Director at Navitas Semiconductor Sells 164K Shares Worth $1.4 Million

Navitas Semiconductor director Brian Long (co-founder/managing partner of Atlantic Bridge Ventures) sold 164,184 shares in open-market trades Dec. 1–2, 2025 for roughly $1.4m, leaving him with 22,048 shares (~$183k); the sale completes Atlantic Bridge’s gradual exit of roughly nine million Navitas shares. The company, a fabless GaN/SiC power-IC designer, has seen a dramatic recovery this year (shares up ~175% YTD, briefly to $13) but remains below its 2021 SPAC debut price, posts TTM revenue of $56.6m and a -$125m TTM net loss, and has experienced weak sales, an inventory write-off related to a shift away from low-power chips and headwinds from China’s 10% SiC wafer tariff as management pivots to high-power SiC products. Atlantic Bridge’s full exit despite the rally, combined with Navitas’s heavy losses and a valuation near 33x trailing sales, suggests investors should treat the recent price strength cautiously given execution and profitability risks.

Analysis

Navitas Semiconductor director Brian Long filed an SEC Form 4 showing open-market sales of 164,184 shares on Dec. 1–2, 2025 for roughly $1.4 million at a weighted average price of $8.54, leaving him with 22,048 personally held shares valued at about $183,439; the transactions complete Atlantic Bridge Ventures' gradual liquidation of roughly nine million Navitas shares. The sale size is materially smaller than Long's earlier median disposals (500,000 recent median; 1,500,000 early-period median), a dynamic the report attributes to a reduction in available indirect holdings rather than a single large disposition strategy change.

The stock has rallied sharply this year (roughly 175–194% one‑year return, rising from about $3 to as high as $13 before trading near $8.54–$9.45 in early December) but remains below its October 2021 SPAC debut close of $12.78. Fundamental metrics show TTM revenue of $56.6 million, a TTM net loss of $125 million and a market capitalization near $2.03 billion, implying a valuation around 33x trailing sales while management pivots from low-power GaN chips to higher-power SiC products after an inventory write‑off linked to weak low-power demand and China’s 10% SiC tariff.

Atlantic Bridge’s full exit despite the rally removes a potential overhang but is a cautionary signal about VC conviction; the company faces execution and profitability risk while trading at a premium to current sales. Key near-term risks are successful commercialization of high-voltage SiC, resolution of prior inventory issues, and meaningful revenue/margin improvement to justify the elevated multiple.

Key Decisions for Investors

• Treat Atlantic Bridge's full exit as a negative governance/conviction signal and consider reducing exposure or avoiding new long positions until Navitas reports consecutive quarters of revenue growth and margin improvement
• Given TTM revenue of $56.6 million, a $125 million net loss, a $2.03 billion market cap and ~33x trailing sales, size any position conservatively or hedge exposure rather than add at current levels
• Monitor specific catalysts closely — quarterly revenue trends, inventory write‑off remediation, progress and customer wins for high‑power SiC products, and the impact of China’s 10% SiC wafer tariff — and reinitiate buys only if management delivers clear, sustained execution