86,807 Shares in Navitas Semiconductor Corporation $NVTS Purchased by Havemeyer Place LP

Havemeyer Place LP bought a new position in Navitas Semiconductor Corporation (NASDAQ:NVTS) during the fourth quarter, Holdings Channel reports. The firm bought 86,807 shares of the company’s stock, valued at approximately $620,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of Navitas Semiconductor by 309.4% in the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after acquiring an additional 2,698 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after acquiring an additional 2,942 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Navitas Semiconductor by 116.5% in the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock worth $34,000 after acquiring an additional 2,548 shares during the last quarter. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Navitas Semiconductor in the 4th quarter worth about $45,000. Finally, Harbour Investments Inc. raised its holdings in shares of Navitas Semiconductor by 68,600.0% in the 4th quarter. Harbour Investments Inc. now owns 6,870 shares of the company’s stock worth $49,000 after acquiring an additional 6,860 shares during the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

NASDAQ:NVTS opened at $24.48 on Tuesday. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of -38.86 and a beta of 3.75. Navitas Semiconductor Corporation has a 52 week low of $5.44 and a 52 week high of $34.17. The firm has a 50-day moving average price of $17.95 and a two-hundred day moving average price of $12.06.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. During the same quarter last year, the business posted ($0.06) EPS. Navitas Semiconductor’s quarterly revenue was down 38.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Insider Activity at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 110,165 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the completion of the sale, the director owned 101,709 shares in the company, valued at $2,945,492.64. This trade represents a 52.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Todd Glickman sold 98,152 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the sale, the chief financial officer owned 735,231 shares of the company’s stock, valued at approximately $7,925,790.18. The trade was a 11.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,087,630 shares of company stock worth $117,414,466 over the last 90 days. Corporate insiders own 12.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NVTS. Weiss Ratings lowered shares of Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Robert W. Baird increased their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Needham & Company LLC increased their price objective on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.