Key Points
- Brian Long, a Navitas director, sold 48,165 shares on Dec. 3 at $8.50 (≈$409k) and has executed multiple large insider sales in recent months totaling roughly $27.6M.
- Shares trade near $9.48 with a market cap of about $2.19B, but Navitas reported EPS of -$0.05 and revenue of $10.11M (down 53.4% YoY), and analysts hold a consensus "Hold" rating with a $6.48 target.
Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) Director Brian Long sold 48,165 shares of the business's stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $8.50, for a total transaction of $409,402.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Brian Long also recently made the following trade(s):
- On Tuesday, December 2nd, Brian Long sold 22,034 shares of Navitas Semiconductor stock. The stock was sold at an average price of $8.51, for a total transaction of $187,509.34.
- 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 transaction of $1,215,382.50.
- On Wednesday, November 26th, Brian Long sold 1,493,046 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.54, for a total transaction of $12,750,612.84.
- On Monday, September 15th, Brian Long sold 500,000 shares of Navitas Semiconductor stock. The stock was 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 shares were 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 value 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 value of $2,866,752.00.
Navitas Semiconductor Trading Up 0.3%
Shares of NVTS opened at $9.48 on Friday. Navitas Semiconductor Corporation has a 12-month low of $1.52 and a 12-month high of $17.79. The company has a market cap of $2.19 billion, a PE ratio of -14.81 and a beta of 3.14. The stock has a 50-day moving average price of $10.05 and a 200-day moving average price of $7.74.
Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.05). Navitas Semiconductor had a negative net margin of 220.85% and a negative return on equity of 14.86%. The business had revenue of $10.11 million for the quarter, compared to the consensus estimate of $10.00 million. During the same period last year, the firm posted ($0.10) earnings per share. Navitas Semiconductor's quarterly revenue was down 53.4% on a year-over-year basis. As a group, analysts predict that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of NVTS. Vanguard Group Inc. lifted its stake in shares of Navitas Semiconductor by 23.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,360,648 shares of the company's stock valued at $96,464,000 after acquiring an additional 2,550,613 shares during the last quarter. Jump Financial LLC purchased a new position in Navitas Semiconductor in the 3rd quarter worth approximately $11,243,000. BNP Paribas Financial Markets increased its stake 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 worth $10,510,000 after purchasing an additional 1,492,512 shares during the period. Invesco Ltd. lifted its position in Navitas Semiconductor by 75.2% in the second quarter. Invesco Ltd. now owns 3,206,008 shares of the company's stock valued at $20,999,000 after purchasing an additional 1,376,205 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Navitas Semiconductor by 1,742.4% during the second quarter. JPMorgan Chase & Co. now owns 1,428,386 shares of the company's stock valued at $9,356,000 after purchasing an additional 1,350,857 shares during the period. Hedge funds and other institutional investors own 46.14% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Navitas Semiconductor in a report on Wednesday, October 8th. Jefferies Financial Group raised Navitas Semiconductor to a "hold" rating in a research note on Tuesday, October 28th. CJS Securities cut Navitas Semiconductor from an "outperform" rating to a "market perform" rating in a report on Monday, August 18th. Needham & Company LLC raised their price objective on Navitas Semiconductor from $8.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, November 4th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and issued a $8.00 target price on shares of Navitas Semiconductor in a research note on Monday, November 10th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.48.
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About Navitas Semiconductor
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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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