ArrowMark Colorado Holdings LLC Cuts Stock Position in Navitas Semiconductor Corporation $NVTS

ArrowMark Colorado Holdings LLC trimmed its holdings in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) by 70.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,000 shares of the company’s stock after selling 247,000 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Navitas Semiconductor were worth $765,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NVTS. NewEdge Advisors LLC lifted its holdings in Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after purchasing an additional 2,942 shares in the last quarter. CWM LLC raised its position in shares of Navitas Semiconductor by 24.7% during the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after purchasing an additional 893 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Navitas Semiconductor by 1,376.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock valued at $38,000 after buying an additional 4,927 shares in the last quarter. Cranbrook Wealth Management LLC lifted its stake in Navitas Semiconductor by 72.5% in the 3rd quarter. Cranbrook Wealth Management LLC now owns 6,637 shares of the company’s stock valued at $48,000 after buying an additional 2,789 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings 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 buying an additional 6,963 shares during the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

Insider Activity

In other news, Director Ranbir Singh sold 389,096 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $9.52, for a total value of $3,704,193.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chris Allexandre sold 9,236 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $8.93, for a total transaction of $82,477.48. Following the sale, the chief executive officer owned 813,323 shares of the company’s stock, valued at $7,262,974.39. This represents a 1.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 410,864 shares of company stock valued at $3,909,736 in the last 90 days. Company insiders own 29.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NVTS. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Thursday, January 22nd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $7.00 price target on shares of Navitas Semiconductor in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Navitas Semiconductor has a consensus rating of “Reduce” and a consensus target price of $6.78.

Navitas Semiconductor Stock Performance

NASDAQ NVTS opened at $10.49 on Tuesday. The stock’s fifty day moving average is $9.30 and its two-hundred day moving average is $8.91. The firm has a market capitalization of $2.42 billion, a P/E ratio of -18.40 and a beta of 3.16. Navitas Semiconductor Corporation has a fifty-two week low of $1.52 and a fifty-two week high of $17.79.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Tuesday, February 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $7.30 million during the quarter, compared to the consensus estimate of $6.95 million. Navitas Semiconductor had a negative return on equity of 14.52% and a negative net margin of 254.71%.The company’s revenue for the quarter was down 59.4% on a year-over-year basis. During the same period last year, the company earned ($0.06) EPS. As a group, sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.51 EPS for the current year.

Navitas Semiconductor Company Profile

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.