BNP Paribas Financial Markets Sells 1,874,898 Shares of Navitas Semiconductor Corporation $NVTS

BNP Paribas Financial Markets trimmed its position in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) by 61.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,174,045 shares of the company’s stock after selling 1,874,898 shares during the quarter. BNP Paribas Financial Markets’ holdings in Navitas Semiconductor were worth $8,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NVTS. Allworth Financial LP lifted its holdings in shares of Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after buying an additional 2,698 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after buying an additional 2,942 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after buying an additional 2,548 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Navitas Semiconductor by 68,600.0% during the 4th quarter. Harbour Investments Inc. now owns 6,870 shares of the company’s stock valued at $49,000 after buying an additional 6,860 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Navitas Semiconductor during the 3rd quarter valued at $63,000. 46.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NVTS shares. Weiss Ratings cut Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Needham & Company LLC raised their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Robert W. Baird raised their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.87.

Navitas Semiconductor Stock Down 6.7%

Shares of Navitas Semiconductor stock opened at $22.85 on Wednesday. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of -36.27 and a beta of 3.75. The business has a 50-day moving average price of $18.24 and a 200-day moving average price of $12.17. Navitas Semiconductor Corporation has a twelve month low of $5.44 and a twelve month high of $34.17.

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

Insider Activity

In other news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.11, for a total transaction of $2,052,030.00. Following the completion of the transaction, the director owned 13,964 shares in the company, valued at $392,528.04. This trade represents a 83.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Todd Glickman sold 98,152 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total value of $1,058,078.56. Following the transaction, the chief financial officer owned 735,231 shares of the company’s stock, valued at approximately $7,925,790.18. The trade was a 11.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 4,087,630 shares of company stock valued at $117,414,466. 12.40% of the stock is owned by corporate insiders.

Navitas Semiconductor 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.