Stifel Financial Corp Sells 37,425 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS)

Stifel Financial Corp reduced its position in Navitas Semiconductor Co. (NASDAQ:NVTS) by 29.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 90,400 shares of the company’s stock after selling 37,425 shares during the period. Stifel Financial Corp’s holdings in Navitas Semiconductor were worth $221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin Edwards Inc. acquired a new stake in Navitas Semiconductor in the third quarter valued at approximately $36,000. Bleakley Financial Group LLC purchased a new stake in shares of Navitas Semiconductor during the 3rd quarter valued at $41,000. GSA Capital Partners LLP acquired a new stake in shares of Navitas Semiconductor in the 3rd quarter worth $44,000. DRW Securities LLC purchased a new position in Navitas Semiconductor during the 2nd quarter worth $46,000. Finally, Wedbush Securities Inc. acquired a new position in Navitas Semiconductor during the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Insider Transactions at Navitas Semiconductor

In related news, Director Richard J. Hendrix sold 80,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $4.04, for a total value of $323,200.00. Following the completion of the transaction, the director now directly owns 356,709 shares in the company, valued at $1,441,104.36. The trade was a 18.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 31.80% of the company’s stock.

Navitas Semiconductor Trading Down 2.2 %

NVTS opened at $4.03 on Monday. The firm has a 50 day moving average of $2.85 and a two-hundred day moving average of $3.11. The firm has a market capitalization of $752.79 million, a PE ratio of -9.60 and a beta of 2.37. Navitas Semiconductor Co. has a 12-month low of $1.75 and a 12-month high of $8.39.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $21.68 million during the quarter, compared to the consensus estimate of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) earnings per share. As a group, analysts predict that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NVTS. Rosenblatt Securities reissued a “buy” rating and issued a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday, October 31st. Craig Hallum lowered their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $4.75.

About Navitas Semiconductor

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.