The Manufacturers Life Insurance Company Has $283,000 Holdings in Navitas Semiconductor Co. (NASDAQ:NVTS)

The Manufacturers Life Insurance Company grew its position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) by 16.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,998 shares of the company’s stock after buying an additional 10,024 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Navitas Semiconductor were worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Rice Hall James & Associates LLC bought a new position in shares of Navitas Semiconductor in the 2nd quarter valued at approximately $2,151,000. Squarepoint Ops LLC bought a new position in shares of Navitas Semiconductor in the second quarter valued at approximately $2,364,000. Masters Capital Management LLC raised its position in shares of 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 purchasing an additional 900,000 shares during the period. Vanguard Group Inc. lifted its stake in shares of Navitas Semiconductor by 2.6% in the first quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company’s stock worth $42,976,000 after buying an additional 232,496 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Navitas Semiconductor during the 1st quarter worth $65,000. Institutional investors own 46.14% of the company’s stock.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $103,290.00. Following the sale, the director now directly owns 867,848 shares of the company’s stock, valued at approximately $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 can be accessed through this link. In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $103,290.00. Following the completion of the transaction, the director now directly owns 867,848 shares of the company’s stock, valued at approximately $2,716,364.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eugene Sheridan sold 193,662 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $3.03, for a total transaction of $586,795.86. Following the completion of the sale, the chief executive officer now owns 2,149,631 shares in the company, valued at $6,513,381.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 829,852 shares of company stock valued at $2,528,252. Company insiders own 31.80% of the company’s stock.

Navitas Semiconductor Trading Down 1.2 %

Shares of NVTS stock opened at $2.56 on Friday. Navitas Semiconductor Co. has a 12 month low of $2.14 and a 12 month high of $8.44. The company has a market capitalization of $468.74 million, a P/E ratio of -5.02 and a beta of 2.38. The stock has a 50 day moving average of $2.63 and a two-hundred day moving average of $3.61.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The firm had revenue of $20.50 million during the quarter, compared to analyst estimates of $20.01 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts predict that Navitas Semiconductor Co. will post -0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NVTS shares. Craig Hallum cut their target price on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their price objective on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Morgan Stanley lowered their target price on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Rosenblatt Securities reiterated a “buy” rating and set a $10.00 price target on shares of Navitas Semiconductor in a report on Friday, August 2nd. Finally, Needham & Company LLC lowered their price objective on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Navitas Semiconductor presently has a consensus rating of “Moderate Buy” and an average price target of $6.00.

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.