Navitas Semiconductor (NASDAQ:NVTS) CEO Sells $423,804.63 in Stock

Navitas Semiconductor Corporation (NASDAQ:NVTS) CEO Chris Allexandre sold 13,323 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the sale, the chief executive officer directly owned 1,072,633 shares of the company’s stock, valued at $34,120,455.73. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Chris Allexandre also recently made the following trade(s):

• On Tuesday, March 3rd, Chris Allexandre sold 9,236 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.93, for a total value of $82,477.48.

Navitas Semiconductor Stock Performance

Shares of NASDAQ NVTS opened at $26.60 on Monday. The business has a fifty day simple moving average of $15.81 and a 200 day simple moving average of $11.27. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of -42.22 and a beta of 3.75. Navitas Semiconductor Corporation has a one year low of $4.95 and a one year high of $33.82.

Navitas Semiconductor (NASDAQ:NVTS) last issued 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 business had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.Navitas Semiconductor’s revenue was down 38.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) earnings per share. On average, research analysts anticipate that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NVTS has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Morgan Stanley restated an “underweight” rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Needham & Company LLC upped their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Rosenblatt Securities upped their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Robert W. Baird upped their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Two 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.87.

Institutional Trading of Navitas Semiconductor

Several large investors have recently made changes to their positions in the business. Prospera Financial Services Inc grew its holdings in shares of Navitas Semiconductor by 3.8% during the third quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock worth $219,000 after purchasing an additional 1,120 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Navitas Semiconductor by 2.8% during the first quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company’s stock worth $370,000 after purchasing an additional 1,150 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Navitas Semiconductor by 12.6% during the fourth quarter. Russell Investments Group Ltd. now owns 13,476 shares of the company’s stock worth $96,000 after purchasing an additional 1,505 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Navitas Semiconductor by 3.8% during the second quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock worth $300,000 after purchasing an additional 1,667 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of Navitas Semiconductor by 16.8% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock worth $86,000 after purchasing an additional 1,725 shares during the last quarter. Institutional investors own 46.14% of the company’s stock.

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.