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Navitas Semiconductor Corp (NASDAQ:NVTS) director Richard J. Hendrix recently sold shares of the company’s Class A Common Stock, according to a filing with the Securities and Exchange Commission. The transaction, which took place on May 27, involved the sale of 32,725 shares at an average weighted price of $6.376 per share, totaling approximately $208,654. The shares were sold in multiple trades with prices ranging from $6.060 to $7.070. The timing is notable as InvestingPro data shows the stock has gained 96% over the past six months, with technical indicators suggesting overbought conditions.
Following this transaction, Hendrix holds 143,984 shares indirectly through RJH Management Co., LLC. Additionally, Hendrix has indirect ownership of 1,263,000 shares through Live Oak Sponsor Partners II, LLC, and directly holds 94,739 shares, which include 31,460 shares underlying unvested restricted stock units. These units are subject to vesting at the company’s 2025 annual stockholders’ meeting, contingent upon Hendrix’s continued service on the board. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access detailed research reports covering 1,400+ US stocks.
The transactions reflect Hendrix’s ongoing management of his holdings in Navitas Semiconductor, a company known for its advanced semiconductor technology. The company maintains a strong balance sheet with more cash than debt and a healthy current ratio of 5.61, though analysts anticipate a sales decline in the current year.
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 revenue of $14 million, both matching analyst forecasts. Navitas has also announced a significant collaboration with NVIDIA (NASDAQ:NVDA) to develop an advanced 800V high-voltage direct current architecture for AI data centers, which could enhance power efficiency and reduce copper usage. Additionally, the company appointed Cristiano Amoruso to its board of directors, bringing experience from his previous roles to support Navitas’ growth in sectors like data centers and electric vehicles.
Needham has adjusted its price target for Navitas Semiconductor to $3.00 from $4.00, maintaining a Buy rating. This revision follows Navitas’ strong earnings report but reflects concerns about tariff volatility and a delayed solar opportunity. The company’s management noted that tariffs primarily affect its Silicon Carbide segment, with potential broader implications if disputes escalate. Navitas remains optimistic about its future growth, anticipating increased demand in solar and EV applications later in 2025. The company continues to focus on its GaN and silicon carbide technologies, positioning itself for future market opportunities.
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