Navitas Semiconductor Co. (NASDAQ:NVTS) Shares Sold by Barclays PLC

Barclays PLC cut its position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) by 41.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 195,252 shares of the company’s stock after selling 136,282 shares during the period. Barclays PLC owned 0.11% of Navitas Semiconductor worth $478,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVTS. Bank of New York Mellon Corp boosted its position in Navitas Semiconductor by 28.6% during the second 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. Commonwealth Equity Services LLC lifted its position in shares of Navitas Semiconductor by 5.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 77,940 shares of the company’s stock valued at $306,000 after buying an additional 4,000 shares in the last quarter. Rhumbline Advisers grew its stake in Navitas Semiconductor by 10.5% in the 2nd quarter. Rhumbline Advisers now owns 178,306 shares of the company’s stock valued at $701,000 after acquiring an additional 16,892 shares during the period. Wedbush Securities Inc. purchased a new stake in Navitas Semiconductor in the 2nd quarter worth $49,000. Finally, Rice Hall James & Associates LLC purchased a new position in Navitas Semiconductor during the second quarter valued at $2,151,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Stock Down 2.2 %

Shares of NVTS opened at $3.49 on Friday. Navitas Semiconductor Co. has a 52-week low of $1.75 and a 52-week high of $7.51. The stock has a fifty day simple moving average of $2.94 and a two-hundred day simple moving average of $3.11. The company has a market capitalization of $651.92 million, a PE ratio of -8.31 and a beta of 2.37.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $21.68 million during the quarter, compared to analysts’ expectations of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. Navitas Semiconductor’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business earned ($0.10) earnings per share. As a group, equities analysts anticipate that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $7.50 price target on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Craig Hallum lowered their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Robert W. Baird lowered their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.75.

Insider Activity

In related news, Director Richard J. Hendrix sold 40,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $4.54, for a total transaction of $181,600.00. Following the completion of the sale, the director now directly owns 316,709 shares of the company’s stock, valued at approximately $1,437,858.86. This trade represents a 11.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.