547,247 Shares in Navitas Semiconductor Co. (NASDAQ:NVTS) Bought by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC purchased a new stake in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) in the second quarter, Holdings Channel reports. The firm purchased 547,247 shares of the company’s stock, valued at approximately $2,151,000.

Several other institutional investors have also added to or reduced their stakes in the company. Wedbush Securities Inc. bought a new position in shares of Navitas Semiconductor during the second quarter valued at about $49,000. Benjamin F. Edwards & Company Inc. increased its holdings in Navitas Semiconductor by 72.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock valued at $63,000 after purchasing an additional 5,550 shares during the period. SG Americas Securities LLC bought a new position in Navitas Semiconductor during the 1st quarter valued at approximately $65,000. ProShare Advisors LLC raised its position in Navitas Semiconductor by 12.5% during the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock valued at $97,000 after purchasing an additional 2,258 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Navitas Semiconductor by 23.9% in the 4th quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock worth $128,000 after buying an additional 3,052 shares during the period. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Insider Activity

In related news, Director David Moxam sold 33,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $3.13, for a total value of $103,290.00. Following the transaction, the director now owns 867,848 shares in the company, valued at approximately $2,716,364.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 150,000 shares of Navitas Semiconductor stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total value of $465,000.00. Following the completion of the sale, the chief operating officer now owns 4,388,353 shares of the company’s stock, valued at approximately $13,603,894.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Moxam sold 33,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total value of $103,290.00. Following the completion of the transaction, the director now owns 867,848 shares of the company’s stock, valued at approximately $2,716,364.24. The disclosure for this sale can be found here. Insiders sold 829,852 shares of company stock worth $2,528,252 over the last three months. 31.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Craig Hallum decreased their target price on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC dropped their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Morgan Stanley reduced their price target on shares of Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research report on Tuesday, August 6th. Rosenblatt Securities restated a “buy” rating and issued a $10.00 price objective on shares of Navitas Semiconductor in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Navitas Semiconductor Stock Performance

Shares of NASDAQ NVTS opened at $2.47 on Thursday. The company has a 50 day simple moving average of $3.48 and a two-hundred day simple moving average of $4.09. Navitas Semiconductor Co. has a fifty-two week low of $2.22 and a fifty-two week high of $8.44. The company has a market capitalization of $452.26 million, a price-to-earnings ratio of -4.86 and a beta of 2.40.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The company had revenue of $20.50 million for the quarter, compared to the consensus estimate of $20.01 million. During the same period last year, the business earned ($0.12) EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. On average, analysts forecast that Navitas Semiconductor Co. will post -0.53 earnings per share for the current fiscal year.

Navitas Semiconductor Profile

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.