Brian Long, Navitas Semiconductor Corporation (NVTS +1.27%) director, executed a two-day open-market disposition of 164,184 shares between Dec. 1-2, 2025, per SEC Form 4 filings. This transaction reduced his direct holdings to 22,048 shares, valued at ~$183,439 as of Dec. 2 close.
Transaction Analysis
| Metric | Value |
|---|---|
| Shares sold | 164,184 |
| Transaction value | ~$1.4 million |
| Post-transaction shares | 22,048 |
| Direct ownership value | ~$183,439 |
Calculations based on SEC-reported weighted average price ($8.54) and Dec. 2 market close ($8.54).
Strategic Context
- Selling Pattern Continuity: The 164K-share sale represents ~34% of Long’s pre-transaction holdings, materially smaller than his historical median sale of 1.5M shares but consistent with declining liquidity as indirect VC holdings mature.
- Valuation Timing: Executed at ~$8.54/share, this coincided with a 194.39% 12-month total return, though ~15% below the $9.45 peak reached three days post-transaction. Sale timing aligns with Atlantic Bridge Ventures’ broader exit strategy.
- Residual Exposure: Remaining 22,048 shares (~$183K value) represent 0.1% of Long’s former 9M-share VC stake, suggesting strategic risk mitigation rather than fundamental skepticism.
Financial Fundamentals
| Metric | Value |
|---|---|
| Market Cap | $2.03B |
| Revenue (TTM) | $56.60M |
| Net Income (TTM) | -$125M |
| 1Y Price Change | 175.50% |
* 1-year change calculated to Dec. 2, 2025 reference date.
Industry Positioning
Navitas operates in the gallium nitride (GaN) power IC sector, employing a fabless model to serve global electronics manufacturers. Recent challenges include weak sales growth, compounded by regulatory headwinds such as China’s 10% tariffs on U.S.-produced silicon carbide wafers, which prompted inventory write-offs and strategic pivot to high-voltage SiC products.
Investor Implications
As co-founder of Atlantic Bridge Ventures, Long’s transaction reflects a VC-level exit rather than personal conviction shift. The firm’s gradual divestment since March 2025-culminating in retention of only 22,048 personal shares-suggests reassessment of risk/reward dynamics in a stock trading at 33x trailing sales despite recent price appreciation.
Navitas’ post-SPAC trajectory (2021 debut at $12.78) includes a 75% drawdown through 2024, followed by a 2025 rebound to $9.50. Investors should note that Long’s exit predates October’s $13 peak, raising questions about timing rationale amid ongoing operational restructuring.
Glossary
Insider Trading: Securities transactions by individuals with material non-public information.
Director: Board member overseeing corporate governance and strategy.
Open-Market Sale: Public exchange transaction available to all investors.
SEC Form 4: Mandatory filing disclosing insider transactions.
Disposition: Transfer of asset ownership via sale or other means.
Direct Ownership: Personal shareholding excluding indirect structures.
Weighted Average Price: Price calculation factoring share quantity and cost.
Fabless Model: Semiconductor design without manufacturing infrastructure.
Gallium Nitride (GaN):b> High-efficiency semiconductor material.
Total Return: Price appreciation plus reinvested distributions.
TTM: Twelve months ending with latest quarterly report.
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2025-12-09 14:31