Navitas Semiconductor Co. (NASDAQ:NVTS) Director David Moxam Sells 33,000 Shares

Navitas Semiconductor Co. (NASDAQ:NVTS) Director David Moxam sold 33,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $103,290.00. Following the completion of the sale, the director now directly owns 867,848 shares in the company, valued at $2,716,364.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Navitas Semiconductor Stock Performance

NVTS opened at $3.16 on Tuesday. The stock has a fifty day moving average of $3.92 and a 200-day moving average of $4.47. Navitas Semiconductor Co. has a fifty-two week low of $2.87 and a fifty-two week high of $8.95. The company has a market capitalization of $578.60 million, a P/E ratio of -6.20 and a beta of 2.42.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. The business had revenue of $20.50 million during the quarter, compared to the consensus estimate of $20.01 million. During the same period in the prior year, the firm earned ($0.12) EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities research analysts predict that Navitas Semiconductor Co. will post -0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Navitas Semiconductor

A number of large investors have recently added to or reduced their stakes in NVTS. Point72 Asset Management L.P. raised its holdings in Navitas Semiconductor by 2,656.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock valued at $16,834,000 after acquiring an additional 4,127,940 shares in the last quarter. Algert Global LLC acquired a new position in Navitas Semiconductor in the second quarter valued at about $50,000. The Manufacturers Life Insurance Company raised its stake in Navitas Semiconductor by 16.2% in the second quarter. The Manufacturers Life Insurance Company now owns 71,998 shares of the company’s stock valued at $283,000 after purchasing an additional 10,024 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Navitas Semiconductor during the second quarter worth about $2,364,000. Finally, Masters Capital Management LLC grew its stake in Navitas Semiconductor by 90.0% during the second quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $7,467,000 after buying an additional 900,000 shares in the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NVTS shares. Needham & Company LLC lowered their price target on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Craig Hallum dropped their price target on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Robert W. Baird reduced their price objective on shares of Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $4.00 price objective (down from $10.00) on shares of Navitas Semiconductor in a report on Monday, May 13th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.00.

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.