Navitas Semiconductor Corporation $NVTS Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) by 23.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,360,648 shares of the company’s stock after buying an additional 2,550,613 shares during the quarter. Vanguard Group Inc. owned approximately 0.06% of Navitas Semiconductor worth $96,464,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cibc World Market Inc. boosted its position in Navitas Semiconductor by 51.3% during the third quarter. Cibc World Market Inc. now owns 23,245 shares of the company’s stock worth $168,000 after acquiring an additional 7,881 shares during the last quarter. Mandatum Life Insurance Co Ltd lifted its stake in shares of Navitas Semiconductor by 237.5% during the 3rd quarter. Mandatum Life Insurance Co Ltd now owns 40,500 shares of the company’s stock worth $292,000 after purchasing an additional 28,500 shares during the period. Bryce Point Capital LLC acquired a new stake in shares of Navitas Semiconductor during the third quarter worth $117,000. Prospera Financial Services Inc grew its position in shares of Navitas Semiconductor by 3.8% in the third quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock valued at $219,000 after purchasing an additional 1,120 shares during the period. Finally, Fortitude Advisory Group L.L.C. acquired a new position in Navitas Semiconductor in the third quarter valued at $487,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Dipender Saluja sold 873,488 shares of Navitas Semiconductor stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $8.10, for a total transaction of $7,075,252.80. Following the sale, the director owned 4,755,536 shares in the company, valued at $38,519,841.60. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Todd Glickman sold 12,532 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $9.82, for a total transaction of $123,064.24. Following the transaction, the chief financial officer directly owned 833,383 shares in the company, valued at approximately $8,183,821.06. The trade was a 1.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 2,035,709 shares of company stock worth $17,687,270. Insiders own 29.90% of the company’s stock.

Navitas Semiconductor Trading Down 2.8%

NASDAQ:NVTS opened at $8.96 on Friday. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -15.72 and a beta of 3.16. The firm’s fifty day simple moving average is $9.04 and its 200 day simple moving average is $8.72. Navitas Semiconductor Corporation has a twelve month low of $1.52 and a twelve month high of $17.79.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $7.30 million for the quarter, compared to analyst estimates of $6.95 million. Navitas Semiconductor had a negative return on equity of 14.52% and a negative net margin of 254.71%.The firm’s revenue was down 59.4% compared to the same quarter last year. During the same period last year, the company posted ($0.06) earnings per share. On average, analysts predict that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVTS. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Thursday, January 22nd. Rosenblatt Securities lowered their price objective on shares of Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $6.78.

Navitas Semiconductor Profile

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.