Barclays PLC Sells 136,282 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS)

Barclays PLC trimmed its position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) by 41.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 195,252 shares of the company’s stock after selling 136,282 shares during the quarter. Barclays PLC owned 0.10% of Navitas Semiconductor worth $478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. DRW Securities LLC purchased a new position in Navitas Semiconductor during the second quarter worth about $46,000. Algert Global LLC bought a new position in shares of Navitas Semiconductor during the 2nd quarter worth approximately $50,000. Benjamin Edwards Inc. purchased a new position in shares of Navitas Semiconductor in the 3rd quarter worth approximately $36,000. Bleakley Financial Group LLC bought a new position in shares of Navitas Semiconductor in the third quarter valued at approximately $41,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Navitas Semiconductor during the third quarter valued at approximately $44,000. Institutional investors own 46.14% of the company’s stock.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor 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 value of $181,600.00. Following the completion of the transaction, the director now owns 316,709 shares in the company, valued at $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 is available through this hyperlink. Corporate insiders own 31.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Robert W. Baird cut their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Rosenblatt Securities reissued a “buy” rating and issued a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday, October 31st. Craig Hallum decreased their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a report 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 on the stock in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Stock Down 1.5 %

NASDAQ NVTS opened at $3.26 on Friday. The company has a market cap of $608.97 million, a PE ratio of -7.76 and a beta of 2.23. The firm’s 50-day simple moving average is $3.15 and its two-hundred day simple moving average is $3.06. Navitas Semiconductor Co. has a 52 week low of $1.75 and a 52 week high of $7.40.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The company had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $21.93 million. During the same period in the prior year, the company posted ($0.10) EPS. Navitas Semiconductor’s revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Navitas Semiconductor Company 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.