Navitas Semiconductor Co. (NASDAQ:NVTS) Shares Sold by Barclays PLC

Barclays PLC trimmed its position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) by 41.1% during the third quarter, Holdings Channel reports. The firm owned 195,252 shares of the company’s stock after selling 136,282 shares during the quarter. Barclays PLC’s holdings in Navitas Semiconductor were worth $478,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its stake in Navitas Semiconductor by 2,656.2% during the second quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock worth $16,834,000 after purchasing an additional 4,127,940 shares during the period. Masters Capital Management LLC increased its stake in Navitas Semiconductor by 90.0% during the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $7,467,000 after buying an additional 900,000 shares during the period. ArrowMark Colorado Holdings LLC lifted its holdings in Navitas Semiconductor by 31.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock worth $8,713,000 after buying an additional 845,664 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Navitas Semiconductor in the 2nd quarter valued at approximately $2,364,000. Finally, Rice Hall James & Associates LLC purchased a new position in Navitas Semiconductor in the 2nd quarter valued at approximately $2,151,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Trading Down 2.2 %

Shares of NVTS opened at $3.49 on Friday. The company’s 50 day simple moving average is $2.94 and its 200-day simple moving average is $3.11. Navitas Semiconductor Co. has a 12-month low of $1.75 and a 12-month high of $7.51. The firm has a market cap of $651.92 million, a PE ratio of -8.31 and a beta of 2.37.

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

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $4.04, for a total transaction of $323,200.00. Following the completion of the transaction, the director now owns 356,709 shares in the company, valued at approximately $1,441,104.36. This represents a 18.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Craig Hallum reduced their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Robert W. Baird reduced their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered 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. Finally, Rosenblatt Securities restated a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Navitas Semiconductor presently has an average rating of “Moderate Buy” and a consensus price target 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.