Navitas Directors File $90 Million Share Sale as Craig-Hallum Conference and ATM Program Stir Investor Questions
Published on 05/28/2026 at 18:13 | Redaktion boerse-global.de
Two Navitas Semiconductor directors have disclosed plans to sell a combined 3.09 million shares worth roughly $90.6 million, casting a long shadow over the company’s concurrent push to court institutional investors and raise fresh capital.
The bulk of the selling pressure comes from director Ranbir Singh, who filed a Form 144 with the SEC on May 27 indicating his intention to offload approximately 3.06 million shares valued at nearly $89.6 million. Those shares originated from a merger transaction dated July 28, 2025, making the planned sale a post-acquisition monetization rather than a routine exercise of compensation equity. Fellow director Richard Hendrix filed to sell about 33,600 shares worth just under $1 million, which were awarded as restricted stock in three tranches between November 2022 and June 2025. Combined, the filings represent roughly 1.3% of Navitas’s 233.7 million outstanding shares — a volume that could weigh on near-term trading.
Form 144 is a notice of selling intent, not a confirmation of executed trades. Affiliates must file when planned sales within a three-month window exceed 5,000 shares or $50,000 in proceeds. Both filings note that no shares were sold in the preceding three months. Whether the sales will be fully completed remains open.
Should investors sell immediately? Or is it worth buying Navitas Semiconductor Corporation?
The insider activity lands just as Navitas management takes the stage at the Craig-Hallum Institutional Investor Conference in Minneapolis, where CEO Chris Allexandre and CFO Tonya Stevens are holding one-on-one meetings with analysts and investors. The timing, however, is complicated by another development: Navitas closed an at-the-market equity program on May 11 for up to $125 million, with Craig-Hallum and UBS Securities acting as sales agents. Craig-Hallum is the same firm hosting the conference, though the company has said there is no direct link between the event and the capital measure. Navitas is not obligated to sell shares under the ATM program.
The stock, which ended the regular session near $28.88 on the conference day — down roughly $3 — has been under pressure from weak fundamentals. First-quarter 2026 revenue came in at $8.6 million, a sequential improvement from $7.3 million in the previous quarter but a sharp decline from $14.0 million in the year-ago period. The company posted an operating loss of $27.8 million. Cash stood at $221 million as of March 31, down from $236.9 million at the end of 2025. Management has guided second-quarter revenue of $10.0 million with a non-GAAP gross margin of roughly 39.25%.
Amid the financial strain, Navitas continues to advance its gallium nitride technology ecosystem. On May 25, Cyient Semiconductors announced it had co-developed India’s first GaN power IC family using Navitas’s technology. Cyient secured about $10 million in equity financing at a valuation of roughly $500 million and roughly $20 million in structured debt. Cyient licenses Navitas GaN technology for the Indian market and will serve as a second source for selected products targeting AI data centers, telecom, and electric mobility — expanding the reach of the GaNFast platform without requiring Navitas to deploy its own capital.
The next investor touchpoint comes June 3, when Allexandre and Stevens appear at Evercore’s Global TMT Conference in San Francisco for a fireside chat at 2:10 p.m. local time, broadcast live and on replay. That session may offer clarity on order visibility and the pace of the high-performance transition, even as the insider filings and equity program keep the market guessing about near-term conviction.
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