Navitas Semiconductor (NASDAQ:NVTS) CEO Sells $423,804.63 in Stock

by · The Cerbat Gem

Navitas Semiconductor Corporation (NASDAQ:NVTS – Get Free Report) CEO Chris Allexandre sold 13,323 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 1,072,633 shares of the company’s stock, valued at $34,120,455.73. The trade was a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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%

Shares of NASDAQ NVTS traded down $1.91 on Friday, hitting $26.60. The company had a trading volume of 22,993,232 shares, compared to its average volume of 28,054,346. Navitas Semiconductor Corporation has a 12-month low of $4.95 and a 12-month high of $33.82. The business has a 50 day moving average of $15.46 and a two-hundred day moving average of $11.15. The firm has a market capitalization of $6.22 billion, a P/E ratio of -42.22 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The company’s revenue was down 38.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on NVTS. Needham & Company LLC increased their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Morgan Stanley reissued an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a report on Wednesday, May 6th. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Rosenblatt Securities increased their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Robert W. Baird increased their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Two 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. According to MarketBeat, Navitas Semiconductor currently has an average rating of “Hold” and an average target price of $12.87.

Read Our Latest Report on Navitas Semiconductor

Institutional Trading of Navitas Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the company. DNB Asset Management AS acquired a new stake in Navitas Semiconductor during the fourth 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 worth $23,612,000 after purchasing an additional 1,875,228 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of Navitas Semiconductor during the 3rd quarter worth 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 worth $949,000 after purchasing an additional 124,164 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Navitas Semiconductor during the 4th quarter worth approximately $484,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.

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