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Navitas Semiconductor Co. (NASDAQ:NVTS – Get Free Report) Director Richard J. Hendrix sold 32,725 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $6.38, for a total transaction of $208,785.50. Following the transaction, the director now owns 143,984 shares in the company, valued at approximately $918,617.92. This trade represents a 18.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Navitas Semiconductor Trading Down 5.6%
NVTS stock opened at $5.09 on Monday. The company has a market cap of $976.30 million, a P/E ratio of -12.12 and a beta of 2.24. Navitas Semiconductor Co. has a 52 week low of $1.52 and a 52 week high of $7.53. The company’s 50-day moving average price is $2.38 and its 200 day moving average price is $2.80.
Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $14.02 million for the quarter, compared to the consensus estimate of $14.01 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The firm’s revenue was down 39.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. On average, equities research analysts expect that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.
Institutional Trading of Navitas Semiconductor
A number of institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its holdings in shares of Navitas Semiconductor by 52.7% in the fourth quarter. American Century Companies Inc. now owns 15,704 shares of the company’s stock valued at $56,000 after purchasing an additional 5,419 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Navitas Semiconductor by 125.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock valued at $37,000 after purchasing an additional 5,726 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Navitas Semiconductor by 7.6% in the first quarter. 180 Wealth Advisors LLC now owns 97,602 shares of the company’s stock valued at $200,000 after purchasing an additional 6,920 shares in the last quarter. Goodman Financial Corp purchased a new stake in shares of Navitas Semiconductor in the fourth quarter valued at about $36,000. Finally, Caption Management LLC purchased a new stake in shares of Navitas Semiconductor in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on NVTS shares. Needham & Company LLC dropped their price target on shares of Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Robert W. Baird dropped their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Rosenblatt Securities boosted their price target on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley lowered shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $2.10 to $1.50 in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.79.
Read Our Latest Stock Report on Navitas Semiconductor
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.
Further Reading
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