Charles Schwab Investment Management Inc. Sells 39,734 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS)

Charles Schwab Investment Management Inc. lessened its holdings in Navitas Semiconductor Co. (NASDAQ:NVTS) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 969,880 shares of the company’s stock after selling 39,734 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Navitas Semiconductor were worth $2,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of NVTS. Point72 Asset Management L.P. grew its stake in Navitas Semiconductor by 2,656.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock valued at $16,834,000 after purchasing an additional 4,127,940 shares during the period. Masters Capital Management LLC lifted its position in shares of Navitas Semiconductor by 90.0% during the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock valued at $7,467,000 after buying an additional 900,000 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Navitas Semiconductor during the 2nd quarter valued at $2,364,000. Rice Hall James & Associates LLC purchased a new position in shares of Navitas Semiconductor during the 2nd quarter valued at $2,151,000. Finally, Bank of New York Mellon Corp lifted its holdings in Navitas Semiconductor by 28.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 486,640 shares of the company’s stock worth $1,912,000 after purchasing an additional 108,122 shares in the last quarter. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

NVTS opened at $3.44 on Monday. Navitas Semiconductor Co. has a 52-week low of $1.75 and a 52-week high of $8.44. The stock has a market capitalization of $642.58 million, a PE ratio of -8.19 and a beta of 2.37. The stock’s 50 day moving average price is $2.63 and its 200-day moving average price is $3.17.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The company had revenue of $21.68 million for the quarter, compared to analyst estimates of $21.93 million. During the same period in the previous year, the company posted ($0.10) earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. Research analysts forecast that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on NVTS shares. Robert W. Baird dropped their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Rosenblatt Securities reissued a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a report on Thursday, October 31st. Craig Hallum dropped their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $4.75.

Insider Activity

In related news, Director Richard J. Hendrix sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $4.04, for a total transaction of $323,200.00. Following the completion of the sale, the director now owns 356,709 shares in the company, valued at approximately $1,441,104.36. This represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 31.80% of the company’s stock.

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.