David Moxam Sells 33,000 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) Stock

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

Navitas Semiconductor Stock Up 1.9 %

Shares of NASDAQ:NVTS traded up $0.06 during trading on Monday, hitting $3.16. 2,607,985 shares of the company traded hands, compared to its average volume of 2,706,009. The business’s fifty day moving average is $3.95 and its 200-day moving average is $4.49. The stock has a market capitalization of $578.60 million, a price-to-earnings ratio of -6.08 and a beta of 2.42. Navitas Semiconductor Co. has a one year low of $2.87 and a one year high of $8.95.

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

Analyst Ratings Changes

NVTS has been the subject of several research analyst reports. Robert W. Baird decreased their price target on shares of Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Craig Hallum dropped their target price on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $4.00 price target (down previously from $10.00) on shares of Navitas Semiconductor in a research report on Monday, May 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Morgan Stanley reduced their target price on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Navitas Semiconductor presently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

Institutional Trading of Navitas Semiconductor

Several hedge funds have recently bought and sold shares of NVTS. Kodai Capital Management LP acquired a new stake in shares of Navitas Semiconductor in the fourth quarter valued at approximately $31,869,000. Intrinsic Edge Capital Management LLC raised its stake in Navitas Semiconductor by 91.6% during the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock valued at $21,932,000 after acquiring an additional 1,299,524 shares in the last quarter. Masters Capital Management LLC boosted its position in Navitas Semiconductor by 90.0% during the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $7,467,000 after acquiring an additional 900,000 shares during the period. Squarepoint Ops LLC bought a new position in shares of Navitas Semiconductor in the second quarter worth $2,364,000. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Navitas Semiconductor during the second quarter valued at about $2,151,000. 46.14% of the stock is currently owned by institutional investors.

Navitas Semiconductor Company Profile

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.