12,855 Shares in Navitas Semiconductor Co. (NASDAQ:NVTS) Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC purchased a new position in Navitas Semiconductor Co. (NASDAQ:NVTSFree Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,855 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds have also made changes to their positions in the company. Merit Financial Group LLC purchased a new stake in Navitas Semiconductor in the 1st quarter worth approximately $48,000. 180 Wealth Advisors LLC lifted its position in Navitas Semiconductor by 7.6% in the 1st quarter. 180 Wealth Advisors LLC now owns 97,602 shares of the company’s stock worth $200,000 after buying an additional 6,920 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Navitas Semiconductor in the 4th quarter worth approximately $94,000. ProShare Advisors LLC raised its holdings in shares of Navitas Semiconductor by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 35,532 shares of the company’s stock worth $127,000 after acquiring an additional 11,692 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Navitas Semiconductor during the fourth quarter worth $52,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Navitas Semiconductor Price Performance

NASDAQ NVTS opened at $7.32 on Friday. Navitas Semiconductor Co. has a fifty-two week low of $1.52 and a fifty-two week high of $9.17. The stock’s 50-day moving average is $3.38 and its two-hundred day moving average is $3.12. The firm has a market cap of $1.40 billion, a P/E ratio of -17.43 and a beta of 2.96.

Navitas Semiconductor (NASDAQ:NVTSGet Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The business had revenue of $14.02 million for the quarter, compared to the consensus estimate of $14.01 million. During the same period last year, the business earned ($0.06) EPS. The firm’s revenue was down 39.7% compared to the same quarter last year. On average, equities analysts expect that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NVTS shares. Robert W. Baird cut their price objective on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Rosenblatt Securities raised their price target on Navitas Semiconductor from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Needham & Company LLC cut their price target on Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Finally, Morgan Stanley lowered shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $2.10 to $1.50 in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $3.79.

Check Out Our Latest Stock Report on Navitas Semiconductor

Insider Activity

In related news, Director Brian Long sold 473,773 shares of Navitas Semiconductor stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $8.35, for a total value of $3,956,004.55. Following the transaction, the director now owns 5,447,218 shares in the company, valued at $45,484,270.30. This trade represents a 8.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eugene Sheridan sold 238,668 shares of Navitas Semiconductor stock in a transaction on Friday, June 13th. The stock was sold at an average price of $7.50, for a total transaction of $1,790,010.00. Following the completion of the transaction, the chief executive officer now owns 461,332 shares in the company, valued at $3,459,990. This trade represents a 34.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,036,189 shares of company stock valued at $99,083,743 over the last 90 days. 29.90% of the stock is currently owned by company insiders.

Navitas Semiconductor Company 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.

See Also

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

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