Marshall Wace LLP Trims Stock Holdings in Navitas Semiconductor Co. (NASDAQ:NVTS)

Marshall Wace LLP reduced its stake in Navitas Semiconductor Co. (NASDAQ:NVTS) by 95.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 58,238 shares of the company’s stock after selling 1,216,528 shares during the period. Marshall Wace LLP’s holdings in Navitas Semiconductor were worth $229,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. DRW Securities LLC purchased a new stake in Navitas Semiconductor during the second quarter worth about $46,000. Ensign Peak Advisors Inc increased its stake in Navitas Semiconductor by 5.2% during the second quarter. Ensign Peak Advisors Inc now owns 77,245 shares of the company’s stock worth $304,000 after purchasing an additional 3,800 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in Navitas Semiconductor by 48.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,826 shares of the company’s stock worth $98,000 after purchasing an additional 8,156 shares during the period. Rice Hall James & Associates LLC purchased a new stake in Navitas Semiconductor during the second quarter worth about $2,151,000. Finally, Wedbush Securities Inc. purchased a new stake in Navitas Semiconductor during the second quarter worth about $49,000. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Craig Hallum cut their price target on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC lowered their price objective on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Morgan Stanley lowered their price objective on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $10.00 price objective on shares of Navitas Semiconductor in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Insider Activity at Navitas Semiconductor

In related news, Director David Moxam sold 33,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,716,364.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director David Moxam sold 33,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 867,848 shares of the company’s stock, valued at approximately $2,716,364.24. This represents a 0.00 % 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 this hyperlink. Also, CEO Eugene Sheridan sold 193,662 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $3.03, for a total value of $586,795.86. Following the completion of the sale, the chief executive officer now directly owns 2,149,631 shares of the company’s stock, valued at $6,513,381.93. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 829,852 shares of company stock valued at $2,528,252 over the last three months. 31.80% of the stock is owned by corporate insiders.

Navitas Semiconductor Stock Up 5.8 %

Shares of NVTS opened at $2.55 on Friday. The stock has a 50 day moving average price of $2.68 and a 200 day moving average price of $3.66. The company has a market capitalization of $466.91 million, a price-to-earnings ratio of -5.00 and a beta of 2.38. Navitas Semiconductor Co. has a 52-week low of $2.14 and a 52-week high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the company earned ($0.12) earnings per share. On average, equities analysts anticipate that Navitas Semiconductor Co. will post -0.53 EPS for the current fiscal year.

About Navitas Semiconductor

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.