Key Points
- Director Richard Hendrix sold 33,649 shares of Navitas Semiconductor on May 27 at an average price of $29.66, totaling about $998,029. After the sale, he still held 33,855 shares, cutting his position by nearly 50%.
- Navitas last reported quarterly earnings of -$0.04 per share, beating estimates by $0.01, on revenue of $8.6 million. However, revenue was still down 38.7% year over year and the company remains unprofitable.
- Analyst opinions on NVTS are mixed, with an average rating of Hold and an average price target of $12.87. Recent targets ranged from $13 to $20, while some firms maintained sell or underweight ratings.
Navitas Semiconductor Corporation (NASDAQ:NVTS - Get Free Report) CEO Chris Allexandre sold 13,323 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the transaction, the chief executive officer owned 1,072,633 shares of the company's stock, valued at approximately $34,120,455.73. This represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Chris Allexandre also recently made the following trade(s):
- On Tuesday, March 3rd, Chris Allexandre sold 9,236 shares of Navitas Semiconductor stock. The stock was sold at an average price of $8.93, for a total value of $82,477.48.
Navitas Semiconductor Stock Down 6.7%
NASDAQ NVTS opened at $26.60 on Friday. The stock has a market cap of $6.22 billion, a PE ratio of -42.22 and a beta of 3.62. Navitas Semiconductor Corporation has a fifty-two week low of $4.95 and a fifty-two week high of $33.82. The business has a 50 day moving average price of $15.81 and a two-hundred day moving average price of $11.26.
Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The firm had revenue of $8.60 million during the quarter, compared to analysts' expectations of $8.22 million. During the same quarter in the prior year, the business earned ($0.06) EPS. Navitas Semiconductor's quarterly revenue was down 38.7% compared to the same quarter last year. Sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
NVTS has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Wall Street Zen raised Navitas Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Morgan Stanley reaffirmed an "underweight" rating and issued a $13.70 target price on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Robert W. Baird upped their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Finally, Needham & Company LLC upped their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. 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 stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $12.87.
Check Out Our Latest Stock Report on NVTS
Hedge Funds Weigh In On Navitas Semiconductor
A number of institutional investors have recently made changes to their positions in NVTS. DNB Asset Management AS acquired a new stake in shares of Navitas Semiconductor during the 4th quarter valued at approximately $774,000. UBS Group AG raised its position in shares of Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company's stock valued at $23,612,000 after acquiring an additional 1,875,228 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Navitas Semiconductor during the 3rd quarter valued at approximately $960,000. Newbridge Financial Services Group Inc. raised its position in shares of Navitas Semiconductor by 1,425.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company's stock valued at $949,000 after acquiring an additional 124,164 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Navitas Semiconductor during the 4th quarter valued at approximately $484,000. 46.14% of the stock is owned by institutional investors and hedge funds.
Navitas Semiconductor Company Profile
(
Get Free Report)
Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.
Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.
Further Reading
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