Ranbir Singh Sells 664,058 Shares of Navitas Semiconductor (NASDAQ:NVTS) Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Ranbir Singh sold 664,058 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.72, for a total transaction of $19,071,745.76. Following the sale, the director owned 14,943,475 shares in the company, valued at $429,176,602. This trade represents a 4.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, May 27th, Ranbir Singh sold 3,060,118 shares of Navitas Semiconductor stock. The stock was sold at an average price of $29.29, for a total transaction of $89,630,856.22.

Navitas Semiconductor Stock Performance

Shares of Navitas Semiconductor stock opened at $26.60 on Friday. Navitas Semiconductor Corporation has a one year low of $4.95 and a one year high of $33.82. The company has a market cap of $6.22 billion, a PE ratio of -42.22 and a beta of 3.62. The business has a 50-day simple moving average of $15.81 and a 200-day simple moving average of $11.26.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS 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 during the quarter, compared to the consensus estimate of $8.22 million. During the same period in the previous year, the company posted ($0.06) earnings per share. The business’s revenue for the quarter was down 38.7% on a year-over-year basis. On average, sell-side analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVTS. Allworth Financial LP boosted its holdings 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 purchasing an additional 2,698 shares in the last quarter. NewEdge Advisors LLC lifted 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 during the last quarter. GAMMA Investing LLC lifted 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 during the last quarter. Geneos Wealth Management Inc. lifted 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 during the last quarter. Finally, State of Wyoming lifted 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 during the last quarter. 46.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on NVTS shares. Robert W. Baird boosted their price objective on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Rosenblatt Securities boosted their price objective on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Morgan Stanley reaffirmed an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Finally, Needham & Company LLC upped their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average 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.