Richard Hendrix Sells 110,165 Shares of Navitas Semiconductor (NASDAQ:NVTS) Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Richard Hendrix sold 110,165 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total value of $3,190,378.40. Following the sale, the director owned 101,709 shares in the company, valued at $2,945,492.64. This represents a 52.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Navitas Semiconductor Trading Down 6.7%

Shares of NASDAQ NVTS opened at $26.60 on Friday. Navitas Semiconductor Corporation has a twelve month low of $4.95 and a twelve month high of $33.82. The company has a market capitalization of $6.22 billion, a price-to-earnings 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 issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating 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 business earned ($0.06) EPS. The business’s quarterly revenue was down 38.7% on a year-over-year basis. As a group, equities analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Needham & Company LLC boosted 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. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Robert W. Baird boosted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.87.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc grew its stake in Navitas Semiconductor by 3.8% during the 3rd quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock worth $219,000 after buying an additional 1,120 shares during the last quarter. Kestra Advisory Services LLC grew its stake in Navitas Semiconductor by 2.8% during the 1st quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock worth $370,000 after buying an additional 1,150 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Navitas Semiconductor by 12.6% during the 4th quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock worth $96,000 after buying an additional 1,505 shares during the last quarter. Captrust Financial Advisors grew its stake in Navitas Semiconductor by 3.8% during the 2nd quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock worth $300,000 after buying an additional 1,667 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in Navitas Semiconductor by 16.8% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock worth $86,000 after buying an additional 1,725 shares during the last quarter. 46.14% of the stock is currently owned by institutional investors.

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.