Mariner LLC Decreases Stake in Navitas Semiconductor Co. (NASDAQ:NVTS)

Mariner LLC cut its holdings in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) by 63.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,826 shares of the company’s stock after selling 20,538 shares during the period. Mariner LLC’s holdings in Navitas Semiconductor were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. American Century Companies Inc. grew its stake in Navitas Semiconductor by 52.7% during the 4th quarter. American Century Companies Inc. now owns 15,704 shares of the company’s stock valued at $56,000 after purchasing an additional 5,419 shares in the last quarter. Goodman Financial Corp acquired a new position in shares of Navitas Semiconductor in the 4th quarter valued at approximately $36,000. Cibc World Markets Corp purchased a new position in shares of Navitas Semiconductor during the 4th quarter valued at approximately $42,000. 180 Wealth Advisors LLC grew its position in shares of Navitas Semiconductor by 15.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 90,682 shares of the company’s stock worth $324,000 after buying an additional 12,027 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Navitas Semiconductor in the fourth quarter worth $44,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVTS has been the topic of a number of research analyst reports. Morgan Stanley downgraded shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $2.10 to $1.50 in a research note on Monday, April 7th. Robert W. Baird reduced their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Rosenblatt Securities reissued a “buy” rating and issued a $4.00 price objective on shares of Navitas Semiconductor in a report on Tuesday. Finally, Needham & Company LLC reduced their target price on Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.54.

Navitas Semiconductor Stock Down 1.1 %

NVTS opened at $1.88 on Friday. The company’s 50-day moving average price is $2.04 and its 200 day moving average price is $2.67. Navitas Semiconductor Co. has a fifty-two week low of $1.52 and a fifty-two week high of $5.14. The firm has a market cap of $358.20 million, a price-to-earnings ratio of -4.48 and a beta of 2.24.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The business had revenue of $14.02 million for the quarter, compared to the consensus estimate of $14.01 million. During the same quarter last year, the business posted ($0.06) EPS. The business’s revenue was down 39.7% on a year-over-year basis. Research analysts anticipate that Navitas Semiconductor Co. will post -0.51 earnings per share for the current year.

Insider Activity

In related news, CFO Todd Glickman sold 13,644 shares of Navitas Semiconductor stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total value of $35,337.96. Following the sale, the chief financial officer now directly owns 684,497 shares in the company, valued at $1,772,847.23. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian Long sold 47,189 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $2.36, for a total transaction of $111,366.04. Following the completion of the transaction, the director now owns 31,460 shares of the company’s stock, valued at approximately $74,245.60. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,877 shares of company stock valued at $193,262. 31.80% of the stock is currently owned by company insiders.

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.