BNP Paribas Financial Markets Sells 1,874,898 Shares of Navitas Semiconductor Corporation $NVTS

BNP Paribas Financial Markets lowered its position in Navitas Semiconductor Corporation (NASDAQ:NVTS) by 61.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,174,045 shares of the company’s stock after selling 1,874,898 shares during the period. BNP Paribas Financial Markets owned 0.51% of Navitas Semiconductor worth $8,383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP grew its stake in shares of Navitas Semiconductor by 309.4% in the 3rd 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 last quarter. NewEdge Advisors LLC grew its stake in shares of Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after buying an additional 2,942 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after buying an additional 2,548 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of Navitas Semiconductor by 68,600.0% in the 4th quarter. Harbour Investments Inc. now owns 6,870 shares of the company’s stock worth $49,000 after buying an additional 6,860 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Navitas Semiconductor in the 3rd quarter worth approximately $63,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Wall Street Analyst Weigh In

NVTS has been the topic of several recent research reports. 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 research note on Monday, May 4th. Morgan Stanley restated an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Rosenblatt Securities upped their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Navitas Semiconductor currently has an average rating of “Hold” and an average target price of $12.87.

Navitas Semiconductor Trading Down 6.7%

NVTS stock opened at $22.85 on Wednesday. The stock has a market capitalization of $5.34 billion, a PE ratio of -36.27 and a beta of 3.75. Navitas Semiconductor Corporation has a 12-month low of $5.44 and a 12-month high of $34.17. The stock’s 50 day simple moving average is $18.24 and its 200 day simple moving average is $12.17.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The firm’s quarterly revenue was down 38.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) EPS. On average, research analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ranbir Singh sold 3,060,118 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.29, for a total value of $89,630,856.22. Following the transaction, the director directly owned 15,607,533 shares of the company’s stock, valued at approximately $457,144,641.57. This represents a 16.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard J. Hendrix sold 110,165 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total value of $3,190,378.40. Following the completion of the transaction, the director directly owned 101,709 shares in the company, valued at $2,945,492.64. This trade represents a 52.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,087,630 shares of company stock worth $117,414,466 in the last three months. Corporate 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.