Insider Selling: Navitas Semiconductor (NASDAQ:NVTS) Director Sells 389,096 Shares of Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Ranbir Singh sold 389,096 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $9.52, for a total value of $3,704,193.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, December 12th, Ranbir Singh sold 179,354 shares of Navitas Semiconductor stock. The stock was sold at an average price of $8.68, for a total transaction of $1,556,792.72.

Navitas Semiconductor Stock Up 6.1%

Navitas Semiconductor stock traded up $0.55 during midday trading on Monday, hitting $9.55. The stock had a trading volume of 14,638,080 shares, compared to its average volume of 18,352,082. Navitas Semiconductor Corporation has a 12 month low of $1.52 and a 12 month high of $17.79. The business has a fifty day moving average price of $8.95 and a 200 day moving average price of $8.70.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data 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 firm had revenue of $7.30 million for the quarter, compared to analysts’ expectations of $6.95 million. During the same period last year, the business posted ($0.06) earnings per share. The firm’s revenue for the quarter was down 59.4% on a year-over-year basis. On average, sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NVTS. Allworth Financial LP grew its stake in 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 in the last quarter. NewEdge Advisors LLC boosted 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 during the period. CWM LLC grew its position in Navitas Semiconductor by 24.7% during the third quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after purchasing an additional 893 shares in the last quarter. GAMMA Investing LLC increased its stake in Navitas Semiconductor by 116.5% in the 4th 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 during the period. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Navitas Semiconductor by 1,376.3% during the third quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock worth $38,000 after acquiring an additional 4,927 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NVTS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Thursday, January 22nd. Needham & Company LLC lifted their target price on Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Rosenblatt Securities reduced their price target on Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Two 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.32.

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.