Insider Selling: Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells 87,060 Shares of Stock

Navitas Semiconductor Co. (NASDAQ:NVTSGet Free Report) Director Dipender Saluja sold 87,060 shares of Navitas Semiconductor stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.56, for a total transaction of $396,993.60. Following the completion of the transaction, the director now directly owns 6,118,539 shares in the company, valued at $27,900,537.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dipender Saluja also recently made the following trade(s):

  • On Monday, June 10th, Dipender Saluja sold 87,059 shares of Navitas Semiconductor stock. The stock was sold at an average price of $4.45, for a total transaction of $387,412.55.

Navitas Semiconductor Price Performance

NASDAQ:NVTS opened at $4.55 on Tuesday. The firm’s 50-day moving average price is $4.18 and its 200-day moving average price is $5.62. The company has a market capitalization of $833.11 million, a PE ratio of -8.92 and a beta of 2.44. Navitas Semiconductor Co. has a 1-year low of $3.48 and a 1-year high of $11.16.

Navitas Semiconductor (NASDAQ:NVTSGet Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The business had revenue of $23.18 million during the quarter, compared to analysts’ expectations of $23.15 million. Navitas Semiconductor had a negative return on equity of 21.22% and a negative net margin of 97.75%. Equities analysts anticipate that Navitas Semiconductor Co. will post -0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NVTS shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of Navitas Semiconductor in a research note on Friday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Needham & Company LLC reduced their price objective on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Robert W. Baird reduced their price objective on shares of Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $4.00 price objective (down from $10.00) on shares of Navitas Semiconductor in a research report on Monday, May 13th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.41.

Read Our Latest Research Report on NVTS

Hedge Funds Weigh In On Navitas Semiconductor

A number of hedge funds have recently bought and sold shares of NVTS. Jump Financial LLC boosted its stake in Navitas Semiconductor by 71.4% in the 3rd quarter. Jump Financial LLC now owns 19,369 shares of the company’s stock worth $135,000 after purchasing an additional 8,069 shares in the last quarter. Barclays PLC boosted its stake in Navitas Semiconductor by 898.2% in the 3rd quarter. Barclays PLC now owns 391,238 shares of the company’s stock worth $2,720,000 after purchasing an additional 352,044 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Navitas Semiconductor by 7.0% in the 3rd quarter. New York State Common Retirement Fund now owns 888,061 shares of the company’s stock worth $6,172,000 after purchasing an additional 58,444 shares in the last quarter. Swiss National Bank boosted its stake in Navitas Semiconductor by 16.6% in the 3rd quarter. Swiss National Bank now owns 265,400 shares of the company’s stock worth $1,845,000 after purchasing an additional 37,700 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Navitas Semiconductor by 37.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 905,524 shares of the company’s stock worth $6,293,000 after purchasing an additional 248,143 shares in the last quarter. Institutional investors own 46.14% of the company’s stock.

About Navitas Semiconductor

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Navitas Semiconductor (NASDAQ:NVTS)

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