Navitas Semiconductor (NASDAQ:NVTS) Director Gary Kent Wunderlich, Jr. Sells 50,000 Shares

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Gary Kent Wunderlich, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $9.25, for a total transaction of $462,500.00. Following the sale, the director owned 215,264 shares of the company’s stock, valued at $1,991,192. This trade represents a 18.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Navitas Semiconductor Stock Performance

NVTS traded down $0.43 during trading on Tuesday, reaching $9.17. 19,349,207 shares of the company traded hands, compared to its average volume of 26,316,738. The company has a market cap of $2.11 billion, a P/E ratio of -14.33 and a beta of 3.14. The firm has a fifty day simple moving average of $10.10 and a 200 day simple moving average of $7.85. Navitas Semiconductor Corporation has a 12-month low of $1.52 and a 12-month high of $17.79.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company 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 revenue for the quarter was down 53.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) earnings per share. As a group, sell-side analysts expect that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP lifted 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 worth $26,000 after purchasing an additional 2,698 shares during the last quarter. Cranbrook Wealth Management LLC acquired a new stake in shares of Navitas Semiconductor during the 2nd quarter worth approximately $25,000. NewEdge Advisors LLC raised its position 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 acquiring an additional 2,942 shares during the last quarter. CWM LLC increased its stake in Navitas Semiconductor by 24.7% during the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after purchasing an additional 893 shares in the last quarter. Finally, ST Germain D J Co. Inc. acquired a new position in Navitas Semiconductor during the second quarter worth $33,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NVTS shares. Needham & Company LLC lifted their price target on Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Jefferies Financial Group upgraded shares of Navitas Semiconductor to a “hold” rating in a report on Tuesday, October 28th. CJS Securities lowered shares of Navitas Semiconductor from an “outperform” rating to a “market perform” rating in a research report on Monday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $8.00 price objective on shares of Navitas Semiconductor in a research report on Monday, November 10th. Two 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.