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In a recent transaction, Eugene Sheridan, the President and CEO of Navitas Semiconductor Corp (NASDAQ:NVTS), sold a significant portion of his holdings in the company. The transaction comes as the stock has shown remarkable performance, with InvestingPro data showing a 124% return over the past six months and the company reaching a market capitalization of $1.18 billion. On May 23, 2025, Sheridan sold 2,155,783 shares of Class A Common Stock at a weighted-average price of $4.49 per share. This transaction amounted to a total value of approximately $9.68 million.
Following the sale, Sheridan holds no direct shares in the company. However, he maintains indirect ownership through various trusts. Specifically, the Eugene and Melissa Sheridan Trust holds 1,226,044 shares, the Lolas Trust possesses 800,000 shares, and the GaNFast Trust owns 761,332 shares. Sheridan disclaims beneficial ownership of the shares held by the Lolas Trust. According to InvestingPro analysis, the stock currently trades at $6.16 and appears overvalued based on its Fair Value assessment.
This transaction was executed in multiple trades with prices ranging from $4.27 to $4.88. The weighted-average price was reported as part of the transaction details. InvestingPro subscribers can access 14 additional key insights about NVTS, including detailed financial health metrics and comprehensive analysis through the Pro Research Report, which provides actionable intelligence for smarter investing decisions.
In other recent news, Navitas Semiconductor reported its first-quarter 2025 earnings, meeting market expectations with a loss per share of $0.06 and revenue of $14 million. The company highlighted its strategic focus on gallium nitride (GaN) and silicon carbide technologies, which are expected to drive growth in sectors such as solar and electric vehicles later in 2025. Navitas also announced a collaboration with NVIDIA (NASDAQ:NVDA) to develop an 800V high-voltage direct current (HVDC) architecture for AI data centers, potentially enhancing energy efficiency and reducing copper usage. In a move to bolster its leadership, Navitas appointed Cristiano Amoruso to its board of directors, leveraging his experience to support the company’s growth in data centers and solar power. Meanwhile, Needham reduced Navitas’ price target to $3.00, maintaining a Buy rating, citing concerns over tariff volatility and a postponed solar opportunity. The firm noted that Navitas’ supplier footprint exposes it to trade uncertainties, leading to a more conservative growth outlook for the coming years. Despite these challenges, Navitas remains optimistic about its future, with plans to resume growth later in 2025, driven by strong design wins and technology advancements.
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