Wedbush Securities Inc. Takes $49,000 Position in Navitas Semiconductor Co. (NASDAQ:NVTS)

Wedbush Securities Inc. purchased a new stake in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,500 shares of the company’s stock, valued at approximately $49,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Navitas Semiconductor by 2.6% during the first quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company’s stock valued at $42,976,000 after acquiring an additional 232,496 shares during the period. Kodai Capital Management LP increased its holdings in Navitas Semiconductor by 14.3% in the first quarter. Kodai Capital Management LP now owns 4,514,576 shares of the company’s stock valued at $21,535,000 after purchasing an additional 565,463 shares during the last quarter. Intrinsic Edge Capital Management LLC increased its holdings in Navitas Semiconductor by 91.6% in the fourth quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock valued at $21,932,000 after purchasing an additional 1,299,524 shares during the last quarter. Masters Capital Management LLC increased its holdings in Navitas Semiconductor by 55.3% in the fourth quarter. Masters Capital Management LLC now owns 1,700,000 shares of the company’s stock valued at $13,719,000 after purchasing an additional 605,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Navitas Semiconductor by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 940,048 shares of the company’s stock valued at $7,586,000 after purchasing an additional 34,524 shares during the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

Insider Buying and Selling

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

Navitas Semiconductor Price Performance

Shares of Navitas Semiconductor stock opened at $2.56 on Monday. The company has a market capitalization of $468.74 million, a P/E ratio of -5.02 and a beta of 2.40. Navitas Semiconductor Co. has a 1 year low of $2.22 and a 1 year high of $8.44. The business has a 50-day moving average of $3.38 and a two-hundred day moving average of $4.02.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data 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 firm had revenue of $20.50 million for the quarter, compared to the consensus estimate of $20.01 million. Navitas Semiconductor had a negative return on equity of 22.29% and a negative net margin of 55.70%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.12) earnings per share. On average, equities analysts anticipate that Navitas Semiconductor Co. will post -0.53 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.