Insider Selling: Navitas Semiconductor Co. (NASDAQ:NVTS) CEO Sells 16,866 Shares of Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) CEO Eugene Sheridan sold 16,866 shares of Navitas Semiconductor stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $8.65, for a total value of $145,890.90. Following the completion of the transaction, the chief executive officer now directly owns 844,662 shares in the company, valued at $7,306,326.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, August 30th, Eugene Sheridan sold 302,159 shares of Navitas Semiconductor stock. The shares were sold at an average price of $8.30, for a total transaction of $2,507,919.70.
• On Monday, August 28th, Eugene Sheridan sold 306,241 shares of Navitas Semiconductor stock. The stock was sold at an average price of $8.32, for a total transaction of $2,547,925.12.
• On Wednesday, August 2nd, Eugene Sheridan sold 23,166 shares of Navitas Semiconductor stock. The shares were sold at an average price of $10.04, for a total transaction of $232,586.64.
• On Wednesday, July 5th, Eugene Sheridan sold 32,050 shares of Navitas Semiconductor stock. The shares were sold at an average price of $10.68, for a total value of $342,294.00.
• On Wednesday, June 14th, Eugene Sheridan sold 24,374 shares of Navitas Semiconductor stock. The stock was sold at an average price of $9.99, for a total value of $243,496.26.

Navitas Semiconductor Trading Down 3.5 %

Shares of NASDAQ NVTS opened at $8.25 on Friday. The business has a 50 day simple moving average of $9.38 and a 200-day simple moving average of $8.02. Navitas Semiconductor Co. has a twelve month low of $3.11 and a twelve month high of $11.16.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Monday, August 14th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.06. Navitas Semiconductor had a negative net margin of 294.91% and a negative return on equity of 21.11%. The firm had revenue of $18.06 million during the quarter, compared to analyst estimates of $16.52 million. Research analysts predict that Navitas Semiconductor Co. will post -0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NVTS shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Navitas Semiconductor from $8.00 to $9.00 in a research report on Tuesday, May 16th. Needham & Company LLC boosted their price target on Navitas Semiconductor from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Robert W. Baird raised their price objective on Navitas Semiconductor from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, August 16th. Morgan Stanley assumed coverage on Navitas Semiconductor in a research note on Monday, August 28th. They set an “equal weight” rating and a $9.20 target price for the company. Finally, Rosenblatt Securities restated a “buy” rating and issued a $12.00 price target on shares of Navitas Semiconductor in a research note on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.89.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of NVTS. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Navitas Semiconductor during the second quarter valued at approximately $30,000. Mariner LLC acquired a new position in Navitas Semiconductor during the 4th quarter valued at approximately $35,000. Green Square Capital Advisors LLC bought a new position in Navitas Semiconductor during the 4th quarter worth $38,000. SVB Wealth LLC acquired a new stake in Navitas Semiconductor in the fourth quarter worth $39,000. Finally, Verition Fund Management LLC bought a new stake in Navitas Semiconductor in the second quarter valued at $40,000. Institutional investors and hedge funds own 37.45% of the company’s stock.

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.