BNP Paribas Financial Markets Takes Position in Navitas Semiconductor Co. (NASDAQ:NVTS)

BNP Paribas Financial Markets purchased a new stake in Navitas Semiconductor Co. (NASDAQ:NVTS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,658 shares of the company’s stock, valued at approximately $52,000.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Navitas Semiconductor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,873,888 shares of the company’s stock valued at $35,250,000 after purchasing an additional 166,115 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Navitas Semiconductor by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 3,081,916 shares of the company’s stock worth $11,005,000 after acquiring an additional 113,277 shares in the last quarter. Northern Trust Corp raised its stake in shares of Navitas Semiconductor by 9.5% during the 4th quarter. Northern Trust Corp now owns 1,209,761 shares of the company’s stock worth $4,319,000 after acquiring an additional 104,906 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Navitas Semiconductor by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,046,750 shares of the company’s stock worth $3,737,000 after acquiring an additional 76,870 shares in the last quarter. Finally, DnB Asset Management AS raised its stake in shares of Navitas Semiconductor by 109.8% during the 4th quarter. DnB Asset Management AS now owns 506,124 shares of the company’s stock worth $1,807,000 after acquiring an additional 264,906 shares in the last quarter. Institutional investors own 46.14% of the company’s stock.

Insider Activity

In related news, CEO Eugene Sheridan sold 2,155,783 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $4.49, for a total transaction of $9,679,465.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Long sold 47,189 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $2.36, for a total transaction of $111,366.04. Following the sale, the director now directly owns 31,460 shares in the company, valued at $74,245.60. This trade represents a 60.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,478,587 shares of company stock valued at $22,447,680 in the last ninety days. Insiders own 31.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NVTS. Rosenblatt Securities boosted their price objective on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Morgan Stanley lowered shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $2.10 to $1.50 in a research note on Monday, April 7th. Needham & Company LLC reduced their price objective on shares of Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Finally, Robert W. Baird reduced their price objective on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, Navitas Semiconductor currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.79.

Navitas Semiconductor Trading Up 7.6%

NASDAQ:NVTS opened at $5.94 on Wednesday. The company has a market cap of $1.14 billion, a PE ratio of -14.14 and a beta of 2.24. Navitas Semiconductor Co. has a twelve month low of $1.52 and a twelve month high of $7.53. The company’s 50 day moving average is $2.53 and its two-hundred day moving average is $2.85.

Navitas Semiconductor (NASDAQ:NVTS) last released its earnings results on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $14.02 million for the quarter, compared to the consensus estimate of $14.01 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 39.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) EPS. As a group, analysts expect that Navitas Semiconductor Co. will post -0.51 EPS 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.