Caitong International Asset Management Co. Ltd Sells 32,659 Shares of Navitas Semiconductor Corporation $NVTS

Caitong International Asset Management Co. Ltd trimmed its holdings in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) by 65.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,156 shares of the company’s stock after selling 32,659 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Navitas Semiconductor were worth $122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVTS. Vanguard Group Inc. grew its holdings in Navitas Semiconductor by 10.0% in the fourth quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock worth $104,896,000 after purchasing an additional 1,330,703 shares during the last quarter. State Street Corp increased its stake in shares of Navitas Semiconductor by 18.0% in the fourth quarter. State Street Corp now owns 8,597,950 shares of the company’s stock worth $61,389,000 after acquiring an additional 1,308,626 shares during the period. Invesco Ltd. raised its stake in shares of Navitas Semiconductor by 257.8% during the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after buying an additional 3,413,394 shares during the last quarter. Geode Capital Management LLC raised its position in Navitas Semiconductor by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock valued at $31,546,000 after acquiring an additional 501,110 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after purchasing an additional 1,875,228 shares in the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Price Performance

Navitas Semiconductor stock opened at $23.70 on Tuesday. Navitas Semiconductor Corporation has a 1-year low of $5.44 and a 1-year high of $34.17. The stock has a market cap of $5.54 billion, a PE ratio of -37.62 and a beta of 3.75. The stock’s fifty day moving average is $20.77 and its two-hundred day moving average is $13.10.

Navitas Semiconductor (NASDAQ:NVTS) last posted 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 firm 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 company’s revenue was down 38.7% on a year-over-year basis. During the same period last year, the firm posted ($0.06) EPS. On average, research analysts expect that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Rosenblatt Securities lifted their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Robert W. Baird increased their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Needham & Company LLC lifted their target price 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. Finally, Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.74.

Insider Buying and Selling at Navitas Semiconductor

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

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.