Bullish indicating open at $55-$60, IPO prices at $37
Eugene Sheridan, President and CEO of Navitas Semiconductor Corp (NASDAQ:NVTS), recently sold a substantial portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Sheridan sold a total of 600,000 shares of Class A Common Stock in multiple transactions on June 11 and June 13, 2025. The transactions were executed at prices ranging from $7.4925 to $8.5401 per share, amounting to approximately $4.76 million in total. The timing is notable as InvestingPro data shows the stock has surged over 112% in the past six months, with particularly strong momentum in recent weeks, gaining 18% in the last week alone.
These sales were conducted across two trusts: the GaNFast Trust and the Lolas Trust. Following these transactions, Sheridan retains ownership of 461,332 shares through the GaNFast Trust and 500,000 shares through the Lolas Trust. Additionally, Sheridan holds 1,226,044 shares through the Eugene and Melissa Sheridan Trust.
Sheridan’s recent sales represent a significant divestment, though he continues to hold a substantial stake in the company.
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 is collaborating with NVIDIA (NASDAQ:NVDA) to develop an 800V high-voltage direct current architecture aimed at improving energy efficiency in AI data centers. This partnership leverages Navitas’ GaNFast and GeneSiC technologies and is expected to significantly reduce copper usage and maintenance costs. In corporate governance, Navitas appointed Cristiano Amoruso to its board of directors, anticipating his experience will aid in expanding the company’s reach in data centers and electric vehicles.
Navitas also experienced a price target reduction by Needham, who adjusted their forecast to $3.00 from $4.00, while maintaining a Buy rating. This decision was influenced by concerns over tariff volatility and a postponed solar opportunity. Despite these challenges, Navitas continues to see potential in its GaN and silicon carbide technologies, especially with recent innovations like the bidirectional GaN IC. The company maintains a strong cash position with $75 million in cash and no debt, providing a solid foundation for future growth.
Navitas has also been active in expanding its market reach, with significant design wins in AI data centers, solar microinverters, and electric vehicles. The company anticipates growth in late 2025, driven by increased demand in these sectors. Needham notes that Navitas’ exposure to international trade uncertainties is higher than some peers, prompting a cautious outlook for 2026. Nonetheless, Navitas remains focused on leveraging its technological advancements to drive growth in the coming years.
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