Key Points
- CFO Todd Glickman sold 78,307 shares of Navitas on Dec. 8 at an average price of $9.77 for $765,059, trimming his stake by 8.78% to 813,279 shares worth about $7.95M.
- Glickman also executed earlier insider sales — 96,313 shares on Nov. 5 at $10.56 (~$1.02M) and 345 shares on Nov. 21 at $7.41 — showing multiple recent disposals by the CFO.
- Navitas has a $2.21B market cap, reported negative EPS and a revenue decline of 53.4% year-over-year last quarter; analysts hold a consensus "Hold" rating with an average price target of $6.48.
Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) CFO Todd Glickman sold 78,307 shares of the firm's stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $9.77, for a total transaction of $765,059.39. Following the sale, the chief financial officer owned 813,279 shares of the company's stock, valued at $7,945,735.83. This trade represents a 8.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Todd Glickman also recently made the following trade(s):
- On Friday, November 21st, Todd Glickman sold 345 shares of Navitas Semiconductor stock. The shares were sold at an average price of $7.41, for a total value of $2,556.45.
- On Wednesday, November 5th, Todd Glickman sold 96,313 shares of Navitas Semiconductor stock. The shares were sold at an average price of $10.56, for a total transaction of $1,017,065.28.
Navitas Semiconductor Stock Up 1.3%
NVTS opened at $9.60 on Tuesday. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -15.00 and a beta of 3.14. The firm has a 50-day moving average price of $10.10 and a 200-day moving average price of $7.85. 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, meeting analysts' consensus estimates of ($0.05). The company had revenue of $10.11 million for 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%. Navitas Semiconductor's revenue was down 53.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) EPS. On average, sell-side analysts expect that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Navitas Semiconductor
A number of large investors have recently added to or reduced their stakes in NVTS. Vanguard Group Inc. boosted its holdings 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 worth $96,464,000 after purchasing an additional 2,550,613 shares in 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 raised its holdings in Navitas Semiconductor by 1,332.3% during 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. increased its holdings in Navitas Semiconductor by 75.2% during the 2nd 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 period. Finally, JPMorgan Chase & Co. grew its position 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 worth $9,356,000 after buying an additional 1,350,857 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on NVTS. Rosenblatt Securities reaffirmed a "neutral" rating and set a $8.00 target price on shares of Navitas Semiconductor in a report on Monday, November 10th. CJS Securities downgraded Navitas Semiconductor from an "outperform" rating to a "market perform" rating in a research report on Monday, August 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. Jefferies Financial Group upgraded Navitas Semiconductor to a "hold" rating in a research note on Tuesday, October 28th. Finally, Needham & Company LLC raised their price target on Navitas Semiconductor from $8.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target 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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