Fortitude Advisory Group L.L.C. Trims Stake in Navitas Semiconductor Corporation $NVTS

Fortitude Advisory Group L.L.C. trimmed its stake in Navitas Semiconductor Corporation (NASDAQ:NVTS) by 75.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,380 shares of the company’s stock after selling 51,115 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Navitas Semiconductor were worth $117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Prospera Financial Services Inc increased its stake in shares of Navitas Semiconductor by 3.8% in the 3rd quarter. Prospera Financial Services Inc now owns 30,285 shares of the company’s stock worth $219,000 after purchasing an additional 1,120 shares in the last quarter. Captrust Financial Advisors increased its stake in Navitas Semiconductor by 3.8% in the 2nd quarter. Captrust Financial Advisors now owns 45,758 shares of the company’s stock worth $300,000 after buying an additional 1,667 shares in the last quarter. Wealthcare Advisory Partners LLC increased its stake in Navitas Semiconductor by 16.8% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 11,996 shares of the company’s stock worth $86,000 after buying an additional 1,725 shares in the last quarter. HighPoint Advisor Group LLC increased its stake in Navitas Semiconductor by 7.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 27,700 shares of the company’s stock worth $198,000 after buying an additional 2,000 shares in the last quarter. Finally, Xponance LLC increased its stake in Navitas Semiconductor by 20.3% in the 4th quarter. Xponance LLC now owns 12,558 shares of the company’s stock worth $90,000 after buying an additional 2,117 shares in the last quarter. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Navitas Semiconductor Stock Up 5.3%

NVTS opened at $23.39 on Friday. The firm has a 50-day simple moving average of $19.06 and a two-hundred day simple moving average of $12.44. Navitas Semiconductor Corporation has a 52 week low of $5.44 and a 52 week high of $34.17. The company has a market capitalization of $5.47 billion, a PE ratio of -37.13 and a beta of 3.75.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The business had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The business’s revenue was down 38.7% on a year-over-year basis. As a group, sell-side analysts expect that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Buying and Selling at Navitas Semiconductor

In related news, CFO Todd Glickman sold 98,152 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total value of $1,058,078.56. Following the completion of the transaction, the chief financial officer owned 735,231 shares of the company’s stock, valued at approximately $7,925,790.18. This trade represents a 11.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total transaction of $423,804.63. Following the completion of the transaction, the chief executive officer directly owned 1,072,633 shares of the company’s stock, valued at approximately $34,120,455.73. The trade was a 1.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 4,087,630 shares of company stock worth $117,414,466. Insiders own 12.40% of the company’s stock.

Wall Street Analysts Forecast Growth

NVTS has been the subject of a number of analyst reports. Weiss Ratings lowered Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Robert W. Baird increased their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Rosenblatt Securities increased their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Navitas Semiconductor has an average rating of “Hold” and an average target price of $12.87.

About Navitas Semiconductor

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.