Wesbanco Bank Inc. Takes $357,000 Position in Navitas Semiconductor Co. (NASDAQ:NVTS)

Wesbanco Bank Inc. acquired a new position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 100,000 shares of the company’s stock, valued at approximately $357,000. Wesbanco Bank Inc. owned about 0.05% of Navitas Semiconductor at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Benjamin Edwards Inc. acquired a new position in Navitas Semiconductor during the third quarter worth $36,000. Bleakley Financial Group LLC acquired a new position in Navitas Semiconductor during the 3rd quarter worth about $41,000. GSA Capital Partners LLP acquired a new position in Navitas Semiconductor during the 3rd quarter worth about $44,000. Algert Global LLC purchased a new position in Navitas Semiconductor during the 2nd quarter valued at about $50,000. Finally, PEAK6 Investments LLC acquired a new position in Navitas Semiconductor in the 3rd quarter valued at about $62,000. 46.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $4.04, for a total value of $323,200.00. Following the completion of the transaction, the director now owns 356,709 shares in the company, valued at $1,441,104.36. This represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 31.80% of the stock is currently owned by corporate insiders.

Navitas Semiconductor Trading Up 3.0 %

Shares of NVTS opened at $3.45 on Friday. The firm’s fifty day simple moving average is $3.31 and its 200-day simple moving average is $3.04. The firm has a market capitalization of $644.46 million, a price-to-earnings ratio of -8.21 and a beta of 2.23. Navitas Semiconductor Co. has a twelve month low of $1.75 and a twelve month high of $7.40.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NVTS shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Craig Hallum reduced 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. Robert W. Baird dropped their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Two 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 currently has an average rating of “Moderate Buy” and a consensus target price of $4.75.

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.