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

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

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

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

Navitas Semiconductor Trading Down 6.7%

Shares of Navitas Semiconductor stock opened at $26.60 on Friday. The business’s 50 day simple moving average is $15.81 and its 200-day simple moving average is $11.26. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of -42.22 and a beta of 3.62. Navitas Semiconductor Corporation has a twelve month low of $4.95 and a twelve month high of $33.82.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The business had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. During the same period in the prior year, the firm earned ($0.06) EPS. The business’s quarterly revenue was down 38.7% on a year-over-year basis. Sell-side analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

NVTS has been the topic of several analyst reports. Robert W. Baird raised their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Needham & Company LLC raised their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Rosenblatt Securities raised their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley restated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Navitas Semiconductor has an average rating of “Hold” and a consensus target price of $12.87.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds have recently modified their holdings of NVTS. American Century Companies Inc. increased its position in shares of Navitas Semiconductor by 104.8% during the 2nd quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock valued at $1,581,000 after purchasing an additional 123,577 shares during the period. Prudential Financial Inc. acquired a new position in shares of Navitas Semiconductor during the 2nd quarter valued at $120,000. New York State Common Retirement Fund increased its position in shares of Navitas Semiconductor by 102.7% during the 2nd quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock valued at $264,000 after purchasing an additional 20,400 shares during the period. Invesco Ltd. increased its position in shares of Navitas Semiconductor by 75.2% during the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock valued at $20,999,000 after purchasing an additional 1,376,205 shares during the period. Finally, Baird Financial Group Inc. increased its position in shares of Navitas Semiconductor by 2,514.3% during the 2nd quarter. Baird Financial Group Inc. now owns 419,237 shares of the company’s stock valued at $2,746,000 after purchasing an additional 403,201 shares during the period. 46.14% of the stock is currently owned by institutional investors and hedge funds.

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.