Shares of Navitas Semiconductor plunged 10.1% to $23.92 on Monday as investors continued to absorb a massive insider sale that has now erased roughly a quarter of the stock's value in four trading days. Director Ranbir Singh executed two open-market sales totaling 3,724,176 shares across May 27–28, 2026, at weighted average prices of $29.29 and $28.72 per share — netting an estimated $109 million. The sell-off lands just days after NVTS touched its all-time high of $33.82 on May 26.
A Director Cashed Out a Sixth of His Stake Near the Peak
The sale represented a 16.39% decrease in Singh's position.
He still directly holds roughly 14.9 million shares , so this wasn't an exit — but the timing, right at record prices, sends a clear message that at least one insider thought the stock had run ahead of fundamentals. NVTS had skyrocketed roughly 110% in less than four months , fueled by AI data-center hype and short-covering.
The Business Is Growing but Still Deeply Unprofitable
Q1 2026 revenue came in at $8.6 million — up 18% sequentially but down from $14.0 million a year earlier — as the company pivots toward high-power markets like AI infrastructure.
The non-GAAP operating loss was still $11.7 million , and analysts expect Navitas to remain unprofitable until at least 2030 . At $23.92, the stock still commands a market cap above $5.5 billion on roughly $35 million in annualized revenue — a staggering premium.
A Fresh $122 Million Stock Sale Adds to the Dilution Worry
Just weeks earlier, Navitas sold 6.53 million new shares through an at-the-market program, raising about $122 million. Combined with Singh's disposal, investors are staring at nearly 10.3 million extra shares hitting the market in May alone — against a base of roughly 233.7 million shares outstanding . That compounds selling pressure and raises questions about whether insiders and the company itself viewed recent prices as unsustainably high.
Analyst Price Targets Sit Far Below the Current Price
Morgan Stanley keeps an Underweight rating with a $13.70 target , while Needham's Buy target is just $21 . Even bulls see limited upside from here, and the gap between Wall Street's consensus and the trading price underscores the speculative premium baked in. With earnings not due until August, the stock may need fresh catalysts to stabilize — and the insider selling overhang could take weeks to digest.