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Richard J. Hendrix, a director at Navitas Semiconductor Corp (NASDAQ:NVTS), has sold a significant portion of his company’s stock, according to a recent SEC filing. On May 28, Hendrix sold a total of 25,000 shares of Navitas Class A Common Stock. The transactions were executed at prices ranging from $6.39 to $6.40 per share, amounting to a total value of $159,763. The stock has since rallied significantly, with InvestingPro data showing a remarkable 126% gain year-to-date, now trading at $8.09.
Following these sales, Hendrix retains direct ownership of 69,739 shares. Additionally, he holds indirect ownership of 1,263,000 shares through Live Oak Sponsor Partners II, LLC, and 176,709 shares through RJH Management Co., LLC.
The filing also noted that this disclosure was filed after the reporting deadline due to an administrative error by the issuer, rather than any fault of Hendrix.
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 GaN and silicon carbide technologies, which positions it for future growth despite current market challenges. Navitas also announced a collaboration with NVIDIA (NASDAQ:NVDA) to develop an 800V high-voltage direct current architecture for AI data centers, aiming to improve power efficiency and reduce maintenance costs. This partnership leverages Navitas’ GaNFast and GeneSiC technologies, underscoring its role in advancing power delivery solutions.
Additionally, Navitas Semiconductor appointed Cristiano Amoruso to its board of directors, strengthening its corporate governance as the company seeks to expand in sectors such as data centers and electric vehicles. Meanwhile, Needham adjusted its price target for Navitas to $3.00, maintaining a Buy rating, reflecting concerns about tariff volatility and a postponed solar opportunity. Despite these challenges, Navitas remains optimistic about growth in late 2025, driven by demand in solar and EV applications.
The company has also been proactive in addressing tariff-related risks, particularly in its silicon carbide segment, which could impact its revenue if the ’country of origin’ designation changes. However, Navitas continues to focus on its strong design wins and technological advances to drive growth in the coming years.
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