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

Vanguard Group Inc. grew its position in Navitas Semiconductor Corporation (NASDAQ:NVTS) by 23.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,360,648 shares of the company’s stock after acquiring an additional 2,550,613 shares during the period. Vanguard Group Inc. owned about 6.27% of Navitas Semiconductor worth $96,464,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its holdings in Navitas Semiconductor by 121.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,614 shares of the company’s stock valued at $76,000 after purchasing an additional 6,377 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Navitas Semiconductor during the 2nd quarter worth approximately $421,000. Arkadios Wealth Advisors acquired a new stake in shares of Navitas Semiconductor in the 2nd quarter valued at approximately $74,000. Spire Wealth Management boosted its stake in shares of Navitas Semiconductor by 1,480.0% in the second quarter. Spire Wealth Management now owns 15,800 shares of the company’s stock valued at $103,000 after buying an additional 14,800 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new position in Navitas Semiconductor during the second quarter worth $461,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Chris Allexandre sold 9,236 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total transaction of $82,477.48. Following the completion of the transaction, the chief executive officer directly owned 813,323 shares of the company’s stock, valued at $7,262,974.39. This trade represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gary Kent Wunderlich, Jr. sold 49,651 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $9.31, for a total value of $462,250.81. Following the completion of the sale, the director directly owned 86,964 shares in the company, valued at approximately $809,634.84. The trade was a 36.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 2,035,709 shares of company stock valued at $17,687,270. 29.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NVTS has been the subject of a number of recent analyst reports. Rosenblatt Securities reduced their target price on Navitas Semiconductor from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $6.78.

Navitas Semiconductor Stock Performance

Navitas Semiconductor stock opened at $8.96 on Friday. Navitas Semiconductor Corporation has a fifty-two week low of $1.52 and a fifty-two week high of $17.79. 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 stock’s fifty day moving average is $9.04 and its two-hundred day moving average is $8.72.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $7.30 million for the quarter, compared to analyst estimates of $6.95 million. Navitas Semiconductor had a negative net margin of 254.71% and a negative return on equity of 14.52%. The business’s revenue for the quarter was down 59.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.06) EPS. As a group, sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.

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.