Wesbanco Bank Inc. Takes Position in Navitas Semiconductor Co. (NASDAQ:NVTS)

Wesbanco Bank Inc. purchased a new position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 100,000 shares of the company’s stock, valued at approximately $357,000.

Other large investors have also recently bought and sold shares of the company. Benjamin Edwards Inc. purchased a new stake in shares of Navitas Semiconductor in the third quarter valued at about $36,000. Bleakley Financial Group LLC acquired a new position in Navitas Semiconductor in the 3rd quarter valued at about $41,000. GSA Capital Partners LLP purchased a new stake in Navitas Semiconductor during the 3rd quarter valued at approximately $44,000. Algert Global LLC purchased a new stake in Navitas Semiconductor during the 2nd quarter valued at approximately $50,000. Finally, PEAK6 Investments LLC acquired a new stake in Navitas Semiconductor during the 3rd quarter worth approximately $62,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Insider Activity at Navitas Semiconductor

In related news, Director Richard J. Hendrix sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $4.54, for a total value of $181,600.00. Following the sale, the director now owns 316,709 shares of the company’s stock, valued at approximately $1,437,858.86. This represents a 11.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on NVTS. Deutsche Bank Aktiengesellschaft cut their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Rosenblatt Securities restated a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Craig Hallum lowered their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Robert W. Baird dropped their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Navitas Semiconductor currently has an average rating of “Moderate Buy” and a consensus price target of $4.75.

Navitas Semiconductor Trading Up 3.0 %

NVTS stock opened at $3.45 on Friday. The firm has a 50 day moving average of $3.31 and a 200-day moving average of $3.04. The company has a market cap of $644.46 million, a price-to-earnings ratio of -8.21 and a beta of 2.23. Navitas Semiconductor Co. has a 12-month low of $1.75 and a 12-month high of $7.40.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The company had revenue of $21.68 million for the quarter, compared to the consensus estimate of $21.93 million. Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. Navitas Semiconductor’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) earnings per share. Sell-side analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Navitas Semiconductor 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.