Navitas Semiconductor Co. (NASDAQ:NVTS) COO Daniel M. Kinzer Sells 150,000 Shares

Navitas Semiconductor Co. (NASDAQ:NVTS) COO Daniel M. Kinzer sold 150,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $3.10, for a total value of $465,000.00. Following the transaction, the chief operating officer now directly owns 4,388,353 shares in the company, valued at approximately $13,603,894.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Navitas Semiconductor Stock Up 5.8 %

Shares of Navitas Semiconductor stock traded up $0.17 during trading on Thursday, hitting $3.10. 3,113,251 shares of the stock traded hands, compared to its average volume of 2,667,899. The stock has a market cap of $567.61 million, a price-to-earnings ratio of -6.08 and a beta of 2.42. Navitas Semiconductor Co. has a 52 week low of $2.87 and a 52 week high of $8.95. The firm’s fifty day moving average is $3.70 and its 200-day moving average is $4.33.

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

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors have recently bought and sold shares of the stock. Atria Wealth Solutions Inc. purchased a new stake in Navitas Semiconductor during the 4th quarter valued at about $81,000. DRW Securities LLC purchased a new stake in Navitas Semiconductor in the 2nd quarter worth approximately $46,000. Wedbush Securities Inc. purchased a new stake in Navitas Semiconductor in the 2nd quarter worth approximately $49,000. Algert Global LLC purchased a new stake in Navitas Semiconductor in the 2nd quarter worth approximately $50,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Navitas Semiconductor by 72.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock worth $63,000 after buying an additional 5,550 shares during the period. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on NVTS. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price objective on shares of Navitas Semiconductor in a research note on Friday, August 2nd. Jefferies Financial Group reiterated a “hold” rating and set a $4.00 price objective (down from $10.00) on shares of Navitas Semiconductor in a research note on Monday, May 13th. Deutsche Bank Aktiengesellschaft decreased their target price on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Robert W. Baird decreased their target price on Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Finally, Morgan Stanley decreased their target price on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Navitas Semiconductor currently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

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.