Cetera Investment Advisers Has $865,000 Position in Navitas Semiconductor Corporation $NVTS

Cetera Investment Advisers increased its holdings in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) by 662.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,004 shares of the company’s stock after purchasing an additional 114,686 shares during the period. Cetera Investment Advisers owned approximately 0.07% of Navitas Semiconductor worth $865,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of NVTS. Creative Planning lifted its stake in Navitas Semiconductor by 82.8% in the second quarter. Creative Planning now owns 126,441 shares of the company’s stock valued at $828,000 after buying an additional 57,290 shares in the last quarter. Geode Capital Management LLC lifted its position in Navitas Semiconductor by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 3,340,193 shares of the company’s stock valued at $21,882,000 after acquiring an additional 124,594 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Navitas Semiconductor by 1,510.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,424 shares of the company’s stock worth $49,000 after purchasing an additional 6,963 shares during the period. SBI Securities Co. Ltd. increased its holdings in Navitas Semiconductor by 35.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 27,673 shares of the company’s stock worth $181,000 after purchasing an additional 7,184 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in Navitas Semiconductor during the 2nd quarter worth about $1,244,000. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Stock Up 0.3%

NVTS stock opened at $9.48 on Friday. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -14.81 and a beta of 3.14. Navitas Semiconductor Corporation has a twelve month low of $1.52 and a twelve month high of $17.79. The business has a 50 day moving average price of $10.05 and a two-hundred day moving average price of $7.74.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $10.11 million for the quarter, compared to analysts’ expectations of $10.00 million. Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.The business’s revenue was down 53.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) EPS. On average, equities research analysts anticipate that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NVTS has been the topic of a number of research reports. Rosenblatt Securities restated a “neutral” rating and issued a $8.00 price target on shares of Navitas Semiconductor in a report on Monday, November 10th. Jefferies Financial Group raised Navitas Semiconductor to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. Needham & Company LLC upped their price target on Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, CJS Securities downgraded shares of Navitas Semiconductor from an “outperform” rating to a “market perform” rating in a report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.48.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, CFO Todd Glickman sold 96,313 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $10.56, for a total value of $1,017,065.28. Following the completion of the sale, the chief financial officer owned 891,268 shares in the company, valued at $9,411,790.08. This trade represents a 9.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian Long sold 48,165 shares of Navitas Semiconductor stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $8.50, for a total transaction of $409,402.50. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,005,349 shares of company stock worth $28,640,637 over the last ninety days. Insiders own 29.90% of the company’s stock.

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.