Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) Director Gary Kent Wunderlich, Jr. sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $9.25, for a total transaction of $462,500.00. Following the completion of the sale, the director directly owned 215,264 shares of the company's stock, valued at approximately $1,991,192. This represents a 18.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Navitas Semiconductor Price Performance
NASDAQ NVTS opened at $9.17 on Wednesday. Navitas Semiconductor Corporation has a 12 month low of $1.52 and a 12 month high of $17.79. The firm has a market capitalization of $2.11 billion, a PE ratio of -14.33 and a beta of 3.14. The company's 50 day simple moving average is $10.13 and its 200 day simple moving average is $7.88.
Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.05). Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.The firm had revenue of $10.11 million during the quarter, compared to the consensus estimate of $10.00 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The firm's revenue for the quarter was down 53.4% compared to the same quarter last year. Sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.
Analyst Ratings Changes
NVTS has been the topic of a number of research reports. Needham & Company LLC boosted their target price on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, November 4th. Rosenblatt Securities restated a "neutral" rating and issued a $8.00 price target on shares of Navitas Semiconductor in a research report on Monday, November 10th. Jefferies Financial Group raised Navitas Semiconductor to a "hold" rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Navitas Semiconductor in a research report on Wednesday, October 8th. Finally, CJS Securities cut Navitas Semiconductor from an "outperform" rating to a "market perform" rating in a report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.48.
View Our Latest Analysis on NVTS
Institutional Investors Weigh In On Navitas Semiconductor
Several hedge funds have recently made changes to their positions in NVTS. Vanguard Group Inc. boosted its stake in 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 during the period. Geode Capital Management LLC raised its stake in Navitas Semiconductor by 3.9% during the 2nd quarter. Geode Capital Management LLC now owns 3,340,193 shares of the company's stock valued at $21,882,000 after purchasing an additional 124,594 shares during the period. Invesco Ltd. lifted its holdings in shares of 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 in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Navitas Semiconductor by 90.0% in the third quarter. BNP Paribas Financial Markets now owns 3,048,943 shares of the company's stock valued at $22,013,000 after purchasing an additional 1,444,405 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Navitas Semiconductor in the third quarter worth $11,243,000. Hedge funds and other institutional investors own 46.14% of the company's stock.
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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