First Trust Advisors LP Has $8.27 Million Stock Holdings in Navitas Semiconductor Corporation $NVTS

First Trust Advisors LP trimmed its holdings in Navitas Semiconductor Corporation (NASDAQ:NVTS) by 12.5% during the first quarter, Holdings Channel reports. The institutional investor owned 942,639 shares of the company’s stock after selling 134,494 shares during the quarter. First Trust Advisors LP’s holdings in Navitas Semiconductor were worth $8,267,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Navitas Semiconductor by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock valued at $104,896,000 after buying an additional 1,330,703 shares during the last quarter. State Street Corp raised its holdings in shares of Navitas Semiconductor by 18.0% in the 4th quarter. State Street Corp now owns 8,597,950 shares of the company’s stock worth $61,389,000 after acquiring an additional 1,308,626 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Navitas Semiconductor by 257.8% in the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after acquiring an additional 3,413,394 shares during the last quarter. Geode Capital Management LLC lifted its position in Navitas Semiconductor by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock valued at $31,546,000 after acquiring an additional 501,110 shares in the last quarter. Finally, UBS Group AG lifted its position in Navitas Semiconductor by 131.0% in the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after acquiring an additional 1,875,228 shares in the last quarter. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Stock Performance

Navitas Semiconductor stock opened at $10.86 on Friday. Navitas Semiconductor Corporation has a fifty-two week low of $5.44 and a fifty-two week high of $34.17. The firm’s 50-day simple moving average is $18.74 and its 200 day simple moving average is $14.16. The stock has a market cap of $2.84 billion, a PE ratio of -8.17 and a beta of 3.82.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, July 27th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The firm had revenue of $10.53 million during the quarter, compared to analyst estimates of $9.97 million. During the same quarter last year, the business posted ($0.25) EPS. The company’s revenue for the quarter was down 27.3% on a year-over-year basis. As a group, analysts predict that Navitas Semiconductor Corporation will post -0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Jefferies Financial Group set a $13.00 target price on Navitas Semiconductor in a report on Tuesday. Morgan Stanley restated an “underweight” rating and issued a $12.60 target price on shares of Navitas Semiconductor in a report on Tuesday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 target price on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Finally, Weiss Ratings upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.27.

Insiders Place Their Bets

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $28.11, for a total value of $2,052,030.00. Following the transaction, the director owned 13,964 shares of the company’s stock, valued at approximately $392,528.04. The trade was a 83.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard J. Hendrix sold 110,165 shares of the company’s stock in a transaction on 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 completion of the transaction, the director owned 101,709 shares of the company’s stock, valued at $2,945,492.64. This trade represents a 52.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,989,478 shares of company stock valued at $116,356,387. Insiders own 12.40% of the company’s stock.

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.