Navitas Semiconductor director Richard Hendrix sells $323,040 in shares

Richard J. Hendrix, a director at Navitas Semiconductor Corp (NASDAQ:NVTS), just lately executed a big inventory sale. Hendrix offered 80,000 shares of Navitas’ Class A Widespread Inventory on December 6, 2024, at a median worth of $4.038 per share, amounting to a complete transaction worth of $323,040. The sale comes because the inventory has proven sturdy momentum, with a 37% return over the previous week, although buying and selling at $3.76, it stays 55% under its 52-week excessive of $8.44.

Following this transaction, Hendrix holds a complete of 356,709 shares not directly via RJH Administration Co., LLC, and 94,739 shares straight, which incorporates 31,460 shares underlying unvested restricted inventory items topic to vesting on the firm’s 2025 annual stockholders’ assembly. Moreover, he maintains oblique possession of 1,263,000 shares via Dwell Oak Sponsor Companions II, LLC, 42,366 shares by way of Dwell Oak Service provider Companions, LLC, and 71,807 shares via particular person retirement accounts. Based on InvestingPro, the corporate maintains sturdy monetary well being with a present ratio of 5.59, indicating stable liquidity, although it is at the moment not worthwhile.

These transactions present a glimpse into the director’s present funding place in Navitas Semiconductor, an organization identified for its improvements in semiconductor know-how. With a market cap of $705 million and income development of 39% within the final twelve months, InvestingPro evaluation signifies the inventory is at the moment pretty valued, with 8 extra key insights obtainable to subscribers.

In different current information, Navitas Semiconductor has reported important developments. The corporate introduced a document Q3 income of $21.7 million, regardless of an operational lack of $12.7 million. In response to those monetary challenges, Navitas has initiated a value discount technique, together with a 14% workforce discount, set to lower working bills by roughly $2 million every quarter.

Navitas has additionally made strategic strikes, together with the appointment of Dr. Ranbir Singh, a silicon carbide (SiC) know-how professional, to its board of administrators. This transfer is anticipated to bolster Navitas’s development in markets similar to synthetic intelligence, electrical autos, and cell know-how. The corporate additionally launched a brand new low-voltage GaN product and entered a strategic partnership with Infineon (OTC:IFNNY) for twin sourcing.

Analysts’ outlook on Navitas has been combined. Needham maintained its Purchase ranking on Navitas however decreased the worth goal to $4.00 from $5.00. Baird additionally adjusted its outlook, decreasing the worth goal to $5.00 from the earlier $7.00, whereas sustaining an Outperform ranking. Each companies anticipate a income rebound for Navitas within the upcoming years. These are among the many current developments at Navitas Semiconductor.

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