Vanguard Personalized Indexing Management LLC Increases Stock Holdings in Navitas Semiconductor Co. (NASDAQ:NVTS)

Vanguard Personalized Indexing Management LLC boosted its position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) by 48.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,826 shares of the company’s stock after acquiring an additional 8,156 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Navitas Semiconductor were worth $98,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVTS. Wedbush Securities Inc. purchased a new position in shares of Navitas Semiconductor in the 2nd quarter valued at about $49,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Navitas Semiconductor by 72.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock valued at $63,000 after buying an additional 5,550 shares during the period. SG Americas Securities LLC purchased a new position in shares of Navitas Semiconductor in the 1st quarter valued at about $65,000. ProShare Advisors LLC boosted its stake in shares of Navitas Semiconductor by 12.5% in the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock valued at $97,000 after buying an additional 2,258 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Navitas Semiconductor by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock valued at $151,000 after buying an additional 4,533 shares during the period. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NVTS shares. Needham & Company LLC decreased their price objective on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Morgan Stanley decreased their target price on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Craig Hallum decreased their target price on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Rosenblatt Securities restated a “buy” rating and set a $10.00 target price on shares of Navitas Semiconductor in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Navitas Semiconductor Stock Down 5.0 %

NVTS opened at $2.45 on Tuesday. The firm has a market cap of $448.60 million, a price-to-earnings ratio of -4.76 and a beta of 2.40. Navitas Semiconductor Co. has a 52 week low of $2.14 and a 52 week high of $8.44. The business’s 50 day moving average is $2.95 and its two-hundred day moving average is $3.81.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The firm had revenue of $20.50 million for the quarter, compared to analyst estimates of $20.01 million. Navitas Semiconductor had a negative return on equity of 22.29% and a negative net margin of 55.70%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm earned ($0.12) EPS. Equities analysts expect that Navitas Semiconductor Co. will post -0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eugene Sheridan sold 193,662 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $3.03, for a total value of $586,795.86. Following the transaction, the chief executive officer now owns 2,149,631 shares of the company’s stock, valued at $6,513,381.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Eugene Sheridan sold 193,662 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $3.03, for a total value of $586,795.86. Following the transaction, the chief executive officer now owns 2,149,631 shares of the company’s stock, valued at $6,513,381.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Daniel M. Kinzer sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $3.10, for a total value of $465,000.00. Following the completion of the transaction, the chief operating officer now directly owns 4,388,353 shares in the company, valued at approximately $13,603,894.30. The disclosure for this sale can be found here. Insiders have sold a total of 829,852 shares of company stock valued at $2,528,252 over the last quarter. Company insiders own 31.80% of the company’s stock.

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.