Rhumbline Advisers Reduces Holdings in Navitas Semiconductor Corporation $NVTS

Rhumbline Advisers lowered its position in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) by 30.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 283,044 shares of the company’s stock after selling 121,906 shares during the period. Rhumbline Advisers owned approximately 0.13% of Navitas Semiconductor worth $2,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in NVTS. NewEdge Advisors LLC grew its position in Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after acquiring an additional 2,942 shares during the period. CWM LLC lifted its stake in shares of Navitas Semiconductor by 24.7% in the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after purchasing an additional 893 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Navitas Semiconductor by 1,376.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock valued at $38,000 after purchasing an additional 4,927 shares during the last quarter. Cranbrook Wealth Management LLC grew its holdings in shares of Navitas Semiconductor by 72.5% during the 3rd quarter. Cranbrook Wealth Management LLC now owns 6,637 shares of the company’s stock worth $48,000 after purchasing an additional 2,789 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Navitas Semiconductor by 1,510.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,424 shares of the company’s stock worth $49,000 after purchasing an additional 6,963 shares during the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Ranbir Singh sold 179,354 shares of Navitas Semiconductor stock in a transaction on Friday, December 12th. The stock was sold at an average price of $8.68, for a total value of $1,556,792.72. Following the completion of the transaction, the director directly owned 389,096 shares in the company, valued at approximately $3,377,353.28. This trade represents a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dipender Saluja sold 873,488 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $8.10, for a total value of $7,075,252.80. Following the completion of the sale, the director directly owned 4,755,536 shares in the company, valued at $38,519,841.60. This represents a 15.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,837,194 shares of company stock valued at $15,589,829. 29.90% of the stock is owned by company insiders.

Navitas Semiconductor Stock Performance

NASDAQ NVTS opened at $9.00 on Friday. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -15.79 and a beta of 3.16. The firm has a 50 day simple moving average of $8.92 and a 200-day simple moving average of $8.66. Navitas Semiconductor Corporation has a one year low of $1.52 and a one year high of $17.79.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Tuesday, February 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 15.27%. The company had revenue of $7.30 million for the quarter, compared to analyst estimates of $6.95 million. During the same period in the prior year, the business earned ($0.06) EPS. The firm’s quarterly revenue was down 59.4% on a year-over-year basis. Equities analysts predict that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on NVTS shares. Rosenblatt Securities decreased their target price on shares of Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday. Needham & Company LLC boosted their price target on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Thursday, January 22nd. Two analysts have 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.32.

About Navitas Semiconductor

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.