Swiss National Bank Sells 25,700 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS)

Swiss National Bank reduced its position in Navitas Semiconductor Co. (NASDAQ:NVTS) by 9.7% during the fourth quarter, HoldingsChannel reports. The fund owned 239,700 shares of the company’s stock after selling 25,700 shares during the quarter. Swiss National Bank’s holdings in Navitas Semiconductor were worth $1,934,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its stake in Navitas Semiconductor by 7.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 31,230 shares of the company’s stock valued at $217,000 after acquiring an additional 2,250 shares during the period. Victory Capital Management Inc. increased its position in shares of Navitas Semiconductor by 23.9% during the fourth quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock valued at $128,000 after buying an additional 3,052 shares during the period. Quantbot Technologies LP increased its position in shares of Navitas Semiconductor by 3.5% during the third quarter. Quantbot Technologies LP now owns 141,264 shares of the company’s stock valued at $982,000 after buying an additional 4,735 shares during the period. Arizona State Retirement System increased its position in shares of Navitas Semiconductor by 17.0% during the third quarter. Arizona State Retirement System now owns 34,368 shares of the company’s stock valued at $239,000 after buying an additional 4,994 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in shares of Navitas Semiconductor by 15.9% during the third quarter. Commonwealth Equity Services LLC now owns 40,015 shares of the company’s stock valued at $278,000 after buying an additional 5,500 shares during the period. 46.14% of the stock is currently owned by institutional investors.

Navitas Semiconductor Trading Up 2.5 %

Shares of NASDAQ NVTS opened at $3.70 on Friday. Navitas Semiconductor Co. has a 12 month low of $3.54 and a 12 month high of $11.16. The firm has a market capitalization of $677.47 million, a price-to-earnings ratio of -7.25 and a beta of 2.52. The business has a 50-day moving average of $4.29 and a 200-day moving average of $5.81.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $26.06 million during the quarter, compared to analyst estimates of $25.68 million. Navitas Semiconductor had a negative return on equity of 21.22% and a negative net margin of 97.75%. On average, analysts predict that Navitas Semiconductor Co. will post -0.53 earnings per share for the current year.

Insiders Place Their Bets

In other Navitas Semiconductor news, EVP Ranbir Singh sold 10,925 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $52,440.00. Following the completion of the sale, the executive vice president now owns 29,357 shares of the company’s stock, valued at $140,913.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Navitas Semiconductor news, EVP Ranbir Singh sold 10,925 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $52,440.00. Following the completion of the sale, the executive vice president now owns 29,357 shares of the company’s stock, valued at $140,913.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eugene Sheridan sold 38,431 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $184,468.80. Following the completion of the sale, the chief executive officer now directly owns 3,061,631 shares of the company’s stock, valued at approximately $14,695,828.80. The disclosure for this sale can be found here. Insiders sold a total of 73,429 shares of company stock valued at $352,459 over the last quarter. 31.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities decreased their price target on Navitas Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Robert W. Baird decreased their price target on Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Jefferies Financial Group reiterated a “hold” rating and set a $4.00 price target (down from $10.00) on shares of Navitas Semiconductor in a research report on Monday, May 13th. Deutsche Bank Aktiengesellschaft cut their price objective on Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, Needham & Company LLC cut their price objective on Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, May 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.41.

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.