Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells $181,600.00 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Richard J. Hendrix sold 40,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $4.54, for a total transaction of $181,600.00. Following the completion of the sale, the director now directly owns 316,709 shares of the company’s stock, valued at approximately $1,437,858.86. The trade was a 11.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Navitas Semiconductor Price Performance

Shares of Navitas Semiconductor stock opened at $4.35 on Wednesday. Navitas Semiconductor Co. has a 1-year low of $1.75 and a 1-year high of $8.44. The stock has a market cap of $812.56 million, a P/E ratio of -10.36 and a beta of 2.37. The stock’s 50 day simple moving average is $2.56 and its 200-day simple moving average is $3.16.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The company had revenue of $21.68 million for the quarter, compared to analyst estimates of $21.93 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts expect that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Rosenblatt Securities reiterated a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Craig Hallum decreased their target price on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Robert W. Baird dropped their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.75.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds have recently modified their holdings of the company. M&T Bank Corp boosted its holdings in Navitas Semiconductor by 29.6% in the 3rd quarter. M&T Bank Corp now owns 159,804 shares of the company’s stock valued at $392,000 after purchasing an additional 36,504 shares during the last quarter. State Street Corp raised its position in shares of Navitas Semiconductor by 4.0% during the 3rd quarter. State Street Corp now owns 5,826,638 shares of the company’s stock valued at $14,275,000 after buying an additional 221,575 shares during the period. Quadrature Capital Ltd acquired a new position in Navitas Semiconductor in the third quarter valued at approximately $172,000. Point72 Asset Management L.P. lifted its holdings in Navitas Semiconductor by 87.5% in the third quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock valued at $19,677,000 after acquiring an additional 3,748,124 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in Navitas Semiconductor in the third quarter worth approximately $195,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

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.