Charles Schwab Investment Management Inc. Sells 39,734 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS)

Charles Schwab Investment Management Inc. reduced its holdings in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) by 3.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 969,880 shares of the company’s stock after selling 39,734 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.53% of Navitas Semiconductor worth $2,376,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NVTS. DRW Securities LLC acquired a new stake in shares of Navitas Semiconductor in the 2nd quarter valued at approximately $46,000. Wedbush Securities Inc. acquired a new stake in Navitas Semiconductor during the 2nd quarter valued at $49,000. Algert Global LLC acquired a new stake in Navitas Semiconductor during the 2nd quarter valued at $50,000. Bleakley Financial Group LLC acquired a new stake in Navitas Semiconductor during the 3rd quarter valued at $41,000. Finally, GSA Capital Partners LLP acquired a new stake in Navitas Semiconductor during the 3rd quarter valued at $44,000. 46.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

NVTS has been the subject of a number of research reports. Rosenblatt Securities reissued a “buy” rating and set a $7.50 target price on shares of Navitas Semiconductor in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Craig Hallum decreased their target price on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Robert W. Baird reduced their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.75.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 80,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 356,709 shares in the company, valued at $1,441,104.36. The trade was a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 31.80% of the company’s stock.

Navitas Semiconductor Price Performance

Navitas Semiconductor stock opened at $3.44 on Monday. The stock’s 50 day moving average is $2.63 and its 200 day moving average is $3.17. The firm has a market cap of $642.58 million, a P/E ratio of -8.19 and a beta of 2.37. Navitas Semiconductor Co. has a one year low of $1.75 and a one year high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $21.93 million. During the same period in the previous year, the firm earned ($0.10) earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. Equities analysts anticipate that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

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.