Navitas Semiconductor (NASDAQ:NVTS) Director Ranbir Singh Sells 3,060,118 Shares

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Ranbir Singh sold 3,060,118 shares of Navitas Semiconductor stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.29, for a total value of $89,630,856.22. Following the completion of the transaction, the director owned 15,607,533 shares of the company’s stock, valued at approximately $457,144,641.57. This trade represents a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ranbir Singh also recently made the following trade(s):

• On Thursday, May 28th, Ranbir Singh sold 664,058 shares of Navitas Semiconductor stock. The shares were sold at an average price of $28.72, for a total value of $19,071,745.76.

Navitas Semiconductor Trading Down 6.7%

NASDAQ:NVTS traded down $1.91 during midday trading on Friday, reaching $26.60. The company had a trading volume of 22,993,232 shares, compared to its average volume of 28,054,346. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of -42.22 and a beta of 3.62. The stock’s fifty day simple moving average is $15.46 and its 200-day simple moving average is $11.15. Navitas Semiconductor Corporation has a 12-month low of $4.95 and a 12-month high of $33.82.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.Navitas Semiconductor’s revenue was down 38.7% compared to the same quarter last year. During the same period last year, the business posted ($0.06) earnings per share. As a group, sell-side analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Institutional Trading of Navitas Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of NVTS. Allworth Financial LP raised its stake in Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after buying an additional 2,698 shares in the last quarter. NewEdge Advisors LLC raised its stake in Navitas Semiconductor by 189.8% in the second 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. GAMMA Investing LLC raised its stake in Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after buying an additional 2,548 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after buying an additional 4,000 shares in the last quarter. Finally, State of Wyoming raised its stake in Navitas Semiconductor by 92.8% in the first quarter. State of Wyoming now owns 4,803 shares of the company’s stock valued at $42,000 after buying an additional 2,312 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Needham & Company LLC boosted their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Rosenblatt Securities raised their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Finally, Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.87.

About Navitas Semiconductor

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.