Clear Street Group Inc. Trims Position in Navitas Semiconductor Corporation $NVTS

Clear Street Group Inc. decreased its position in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) by 87.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 34,006 shares of the company’s stock after selling 242,444 shares during the period. Clear Street Group Inc.’s holdings in Navitas Semiconductor were worth $243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Prospera Financial Services Inc raised its stake in Navitas Semiconductor by 3.8% during the third quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock worth $219,000 after purchasing an additional 1,120 shares during the period. Captrust Financial Advisors raised its stake in Navitas Semiconductor by 3.8% during the second quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock worth $300,000 after purchasing an additional 1,667 shares during the period. Wealthcare Advisory Partners LLC raised its stake in Navitas Semiconductor by 16.8% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock worth $86,000 after purchasing an additional 1,725 shares during the period. HighPoint Advisor Group LLC raised its stake in Navitas Semiconductor by 7.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 27,700 shares of the company’s stock worth $198,000 after purchasing an additional 2,000 shares during the period. Finally, Xponance LLC raised its stake in Navitas Semiconductor by 20.3% during the fourth quarter. Xponance LLC now owns 12,558 shares of the company’s stock worth $90,000 after purchasing an additional 2,117 shares during the period. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NVTS shares. Morgan Stanley reaffirmed an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Robert W. Baird increased their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Needham & Company LLC increased their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Finally, Rosenblatt Securities increased their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Two investment 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.87.

Insider Activity

In related news, CEO Chris Allexandre sold 13,323 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total transaction of $423,804.63. Following the completion of the sale, the chief executive officer directly owned 1,072,633 shares of the company’s stock, valued at approximately $34,120,455.73. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard J. Hendrix sold 110,165 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the sale, the director directly owned 101,709 shares of the company’s stock, valued at approximately $2,945,492.64. The trade was a 52.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,989,478 shares of company stock valued at $116,356,387 in the last 90 days. Company insiders own 12.40% of the company’s stock.

Navitas Semiconductor Trading Up 1.5%

Shares of NVTS stock opened at $23.73 on Tuesday. The company’s fifty day simple moving average is $19.36 and its 200-day simple moving average is $12.58. Navitas Semiconductor Corporation has a 52 week low of $5.44 and a 52 week high of $34.17. The company has a market cap of $5.55 billion, a PE ratio of -37.67 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $8.60 million for the quarter, compared to the consensus estimate of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The business’s revenue for the quarter was down 38.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) EPS. Equities research analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Navitas Semiconductor Company 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.