Vanguard Group Inc. Purchases 1,330,703 Shares of Navitas Semiconductor Corporation $NVTS

Key Points

• Vanguard increased its stake in Navitas Semiconductor by 10% in the fourth quarter, buying 1,330,703 additional shares and bringing its total holding to 14.69 million shares worth about $104.9 million.
• Navitas reported mixed quarterly results, posting a smaller-than-expected loss of $0.04 per share and revenue of $8.6 million, but revenue still fell 38.7% from a year earlier.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $12.87, even as some firms raised targets and one maintained a sell rating.

Vanguard Group Inc. lifted its position in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,691,351 shares of the company's stock after purchasing an additional 1,330,703 shares during the period. Vanguard Group Inc. owned 6.37% of Navitas Semiconductor worth $104,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in NVTS. Allworth Financial LP grew its position in 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 in the last quarter. NewEdge Advisors LLC grew its position in Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company's stock worth $29,000 after buying an additional 2,942 shares in the last quarter. CWM LLC grew its position in Navitas Semiconductor by 24.7% during the third quarter. CWM LLC now owns 4,515 shares of the company's stock worth $33,000 after buying an additional 893 shares in the last quarter. GAMMA Investing LLC grew its position in Navitas Semiconductor by 116.5% during the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company's stock worth $34,000 after buying an additional 2,548 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Navitas Semiconductor by 1,376.3% during the third quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company's stock worth $38,000 after buying an additional 4,927 shares in the last quarter. Institutional investors own 46.14% of the company's stock.

Navitas Semiconductor Stock Performance

Shares of NVTS stock opened at $19.25 on Wednesday. The stock's fifty day moving average price is $11.74 and its two-hundred day moving average price is $10.06. The company has a market cap of $4.44 billion, a PE ratio of -30.56 and a beta of 3.62. Navitas Semiconductor Corporation has a fifty-two week low of $1.88 and a fifty-two week high of $23.82.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. The firm had revenue of $8.60 million for the quarter, compared to the consensus estimate of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The company's revenue was down 38.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. On average, equities analysts predict that Navitas Semiconductor Corporation will post -0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NVTS has been the topic of a number of analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Rosenblatt Securities increased their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Wall Street Zen raised Navitas Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday. Morgan Stanley reissued an "underweight" rating and set a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Finally, Robert W. Baird raised their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Navitas Semiconductor presently has a consensus rating of "Hold" and an average target price of $12.87.

Insider Activity

In other news, CFO Todd Glickman sold 98,152 shares of Navitas Semiconductor stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total value of $1,058,078.56. Following the completion of the transaction, the chief financial officer directly owned 735,231 shares of the company's stock, valued at approximately $7,925,790.18. This trade represents a 11.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ranbir Singh sold 389,096 shares of Navitas Semiconductor stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $9.52, for a total value of $3,704,193.92. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 509,016 shares of company stock worth $4,967,814. Insiders own 29.90% of the company's stock.

Navitas Semiconductor 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.

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