Insider Selling: Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $103,290.00 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director David Moxam sold 33,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $103,290.00. Following the completion of the sale, the director now owns 867,848 shares of the company’s stock, valued at $2,716,364.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Navitas Semiconductor Price Performance

NVTS opened at $3.12 on Thursday. The firm has a market cap of $571.28 million, a PE ratio of -6.12 and a beta of 2.42. The stock has a 50-day moving average price of $3.85 and a 200-day moving average price of $4.44. Navitas Semiconductor Co. has a 1 year low of $2.87 and a 1 year high of $8.95.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $20.50 million for the quarter, compared to the consensus estimate of $20.01 million. Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.12) earnings per share. As a group, sell-side analysts anticipate that Navitas Semiconductor Co. will post -0.53 EPS for the current year.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DRW Securities LLC bought a new stake in shares of Navitas Semiconductor in the 2nd quarter worth $46,000. Wedbush Securities Inc. bought a new stake in Navitas Semiconductor in the 2nd quarter worth about $49,000. Algert Global LLC purchased a new position in Navitas Semiconductor in the 2nd quarter worth about $50,000. Tower Research Capital LLC TRC lifted its stake in Navitas Semiconductor by 241.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,043 shares of the company’s stock valued at $57,000 after acquiring an additional 4,982 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Navitas Semiconductor by 72.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock valued at $63,000 after acquiring an additional 5,550 shares during the last quarter. 46.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on NVTS shares. Morgan Stanley lowered their target price on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price objective on shares of Navitas Semiconductor in a research report on Friday, August 2nd. Needham & Company LLC dropped their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Craig Hallum cut their price objective on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

About Navitas Semiconductor

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.