Key Points
- Director Brian Long sold 22,034 Navitas Semiconductor shares on Dec. 2 at an average price of $8.51 for proceeds of $187,509.34, leaving him with 58,165 shares (a 27.47% drop in his stake), as disclosed in an SEC filing.
- The Dec. 2 sale is part of a string of large disposals by Long in Sept–Dec (including 1,493,046 shares on Nov. 26 for ~$12.75M and 142,150 shares on Dec. 1 for ~$1.22M), representing over $27 million in insider sales in recent months.
- For context, Navitas has a market cap of about $2.0 billion, is currently unprofitable (net margin -220.85%) with revenue down ~53% year‑over‑year, and carries a MarketBeat consensus rating of Hold with a $6.48 target price.
Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) Director Brian Long sold 22,034 shares of Navitas Semiconductor stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $8.51, for a total value of $187,509.34. Following the sale, the director directly owned 58,165 shares in the company, valued at approximately $494,984.15. This trade represents a 27.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Brian Long also recently made the following trade(s):
- On Monday, December 1st, Brian Long sold 142,150 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.55, for a total value of $1,215,382.50.
- On Wednesday, November 26th, Brian Long sold 1,493,046 shares of Navitas Semiconductor stock. The stock was sold at an average price of $8.54, for a total value of $12,750,612.84.
- On Monday, September 15th, Brian Long sold 500,000 shares of Navitas Semiconductor stock. The shares were sold at an average price of $6.11, for a total value of $3,055,000.00.
- On Thursday, September 11th, Brian Long sold 455,596 shares of Navitas Semiconductor stock. The stock was sold at an average price of $6.05, for a total value of $2,756,355.80.
- On Wednesday, September 10th, Brian Long sold 750,000 shares of Navitas Semiconductor stock. The stock was sold at an average price of $5.84, for a total transaction of $4,380,000.00.
- On Tuesday, September 9th, Brian Long sold 497,700 shares of Navitas Semiconductor stock. The shares were sold at an average price of $5.76, for a total transaction of $2,866,752.00.
- On Friday, September 5th, Brian Long sold 2,300 shares of Navitas Semiconductor stock. The stock was sold at an average price of $5.75, for a total transaction of $13,225.00.
Navitas Semiconductor Stock Performance
Shares of Navitas Semiconductor stock opened at $8.69 on Thursday. The firm has a market cap of $2.00 billion, a P/E ratio of -13.58 and a beta of 3.14. The firm's 50-day simple moving average is $9.93 and its 200-day simple moving average is $7.67. Navitas Semiconductor Corporation has a twelve month low of $1.52 and a twelve month high of $17.79.
Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). The firm had revenue of $10.11 million during the quarter, compared to analysts' expectations of $10.00 million. Navitas Semiconductor had a negative net margin of 220.85% and a negative return on equity of 14.86%. The company's revenue for the quarter was down 53.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) earnings per share. On average, equities analysts forecast that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
NVTS has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. Rosenblatt Securities reissued a "neutral" rating and set a $8.00 price objective on shares of Navitas Semiconductor in a report on Monday, November 10th. Jefferies Financial Group raised shares of Navitas Semiconductor to a "hold" rating in a report on Tuesday, October 28th. Needham & Company LLC lifted their price target on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, November 4th. Finally, CJS Securities lowered shares of Navitas Semiconductor from an "outperform" rating to a "market perform" rating in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Navitas Semiconductor currently has a consensus rating of "Hold" and a consensus target price of $6.48.
Get Our Latest Report on Navitas Semiconductor
Institutional Investors Weigh In On Navitas Semiconductor
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Navitas Semiconductor by 23.6% during the third quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company's stock worth $96,464,000 after purchasing an additional 2,550,613 shares in the last quarter. Jump Financial LLC acquired a new position in Navitas Semiconductor during the 3rd quarter worth $11,243,000. BNP Paribas Financial Markets boosted its position in Navitas Semiconductor by 1,332.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,604,538 shares of the company's stock valued at $10,510,000 after buying an additional 1,492,512 shares during the last quarter. Invesco Ltd. boosted its position in Navitas Semiconductor by 75.2% in the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company's stock valued at $20,999,000 after buying an additional 1,376,205 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Navitas Semiconductor by 1,742.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,428,386 shares of the company's stock valued at $9,356,000 after buying an additional 1,350,857 shares during the period. Institutional investors and hedge funds own 46.14% of the company's stock.
About Navitas Semiconductor
(
Get Free Report)
Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company's products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.
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