SG Americas Securities LLC Grows Position in Navitas Semiconductor Co. (NASDAQ:NVTS)

SG Americas Securities LLC increased its holdings in Navitas Semiconductor Co. (NASDAQ:NVTS) by 81.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 98,601 shares of the company’s stock after purchasing an additional 44,340 shares during the period. SG Americas Securities LLC owned approximately 0.05% of Navitas Semiconductor worth $352,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. 180 Wealth Advisors LLC increased its position in Navitas Semiconductor by 15.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 90,682 shares of the company’s stock valued at $324,000 after acquiring an additional 12,027 shares during the last quarter. M&T Bank Corp lifted its position in shares of Navitas Semiconductor by 29.6% during the third quarter. M&T Bank Corp now owns 159,804 shares of the company’s stock valued at $392,000 after buying an additional 36,504 shares during the last quarter. State Street Corp increased its holdings in shares of Navitas Semiconductor by 4.0% during the third quarter. State Street Corp now owns 5,826,638 shares of the company’s stock valued at $14,275,000 after acquiring an additional 221,575 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Navitas Semiconductor during the third quarter valued at about $172,000. Finally, Point72 Asset Management L.P. increased its holdings in Navitas Semiconductor by 87.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock worth $19,677,000 after buying an additional 3,748,124 shares during the period. Institutional investors own 46.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NVTS shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Craig Hallum decreased their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Robert W. Baird cut their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Two 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 currently has a consensus rating of “Moderate Buy” and an average price target of $4.75.

Insider Activity

In related news, Director Richard J. Hendrix sold 80,000 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $4.04, for a total transaction of $323,200.00. Following the sale, the director now owns 356,709 shares of the company’s stock, valued at $1,441,104.36. This trade represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 31.80% of the company’s stock.

Navitas Semiconductor Trading Down 4.3 %

NASDAQ:NVTS opened at $2.90 on Tuesday. The firm has a market cap of $541.72 million, a P/E ratio of -6.90 and a beta of 2.20. The stock’s 50 day simple moving average is $3.41 and its 200-day simple moving average is $2.95. Navitas Semiconductor Co. has a 12-month low of $1.75 and a 12-month high of $7.40.

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). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The firm had revenue of $21.68 million during the quarter, compared to analysts’ expectations of $21.93 million. During the same quarter in the prior year, the business posted ($0.10) earnings per share. Navitas Semiconductor’s revenue was down 1.4% compared to the same quarter last year. Research analysts forecast that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

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.