Traders Purchase Large Volume of Navitas Semiconductor Call Options (NASDAQ:NVTS)

Navitas Semiconductor Co. (NASDAQ:NVTS) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 10,631 call options on the stock. This represents an increase of approximately 799% compared to the typical daily volume of 1,183 call options.

Insider Transactions at Navitas Semiconductor

In related news, CEO Eugene Sheridan sold 453,190 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the transaction, the chief executive officer now owns 2,608,441 shares in the company, valued at $7,903,576.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Eugene Sheridan sold 453,190 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the completion of the transaction, the chief executive officer now owns 2,608,441 shares in the company, valued at $7,903,576.23. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Daniel M. Kinzer sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total transaction of $465,000.00. Following the completion of the sale, the chief operating officer now owns 4,388,353 shares of the company’s stock, valued at approximately $13,603,894.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 916,911 shares of company stock worth $2,915,664. Corporate insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. bought a new position in Navitas Semiconductor in the 4th quarter worth approximately $81,000. Russell Investments Group Ltd. boosted its position in shares of Navitas Semiconductor by 25.0% in the fourth quarter. Russell Investments Group Ltd. now owns 65,328 shares of the company’s stock worth $527,000 after purchasing an additional 13,081 shares during the period. Victory Capital Management Inc. boosted its position in shares of Navitas Semiconductor by 23.9% in the fourth quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock worth $128,000 after purchasing an additional 3,052 shares during the period. TCG Advisory Services LLC bought a new position in shares of Navitas Semiconductor during the fourth quarter worth $132,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Navitas Semiconductor by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 940,048 shares of the company’s stock worth $7,586,000 after acquiring an additional 34,524 shares during the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Down 2.3 %

Shares of NASDAQ NVTS opened at $2.52 on Thursday. Navitas Semiconductor has a 12-month low of $2.38 and a 12-month high of $8.85. The company has a market cap of $461.41 million, a price-to-earnings ratio of -4.94 and a beta of 2.42. The firm’s 50-day simple moving average is $3.60 and its 200 day simple moving average is $4.21.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The firm had revenue of $20.50 million for the quarter, compared to analyst estimates of $20.01 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts expect that Navitas Semiconductor will post -0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NVTS shares. Robert W. Baird lowered their price target on shares of Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Craig Hallum dropped their price objective on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC dropped their price objective on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Morgan Stanley dropped their price objective on shares of Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $4.00 price objective (down previously from $10.00) on shares of Navitas Semiconductor in a report on Monday, May 13th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.