Navitas Semiconductor Co. (NASDAQ:NVTS) Shares Purchased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC increased its holdings in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) by 48.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,826 shares of the company’s stock after acquiring an additional 8,156 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Navitas Semiconductor were worth $98,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVTS. Intrinsic Edge Capital Management LLC grew its holdings in Navitas Semiconductor by 91.6% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock worth $21,932,000 after acquiring an additional 1,299,524 shares during the period. Masters Capital Management LLC grew its holdings in Navitas Semiconductor by 55.3% during the fourth quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company’s stock worth $13,719,000 after acquiring an additional 605,000 shares during the period. Kodai Capital Management LP grew its holdings in Navitas Semiconductor by 14.3% during the first quarter. Kodai Capital Management LP now owns 4,514,576 shares of the company’s stock worth $21,535,000 after acquiring an additional 565,463 shares during the period. Rice Hall James & Associates LLC purchased a new stake in Navitas Semiconductor during the second quarter worth $2,151,000. Finally, Vanguard Group Inc. boosted its position in Navitas Semiconductor by 2.6% during the first quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company’s stock worth $42,976,000 after purchasing an additional 232,496 shares in the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Morgan Stanley decreased their target price on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 target price on shares of Navitas Semiconductor in a research report on Friday, August 2nd. Needham & Company LLC decreased their target price on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their target price on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, Craig Hallum reduced their price objective on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $6.00.

Navitas Semiconductor Stock Down 5.0 %

Shares of NASDAQ:NVTS opened at $2.45 on Tuesday. Navitas Semiconductor Co. has a 52-week low of $2.14 and a 52-week high of $8.44. The stock’s fifty day simple moving average is $2.95 and its 200-day simple moving average is $3.81. The company has a market capitalization of $448.60 million, a P/E ratio of -4.76 and a beta of 2.40.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The business had revenue of $20.50 million during the quarter, compared to analyst estimates of $20.01 million. Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) earnings per share. On average, sell-side analysts anticipate that Navitas Semiconductor Co. will post -0.53 earnings per share for the current year.

Insider Activity at Navitas Semiconductor

In related news, Director David Moxam sold 33,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total value of $103,290.00. Following the completion of the transaction, the director now directly owns 867,848 shares in the company, valued at $2,716,364.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director David Moxam sold 33,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total value of $103,290.00. Following the completion of the transaction, the director now directly owns 867,848 shares in the company, valued at $2,716,364.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eugene Sheridan sold 453,190 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total value of $1,373,165.70. Following the completion of the transaction, the chief executive officer now owns 2,608,441 shares of the company’s stock, valued at $7,903,576.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 829,852 shares of company stock worth $2,528,252. 31.80% of the stock is currently owned by insiders.

Navitas Semiconductor Profile

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company's products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.