,987 shares of the stock traded hands, compared to its average volume of 26,442,988. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -13.58 and a beta of 3.14. The firm’s 50 day moving average is $9.89 and its two-hundred day moving average is $7.67. Navitas Semiconductor Corporation has a 1 year low of $1.52 and a 1 year high of $17.79.

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, meeting the consensus estimate of ($0.05). The business had revenue of $10.11 million for the quarter, compared to analysts’ expectations of $10.00 million. Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.The firm’s quarterly revenue was down 53.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) EPS. As a group, analysts anticipate that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC purchased a new position in Navitas Semiconductor during the second quarter valued at approximately $25,000. Allworth Financial LP raised its position in shares of Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after purchasing an additional 2,698 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after buying an additional 2,942 shares in the last quarter. Benjamin Edwards Inc. bought a new position in Navitas Semiconductor in the 1st quarter worth $31,000. Finally, ST Germain D J Co. Inc. bought a new position in Navitas Semiconductor in the 2nd quarter worth $33,000. Institutional investors own 46.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley set a $4.40 target price on Navitas Semiconductor in a research report on Tuesday, August 5th. Jefferies Financial Group raised shares of Navitas Semiconductor to a “hold” rating in a report on Tuesday, October 28th. Needham & Company LLC raised their target price on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. CJS Securities downgraded shares of Navitas Semiconductor from an “outperform” rating to a “market perform” rating in a research report on Monday, August 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.48.

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.