SG Americas Securities LLC Acquires Shares of 54,261 Navitas Semiconductor Co. (NASDAQ:NVTS)

SG Americas Securities LLC bought a new position in Navitas Semiconductor Co. (NASDAQ:NVTS) in the 3rd quarter, Holdings Channel reports. The firm bought 54,261 shares of the company’s stock, valued at approximately $133,000.

Several other institutional investors have also recently made changes to their positions in the company. DRW Securities LLC bought a new position in Navitas Semiconductor during the 2nd quarter valued at about $46,000. Wedbush Securities Inc. purchased a new position in shares of Navitas Semiconductor during the second quarter valued at approximately $49,000. Algert Global LLC bought a new position in shares of Navitas Semiconductor during the second quarter valued at approximately $50,000. Point72 DIFC Ltd purchased a new stake in shares of Navitas Semiconductor in the second quarter worth approximately $71,000. Finally, ProShare Advisors LLC lifted its stake in shares of Navitas Semiconductor by 12.5% during the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock worth $97,000 after acquiring an additional 2,258 shares during the last quarter. Institutional investors own 46.14% of the company’s stock.

Insider Buying and Selling

In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction dated Thursday, August 15th. The stock was 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 $2,716,364.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Eugene Sheridan sold 453,190 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the transaction, the chief executive officer now directly owns 2,608,441 shares of the company’s stock, valued at approximately $7,903,576.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Moxam sold 33,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $3.13, for a total value of $103,290.00. Following the sale, the director now owns 867,848 shares of the company’s stock, valued at approximately $2,716,364.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 829,852 shares of company stock worth $2,528,252 in the last three months. 31.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. 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. Craig Hallum reduced their price target on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Morgan Stanley decreased their price objective on shares of Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Rosenblatt Securities restated a “buy” rating and issued a $10.00 target price on shares of Navitas Semiconductor in a research note on Friday, August 2nd. Finally, Needham & Company LLC decreased their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Three investment 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 price target of $6.00.

Navitas Semiconductor Stock Performance

NASDAQ:NVTS opened at $2.55 on Friday. The firm has a 50-day simple moving average of $2.57 and a 200-day simple moving average of $3.52. Navitas Semiconductor Co. has a one year low of $2.14 and a one year high of $8.44. The firm has a market cap of $466.91 million, a P/E ratio of -9.11 and a beta of 2.38.

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

Navitas Semiconductor Company 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.