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In recent transactions involving Navitas Semiconductor Corp (NASDAQ:NVTS), which has seen its stock surge over 60% in the past six months and maintains a market capitalization of $1.16 billion, Ranbir Singh, a director and significant shareholder, executed substantial stock sales. On June 4, Singh, through SiCPower, LLC, sold 2,000,000 shares of Navitas stock at a weighted average price of $6.7563. These shares were sold in multiple trades with prices ranging from $6.5350 to $6.9500. Following this transaction, SiCPower, LLC retains ownership of 22,390,042 shares.
On June 5, Singh personally sold an additional 16,377 shares at a price of $6.4301, resulting in zero shares remaining under his direct ownership. The total value of these sales amounts to approximately $13.6 million, with the transaction prices spanning from $6.4301 to $6.7563.
In other recent news, Navitas Semiconductor reported first-quarter 2025 earnings that met market expectations, with a loss per share of $0.06 and revenue of $14 million. The company also announced a collaboration with NVIDIA (NASDAQ:NVDA) to develop an 800V high-voltage direct current architecture for AI data centers, leveraging its GaNFast and GeneSiC technologies. This partnership aims to improve energy efficiency and reduce copper usage in data centers. Furthermore, Navitas welcomed Cristiano Amoruso to its board of directors, expecting his experience to drive growth in sectors like data centers and electric vehicles.
Meanwhile, Needham adjusted its price target for Navitas to $3.00 from $4.00, maintaining a Buy rating due to concerns about tariff volatility and a delayed solar opportunity. The impact of tariffs is mainly on the Silicon Carbide segment, with broader implications possible if disputes escalate. Navitas’ strategic focus on GaN and silicon carbide technologies continues to position it for future growth, despite current market challenges. The company remains optimistic about growth in late 2025, driven by demand in solar and EV applications.
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