Navitas Semiconductor Corporation $NVTS Shares Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its Navitas Semiconductor stake by 21.8% in the first quarter, bringing its holdings to 566,465 shares valued at approximately $4.97 million. Institutional investors collectively own 46.14% of NVTS.
• Analyst sentiment remains mixed, with two Buy, three Hold and two Sell ratings; the stock has an average consensus rating of Hold and a price target of $15.92.
• Navitas reported quarterly revenue of $10.53 million and a loss of $0.04 per share, while revenue declined 27.3% year over year. Insiders sold nearly 4 million shares worth $116.4 million during the quarter.

Bank of New York Mellon Corp boosted its holdings in Navitas Semiconductor Corporation (NASDAQ:NVTS - Free Report) by 21.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 566,465 shares of the company's stock after acquiring an additional 101,389 shares during the quarter. Bank of New York Mellon Corp owned about 0.25% of Navitas Semiconductor worth $4,968,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVTS. Geneos Wealth Management Inc. grew its position in Navitas Semiconductor by 3,200.0% during the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company's stock worth $36,000 after buying an additional 4,000 shares during the period. NFSG Corp lifted its position in shares of Navitas Semiconductor by 54.3% during the 1st quarter. NFSG Corp now owns 204,972 shares of the company's stock valued at $1,798,000 after acquiring an additional 72,098 shares during the period. Sanctuary Advisors LLC lifted its position in shares of Navitas Semiconductor by 48.4% during the 1st quarter. Sanctuary Advisors LLC now owns 16,761 shares of the company's stock valued at $147,000 after acquiring an additional 5,464 shares during the period. 180 Wealth Advisors LLC boosted its stake in shares of Navitas Semiconductor by 6.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 126,648 shares of the company's stock worth $1,111,000 after acquiring an additional 7,748 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its stake in shares of Navitas Semiconductor by 2.8% during the 1st quarter. Kestra Advisory Services LLC now owns 42,189 shares of the company's stock worth $370,000 after acquiring an additional 1,150 shares in the last quarter. Institutional investors and hedge funds own 46.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NVTS. Robert W. Baird upped their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a report on Tuesday, July 28th. Wall Street Zen upgraded Navitas Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Morgan Stanley reissued an "underweight" rating and issued a $12.60 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $15.92.

Navitas Semiconductor Stock Performance

Shares of NASDAQ:NVTS opened at $12.35 on Thursday. The business's fifty day moving average price is $17.68 and its two-hundred day moving average price is $14.24. The stock has a market cap of $3.22 billion, a PE ratio of -9.29 and a beta of 3.86. Navitas Semiconductor Corporation has a one year low of $5.44 and a one year high of $34.17.

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

Insider Activity

In other Navitas Semiconductor news, Director Ranbir Singh sold 3,060,118 shares of Navitas Semiconductor stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.29, for a total value of $89,630,856.22. Following the completion of the sale, the director directly owned 15,607,533 shares of the company's stock, valued at approximately $457,144,641.57. The trade was a 16.39% decrease in their position. The transaction 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 business's stock in a transaction 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 transaction, the director owned 13,964 shares of the company's stock, valued at $392,528.04. This trade represents a 83.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,989,478 shares of company stock worth $116,356,387. Company insiders own 12.40% of the company's stock.

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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