Navitas Semiconductor (NASDAQ:NVTS) Director Dipender Saluja Sells 315,396 Shares

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Dipender Saluja sold 315,396 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $8.65, for a total transaction of $2,728,175.40. Following the completion of the sale, the director owned 5,629,024 shares of the company’s stock, valued at approximately $48,691,057.60. This trade represents a 5.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Dipender Saluja also recently made the following trade(s):

• On Monday, December 15th, Dipender Saluja sold 873,488 shares of Navitas Semiconductor stock. The stock was sold at an average price of $8.10, for a total value of $7,075,252.80.

Navitas Semiconductor Trading Down 1.6%

Shares of NVTS traded down $0.13 on Tuesday, reaching $7.83. 10,696,141 shares of the company’s stock traded hands, compared to its average volume of 26,074,301. The stock’s 50 day simple moving average is $10.20 and its two-hundred day simple moving average is $7.97. The stock has a market cap of $1.80 billion, a PE ratio of -12.23 and a beta of 3.14. Navitas Semiconductor Corporation has a 52-week low of $1.52 and a 52-week high of $17.79.

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

Wall Street Analysts Forecast Growth

NVTS has been the subject of a number of research analyst reports. Rosenblatt Securities restated a “neutral” rating and set a $8.00 price objective 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. CJS Securities cut shares of Navitas Semiconductor from an “outperform” rating to a “market perform” rating in a report on Monday, August 18th. Jefferies Financial Group upgraded Navitas Semiconductor to a “hold” rating in a research note on Tuesday, October 28th. Finally, Needham & Company LLC raised their target price on Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. 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. According to data from MarketBeat.com, Navitas Semiconductor currently has an average rating of “Hold” and an average target price of $6.48.

Hedge Funds Weigh In On Navitas Semiconductor

A number of large investors have recently made changes to their positions in NVTS. Cranbrook Wealth Management LLC bought a new position in Navitas Semiconductor in the 2nd quarter worth about $25,000. Allworth Financial LP boosted 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 acquiring an additional 2,698 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after purchasing an additional 2,942 shares in the last quarter. ST Germain D J Co. Inc. bought a new position in shares of Navitas Semiconductor in the second quarter worth approximately $33,000. Finally, CWM LLC increased its position in shares of Navitas Semiconductor by 24.7% in the third quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after purchasing an additional 893 shares during the last quarter. 46.14% of the stock is owned by institutional investors.

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.