First Trust Advisors LP Has $8.27 Million Holdings in Navitas Semiconductor Corporation $NVTS

Key Points

• First Trust Advisors reduced its Navitas Semiconductor position by 12.5% in the first quarter, selling 134,494 shares and retaining 942,639 shares worth approximately $8.27 million. Institutional investors collectively own 46.14% of NVTS.
• Navitas reported quarterly revenue of $10.53 million, above analysts’ $9.97 million estimate, while matching consensus at a loss of $0.04 per share. Revenue declined 27.3% year over year, and the company remains unprofitable.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $14.27. The stock opened at $10.86, while company insiders sold nearly 4 million shares worth $116.4 million over the last quarter.

First Trust Advisors LP decreased its position in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 942,639 shares of the company's stock after selling 134,494 shares during the quarter. First Trust Advisors LP owned about 0.41% of Navitas Semiconductor worth $8,267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVTS. Allworth Financial LP increased its position in shares of Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company's stock worth $26,000 after buying an additional 2,698 shares during the period. NewEdge Advisors LLC lifted its holdings in Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company's stock valued at $29,000 after buying an additional 2,942 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company's stock valued at $36,000 after buying an additional 4,000 shares during the period. Sarver Vrooman Wealth Advisors bought a new stake in Navitas Semiconductor during the fourth quarter valued at $45,000. Finally, Harbour Investments Inc. boosted its position in Navitas Semiconductor by 68,600.0% during the fourth quarter. Harbour Investments Inc. now owns 6,870 shares of the company's stock valued at $49,000 after acquiring an additional 6,860 shares during the last quarter. Institutional investors and hedge funds own 46.14% of the company's stock.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total value of $423,804.63. Following the transaction, the chief executive officer owned 1,072,633 shares in the company, valued at approximately $34,120,455.73. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.11, for a total value of $2,052,030.00. Following the completion of the sale, the director directly owned 13,964 shares of the company's stock, valued at $392,528.04. This trade represents a 83.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,989,478 shares of company stock worth $116,356,387 over the last quarter. Company insiders own 12.40% of the company's stock.

Navitas Semiconductor Stock Down 1.4%

Navitas Semiconductor stock opened at $10.86 on Friday. The company has a market capitalization of $2.84 billion, a PE ratio of -8.17 and a beta of 3.82. Navitas Semiconductor Corporation has a 12-month low of $5.44 and a 12-month high of $34.17. The firm's fifty day moving average is $18.74 and its 200 day moving average is $14.16.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The company reported ($0.04) EPS for the quarter, hitting analysts' consensus estimates of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The business had revenue of $10.53 million during the quarter, compared to analysts' expectations of $9.97 million. During the same period last year, the company posted ($0.25) earnings per share. The business's quarterly revenue was down 27.3% on a year-over-year basis. Sell-side analysts expect that Navitas Semiconductor Corporation will post -0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVTS. Needham & Company LLC reiterated a "buy" rating and set a $21.00 price target on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Morgan Stanley reissued an "underweight" rating and issued a $12.60 price objective on shares of Navitas Semiconductor in a research note on Tuesday. Robert W. Baird upped their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Jefferies Financial Group set a $13.00 target price on Navitas Semiconductor in a research note on Tuesday. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $13.00 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor currently has a consensus rating of "Hold" and an average price target of $14.27.

About Navitas Semiconductor

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.

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