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In recent transactions reported to the Securities and Exchange Commission, Brian Long, a director at Navitas Semiconductor Corp (NASDAQ:NVTS), sold shares totaling approximately $19.76 million. The sales, which occurred over two days, involved Class A Common Stock sold at prices ranging from $6.5932 to $6.8657 per share. The timing of these sales coincides with the stock’s strong performance, having gained over 60% in the past six months and trading near its 52-week high of $7.53.
On June 4, Long sold 2,756,609 shares at an average price of $6.5932, followed by the sale of an additional 198,900 shares at an average price of $6.8657. The following day, June 5, he sold 31,460 shares at an average price of $6.83. These transactions reduced Long’s direct and indirect holdings in the company, with the majority of shares sold being held through Atlantic Bridge III LP, where Long serves as managing director. According to InvestingPro, Navitas currently maintains a market capitalization of $1.16 billion and shows a FAIR financial health score, with 12 additional key insights available to subscribers.
In other recent news, Navitas Semiconductor reported its first-quarter 2025 earnings, aligning with market expectations. The company recorded a loss per share of $0.06 and achieved revenue of $14 million, consistent with analyst forecasts. Navitas has also announced a strategic collaboration with NVIDIA (NASDAQ:NVDA) to develop an advanced 800V high-voltage direct current architecture for AI data centers, leveraging its GaNFast and GeneSiC technologies. This partnership aims to enhance power efficiency and reduce copper usage in data centers, positioning Navitas as a significant player in the industry.
Additionally, Navitas has appointed Cristiano Amoruso to its board of directors, bringing his experience from Suniva, Inc. and Lion Point Capital, L.P. to bolster the company’s growth in sectors like data centers and electric vehicles. Meanwhile, Needham has adjusted Navitas’ price target to $3.00 from $4.00, maintaining a Buy rating due to concerns about tariff volatility and a postponed solar opportunity. The analysts at Needham noted that Navitas’ supplier footprint exposes it to trade uncertainties, prompting a cautious outlook for future growth projections.
Despite these challenges, Navitas continues to innovate, launching the industry’s first bidirectional GaN IC and emphasizing its strategic focus on GaN and silicon carbide technologies. The company anticipates growth in late 2025, driven by demand in solar and EV applications. Navitas’ strategic initiatives and technological advancements suggest a strong potential for growth, although the ongoing tariff situation remains a concern for future operations.
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