Navitas Semiconductor Co. (NASDAQ:NVTS) CEO Sells $1,076,115.81 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTSGet Rating) CEO Eugene Sheridan sold 263,109 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $4.09, for a total transaction of $1,076,115.81. Following the sale, the chief executive officer now directly owns 2,214,083 shares in the company, valued at approximately $9,055,599.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Eugene Sheridan also recently made the following trade(s):

  • On Friday, November 18th, Eugene Sheridan sold 258,808 shares of Navitas Semiconductor stock. The stock was sold at an average price of $4.38, for a total transaction of $1,133,579.04.

Navitas Semiconductor Stock Up 3.1 %

NASDAQ NVTS opened at $4.65 on Thursday. Navitas Semiconductor Co. has a 52 week low of $3.51 and a 52 week high of $20.10. The business’s fifty day simple moving average is $4.67 and its 200-day simple moving average is $5.27. The firm has a market cap of $584.51 million, a PE ratio of -7.75 and a beta of 2.18.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in shares of Navitas Semiconductor by 220.0% during the 1st quarter. Royal Bank of Canada now owns 9,070 shares of the company’s stock worth $93,000 after acquiring an additional 6,236 shares during the period. Privium Fund Management B.V. purchased a new position in shares of Navitas Semiconductor during the 1st quarter worth $103,000. Beacon Pointe Advisors LLC purchased a new position in shares of Navitas Semiconductor during the 2nd quarter worth $39,000. Verition Fund Management LLC purchased a new position in shares of Navitas Semiconductor during the 2nd quarter worth $40,000. Finally, Legal & General Group Plc purchased a new position in shares of Navitas Semiconductor during the 2nd quarter worth $41,000. Hedge funds and other institutional investors own 22.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NVTS. Rosenblatt Securities dropped their price target on shares of Navitas Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, November 10th. Craig Hallum dropped their price target on shares of Navitas Semiconductor to $6.00 in a research note on Tuesday, November 15th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Navitas Semiconductor from $7.00 to $6.00 in a research note on Thursday, November 10th. Needham & Company LLC lifted their target price on shares of Navitas Semiconductor from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, August 16th. Finally, Robert W. Baird lowered their target price on shares of Navitas Semiconductor from $12.00 to $8.00 in a research note on Thursday, November 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.17.

About Navitas Semiconductor

(Get Rating)

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride (GaN) power integrated circuits used in power conversion and charging. It operates in the United States, Ireland, Germany, Italy, Belgium, China, Taiwan, and the Philippines. The company was incorporated in 2013 and is based in El Segundo, California.

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