Richard Hendrix Sells 33,649 Shares of Navitas Semiconductor (NASDAQ:NVTS) Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) Director Richard Hendrix sold 33,649 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total transaction of $998,029.34. Following the completion of the sale, the director directly owned 33,855 shares in the company, valued at approximately $1,004,139.30. This trade represents a 49.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Navitas Semiconductor Stock Down 6.7%

Shares of Navitas Semiconductor stock opened at $26.60 on Friday. 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 moving average of $15.81 and a 200 day moving average of $11.26. Navitas Semiconductor Corporation has a 52 week low of $4.95 and a 52 week high of $33.82.

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

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prospera Financial Services Inc grew its stake in shares of Navitas Semiconductor by 3.8% in the third quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock worth $219,000 after acquiring an additional 1,120 shares during the last quarter. Kestra Advisory Services LLC grew its stake in shares of Navitas Semiconductor by 2.8% in the first quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock worth $370,000 after acquiring an additional 1,150 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Navitas Semiconductor by 12.6% in the fourth quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock worth $96,000 after acquiring an additional 1,505 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Navitas Semiconductor by 3.8% in the second quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock worth $300,000 after acquiring an additional 1,667 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in shares of Navitas Semiconductor by 16.8% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock worth $86,000 after acquiring an additional 1,725 shares during the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.