Beamr video compression achieves up to 50% improvement for AVs
Brian Long, a director at Navitas Semiconductor Corp (NASDAQ:NVTS), recently sold 47,189 shares of the company’s Class A Common Stock. The shares were sold at a price of $2.36 each, amounting to a total transaction value of $111,366. Following this transaction, Long holds 31,460 shares directly. Additionally, he indirectly holds 8,876,500 shares through Atlantic Bridge III LP, where he serves as managing director. This sale was disclosed in a recent SEC filing, providing investors with an update on insider activities at the semiconductor company.The timing of this insider sale comes as Navitas faces challenging market conditions, with the stock down over 45% in the past year. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 5.69 and holds more cash than debt on its balance sheet. While the company’s financial health is rated as FAIR, investors should note that analysts do not expect profitability this year. For deeper insights into NVTS’s valuation and growth prospects, including 10 additional exclusive ProTips, consider exploring the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Navitas Semiconductor reported its Q4 2024 earnings, revealing a revenue of $18 million, which fell short of the expected $23.99 million. Despite meeting EPS expectations with a loss of $0.06, the revenue miss has been a point of concern for investors. The company, however, achieved a 5% growth in full-year revenue, reaching $83.3 million in 2024. Analysts from Baird and Jefferies have adjusted their price targets for Navitas, with Baird reducing it to $4.00 while maintaining an Outperform rating, and Jefferies lowering it to $2.50 with a Hold recommendation. Navitas has also revised its bylaws to change the deadline for stockholder director nominations, reducing the notice period from 90 to 60 days. The company has been facing challenges with excess inventory in its EV, solar, and industrial segments, impacting its gross margins. Despite these challenges, Navitas remains focused on growth in the data center sector, which has shown significant design wins and is expected to drive future expansion. The company anticipates a recovery starting in Q2 2025 and aims to achieve positive EBITDA by 2026.
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