Barclays PLC Decreases Stake in Navitas Semiconductor Co. (NASDAQ:NVTS)

Barclays PLC trimmed its position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS - Free Report) by 41.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 195,252 shares of the company's stock after selling 136,282 shares during the quarter. Barclays PLC owned 0.10% of Navitas Semiconductor worth $478,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Navitas Semiconductor by 4.0% in the third quarter. State Street Corp now owns 5,826,638 shares of the company's stock valued at $14,275,000 after acquiring an additional 221,575 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Navitas Semiconductor by 2,656.2% in the second quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company's stock valued at $16,834,000 after purchasing an additional 4,127,940 shares during the period. Squarepoint Ops LLC purchased a new stake in Navitas Semiconductor during the second quarter worth about $2,364,000. Mirabella Financial Services LLP acquired a new position in Navitas Semiconductor during the third quarter worth about $943,000. Finally, Masters Capital Management LLC increased its holdings in Navitas Semiconductor by 90.0% in the second quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company's stock valued at $7,467,000 after buying an additional 900,000 shares in the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVTS. Deutsche Bank Aktiengesellschaft lowered their price target on Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Rosenblatt Securities restated a "buy" rating and issued a $7.50 price target on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Craig Hallum decreased their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Finally, Robert W. Baird cut their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $4.75.

Navitas Semiconductor Trading Down 1.5 %

Shares of Navitas Semiconductor stock traded down $0.05 during mid-day trading on Friday, hitting $3.26. 2,796,267 shares of the stock were exchanged, compared to its average volume of 6,395,254. The company has a 50-day simple moving average of $3.15 and a 200 day simple moving average of $3.06. The stock has a market capitalization of $608.97 million, a price-to-earnings ratio of -7.76 and a beta of 2.23. Navitas Semiconductor Co. has a twelve month low of $1.75 and a twelve month high of $7.40.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its earnings results on Monday, November 4th. The company reported ($0.06) 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 firm had revenue of $21.68 million during the quarter, compared to analysts' expectations of $21.93 million. During the same period in the previous year, the company earned ($0.10) EPS. Navitas Semiconductor's revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the transaction, the director now owns 316,709 shares of the company's stock, valued at $1,437,858.86. This trade represents a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 31.80% of the stock is currently owned by company insiders.

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.