Navitas Semiconductor (NASDAQ:NVTS) CFO Sells $123,064.24 in Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) CFO Todd Glickman sold 12,532 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $9.82, for a total transaction of $123,064.24. Following the sale, the chief financial officer owned 833,383 shares of the company’s stock, valued at $8,183,821.06. This represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Todd Glickman also recently made the following trade(s):

• On Monday, December 8th, Todd Glickman sold 78,307 shares of Navitas Semiconductor stock. The stock was sold at an average price of $9.77, for a total transaction of $765,059.39.

Navitas Semiconductor Price Performance

Shares of NVTS stock traded up $0.55 during mid-day trading on Monday, reaching $9.55. The stock had a trading volume of 14,638,080 shares, compared to its average volume of 18,352,082. The stock’s 50-day moving average price is $8.95 and its two-hundred day moving average price is $8.70. Navitas Semiconductor Corporation has a 52-week low of $1.52 and a 52-week high of $17.79.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Tuesday, February 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). Navitas Semiconductor had a negative return on equity of 15.27% and a negative net margin of 254.71%.The company had revenue of $7.30 million for the quarter, compared to analysts’ expectations of $6.95 million. During the same period last year, the firm earned ($0.06) earnings per share. Navitas Semiconductor’s quarterly revenue was down 59.4% on a year-over-year basis. As a group, equities analysts predict that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Analyst Ratings Changes

NVTS has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Thursday, January 22nd. Rosenblatt Securities reduced their price objective on shares of Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Finally, 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 research report on Tuesday, November 4th. Two equities research 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.32.

Institutional Trading of Navitas Semiconductor

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Navitas Semiconductor by 10.0% in the 4th quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock worth $104,896,000 after acquiring an additional 1,330,703 shares in the last quarter. State Street Corp grew its holdings in Navitas Semiconductor by 18.0% in the fourth quarter. State Street Corp now owns 8,597,950 shares of the company’s stock worth $61,389,000 after purchasing an additional 1,308,626 shares during the period. Invesco Ltd. increased its stake in shares of Navitas Semiconductor by 257.8% during the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after purchasing an additional 3,413,394 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Navitas Semiconductor by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock valued at $31,546,000 after purchasing an additional 501,110 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of Navitas Semiconductor by 131.0% in the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock worth $23,612,000 after purchasing an additional 1,875,228 shares in the last quarter. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.