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Universal Beteiligungs und Servicegesellschaft mbH Purchases Shares of 200,000 Navitas Semiconductor Corporation (NASDAQ:NVTS)

Navitas Semiconductor logo with Computer and Technology background

Key Points

  • Universal Beteiligungs und Servicegesellschaft mbH has acquired 200,000 shares of Navitas Semiconductor Corporation, representing a new position valued at approximately $410,000, making up about 0.10% of the company's stock.
  • Navitas Semiconductor's stock experienced an 8.6% increase and is currently trading at $7.96, with a market cap of $1.53 billion.
  • In the most recent quarter, Navitas reported revenue of $14.02 million, down 39.7% year-over-year, and the company is expected to post earnings per share of -0.51 for the current fiscal year.
  • MarketBeat previews top five stocks to own in September.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 200,000 shares of the company's stock, valued at approximately $410,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.10% of Navitas Semiconductor at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NVTS. Larson Financial Group LLC bought a new stake in Navitas Semiconductor during the 1st quarter worth approximately $28,000. Teacher Retirement System of Texas bought a new stake in shares of Navitas Semiconductor during the first quarter worth $36,000. Castleview Partners LLC acquired a new stake in shares of Navitas Semiconductor in the first quarter valued at $52,000. Simplicity Wealth LLC bought a new position in shares of Navitas Semiconductor in the first quarter valued at about $26,000. Finally, Merit Financial Group LLC acquired a new position in Navitas Semiconductor during the 1st quarter worth about $48,000. Institutional investors own 46.14% of the company's stock.

Navitas Semiconductor Stock Up 8.6%

NVTS stock opened at $7.96 on Monday. Navitas Semiconductor Corporation has a twelve month low of $1.52 and a twelve month high of $9.48. The company has a market cap of $1.53 billion, a P/E ratio of -15.31 and a beta of 3.02. The business's fifty day moving average is $6.85 and its 200-day moving average is $3.98.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.06) EPS for the quarter, meeting analysts' consensus estimates of ($0.06). Navitas Semiconductor had a negative return on equity of 22.62% and a negative net margin of 131.83%. The business had revenue of $14.02 million during the quarter, compared to the consensus estimate of $14.01 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The firm's revenue was down 39.7% on a year-over-year basis. Research analysts anticipate that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, CFO Todd Glickman sold 532,342 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $4.49, for a total value of $2,390,215.58. Following the completion of the sale, the chief financial officer owned 234,501 shares of the company's stock, valued at approximately $1,052,909.49. This represents a 69.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Moxam sold 714,199 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $6.50, for a total transaction of $4,642,293.50. Following the completion of the sale, the director owned 78,649 shares in the company, valued at approximately $511,218.50. This trade represents a 90.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,084,600 shares of company stock worth $99,761,157. 29.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on NVTS shares. Needham & Company LLC lowered 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 report on Tuesday, May 6th. 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 report on Thursday, May 22nd. Morgan Stanley downgraded 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 report on Monday, April 7th. Finally, Deutsche Bank Aktiengesellschaft cut Navitas Semiconductor from a "buy" rating to a "hold" rating and set a $3.50 target price for the company. in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $3.71.

Get Our Latest Analysis on NVTS

Navitas Semiconductor Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NVTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navitas Semiconductor Corporation (NASDAQ:NVTS - Free Report).

Institutional Ownership by Quarter for Navitas Semiconductor (NASDAQ:NVTS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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