Key Points
- Director Dipender Saluja sold 873,488 shares on Dec. 15 at an average of $8.10 for $7.08M, cutting his stake by 15.52% to 4,755,536 shares (≈$38.52M); combined with a Dec. 12 sale of 315,396 shares, he disposed of ≈1.19M shares for ≈$9.8M total.
- Navitas reported (Nov. 3) a loss of $0.05 EPS with revenue of $10.11M (down 53.4% YoY) and negative margins, and Wall Street’s consensus is a "Hold" with a $6.48 target amid mixed analyst views (Needham raised its target to $13 while others remain neutral or bearish).
Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) Director Ranbir Singh sold 179,354 shares of Navitas Semiconductor stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $8.68, for a total transaction of $1,556,792.72. Following the completion of the sale, the director owned 389,096 shares of the company's stock, valued at approximately $3,377,353.28. The trade was a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Navitas Semiconductor Price Performance
Shares of NASDAQ:NVTS opened at $7.83 on Wednesday. The business's 50 day simple moving average is $10.20 and its 200 day simple moving average is $7.99. Navitas Semiconductor Corporation has a 1 year low of $1.52 and a 1 year high of $17.79. The company has a market capitalization of $1.80 billion, a P/E ratio of -12.23 and a beta of 3.14.
Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate 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 return on equity of 14.86% and a negative net margin of 220.85%.The company's quarterly revenue was down 53.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.10) EPS. On average, sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on NVTS shares. Rosenblatt Securities reaffirmed a "neutral" rating and set a $8.00 price objective on shares of Navitas Semiconductor in a research report on Monday, November 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Navitas Semiconductor in a report on Wednesday, October 8th. Jefferies Financial Group upgraded shares of Navitas Semiconductor to a "hold" rating in a research report on Tuesday, October 28th. Finally, Needham & Company LLC boosted their price objective on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, November 4th. Two 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 stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $6.48.
Get Our Latest Report on NVTS
Institutional Investors Weigh In On Navitas Semiconductor
A number of hedge funds have recently made changes to their positions in NVTS. Cranbrook Wealth Management LLC bought a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at approximately $25,000. Allworth Financial LP lifted its stake in Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company's stock valued at $26,000 after purchasing an additional 2,698 shares during the last quarter. NewEdge Advisors LLC boosted its position in Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company's stock valued at $29,000 after buying an additional 2,942 shares in the last quarter. ST Germain D J Co. Inc. bought a new stake in shares of Navitas Semiconductor during the second quarter worth $33,000. Finally, CWM LLC increased 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. 46.14% of the stock is currently owned by institutional investors and hedge funds.
Navitas Semiconductor Company Profile
(
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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