Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $181,600.00 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Richard J. Hendrix sold 40,000 shares of Navitas Semiconductor stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the completion of the sale, the director now owns 316,709 shares of the company’s stock, valued at $1,437,858.86. This trade represents a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Navitas Semiconductor Stock Performance

Navitas Semiconductor stock traded up $0.02 during trading hours on Tuesday, reaching $4.35. 12,539,117 shares of the company’s stock traded hands, compared to its average volume of 3,050,429. Navitas Semiconductor Co. has a fifty-two week low of $1.75 and a fifty-two week high of $8.44. The firm has a market capitalization of $812.56 million, a price-to-earnings ratio of -10.36 and a beta of 2.37. The firm’s 50 day moving average is $2.56 and its 200-day moving average is $3.16.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $21.68 million for the quarter, compared to the consensus estimate of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. Navitas Semiconductor’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the company posted ($0.10) EPS. Analysts predict that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Institutional Trading of Navitas Semiconductor

Hedge funds have recently bought and sold shares of the stock. DRW Securities LLC bought a new position in shares of Navitas Semiconductor during the 2nd quarter worth approximately $46,000. Wedbush Securities Inc. bought a new position in shares of Navitas Semiconductor during the 2nd quarter worth approximately $49,000. Algert Global LLC bought a new position in shares of Navitas Semiconductor in the second quarter valued at $50,000. Benjamin Edwards Inc. bought a new position in shares of Navitas Semiconductor in the third quarter valued at $36,000. Finally, Bleakley Financial Group LLC bought a new position in shares of Navitas Semiconductor in the third quarter valued at $41,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NVTS shares. Robert W. Baird dropped their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Craig Hallum dropped their price target on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.75.

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.