Navitas Semiconductor Corporation $NVTS Shares Sold by Clear Street Group Inc.

Clear Street Group Inc. reduced its stake in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) by 87.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,006 shares of the company’s stock after selling 242,444 shares during the period. Clear Street Group Inc.’s holdings in Navitas Semiconductor were worth $243,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NVTS. American Century Companies Inc. grew its holdings in Navitas Semiconductor by 104.8% during the 2nd quarter. American Century Companies Inc. now owns 241,450 shares of the company’s stock worth $1,581,000 after acquiring an additional 123,577 shares in the last quarter. Prudential Financial Inc. acquired a new position in Navitas Semiconductor during the 2nd quarter worth $120,000. New York State Common Retirement Fund grew its holdings in Navitas Semiconductor by 102.7% during the 2nd quarter. New York State Common Retirement Fund now owns 40,255 shares of the company’s stock worth $264,000 after acquiring an additional 20,400 shares in the last quarter. Invesco Ltd. grew its holdings in Navitas Semiconductor by 75.2% during the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock worth $20,999,000 after acquiring an additional 1,376,205 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Navitas Semiconductor by 2,514.3% during the 2nd quarter. Baird Financial Group Inc. now owns 419,237 shares of the company’s stock worth $2,746,000 after acquiring an additional 403,201 shares in the last quarter. 46.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Richard J. Hendrix sold 110,165 shares of Navitas Semiconductor stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.96, for a total value of $3,190,378.40. Following the sale, the director directly owned 101,709 shares in the company, valued at $2,945,492.64. This trade represents a 52.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of Navitas Semiconductor stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.11, for a total transaction of $2,052,030.00. Following the completion of the sale, the director owned 13,964 shares in the company, valued at approximately $392,528.04. This represents a 83.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,989,478 shares of company stock valued at $116,356,387 in the last 90 days. Corporate insiders own 12.40% of the company’s stock.

Navitas Semiconductor Stock Performance

Navitas Semiconductor stock opened at $23.73 on Tuesday. The firm’s 50-day moving average is $19.36 and its 200-day moving average is $12.58. Navitas Semiconductor Corporation has a 1 year low of $5.44 and a 1 year high of $34.17. The company has a market cap of $5.55 billion, a P/E ratio of -37.67 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The firm’s revenue was down 38.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.06) EPS. As a group, sell-side analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

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.