Key Points
- Director Gary Kent Wunderlich, Jr. sold 49,651 shares on Dec. 11 at an average price of $9.31 for about $462,250, leaving him with 86,964 shares—a 36.34% reduction in his position.
- Navitas is currently loss-making with a negative net margin of 220.85% and quarterly revenue down 53.4% year-over-year; the stock has a $1.98 billion market cap and a consensus analyst rating of "Hold" with an average target of $6.48.
Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) Director Gary Kent Wunderlich, Jr. sold 49,651 shares of the company's stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $9.31, for a total value of $462,250.81. Following the sale, the director owned 86,964 shares of the company's stock, valued at approximately $809,634.84. This represents a 36.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Navitas Semiconductor Price Performance
Shares of NVTS stock opened at $8.59 on Friday. The stock's fifty day moving average price is $10.21 and its 200 day moving average price is $7.93. Navitas Semiconductor Corporation has a 1-year low of $1.52 and a 1-year high of $17.79. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -13.42 and a beta of 3.14.
Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to analysts' expectations of $10.00 million. During the same quarter last year, the company posted ($0.10) earnings per share. The business's quarterly revenue was down 53.4% on a year-over-year basis. As a group, equities research analysts anticipate that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Rosenblatt Securities reissued a "neutral" rating and set a $8.00 price target on shares of Navitas Semiconductor in a report on Monday, November 10th. Needham & Company LLC upped their price objective on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, November 4th. Jefferies Financial Group raised shares of Navitas Semiconductor to a "hold" rating in a research note on Tuesday, October 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Navitas Semiconductor in a research note 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 equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Navitas Semiconductor has a consensus rating of "Hold" and an average target price of $6.48.
Get Our Latest Research Report on Navitas Semiconductor
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of NVTS. Allworth Financial LP increased its stake in Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company's stock worth $26,000 after buying an additional 2,698 shares in the last quarter. Cranbrook Wealth Management LLC acquired a new stake in shares of Navitas Semiconductor in the second quarter worth approximately $25,000. NewEdge Advisors LLC boosted its stake in Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company's stock worth $29,000 after purchasing an additional 2,942 shares during the last quarter. CWM LLC grew its holdings in shares of Navitas Semiconductor by 24.7% during the third quarter. CWM LLC now owns 4,515 shares of the company's stock worth $33,000 after buying an additional 893 shares in the last quarter. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of Navitas Semiconductor in the second quarter valued at about $33,000. 46.14% of the stock is owned by hedge funds and other institutional investors.
Navitas Semiconductor Company Profile
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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.
Further Reading
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