Tidal Investments LLC Boosts Holdings in Navitas Semiconductor Corporation $NVTS

Tidal Investments LLC boosted its holdings in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) by 161.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,132,184 shares of the company’s stock after buying an additional 698,683 shares during the period. Tidal Investments LLC’s holdings in Navitas Semiconductor were worth $20,289,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVTS. DNB Asset Management AS purchased a new position in shares of Navitas Semiconductor during the 4th quarter valued at about $774,000. Bank of New York Mellon Corp grew its position in Navitas Semiconductor by 21.8% during the first quarter. Bank of New York Mellon Corp now owns 566,465 shares of the company’s stock valued at $4,968,000 after acquiring an additional 101,389 shares during the last quarter. Jupiter Topco LLC bought a new position in Navitas Semiconductor during the second quarter valued at approximately $1,649,000. Legal & General Group Plc purchased a new position in shares of Navitas Semiconductor during the second quarter worth approximately $2,782,000. Finally, BlackRock Inc. purchased a new position in shares of Navitas Semiconductor during the second quarter worth approximately $290,970,000. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Navitas Semiconductor Stock Performance

NVTS opened at $11.15 on Friday. Navitas Semiconductor Corporation has a 52-week low of $5.66 and a 52-week high of $34.17. The stock has a market capitalization of $2.91 billion, a PE ratio of -8.38 and a beta of 3.88. The stock’s 50 day moving average price is $12.46 and its 200-day moving average price is $14.87.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Monday, July 27th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The firm had revenue of $10.53 million during the quarter, compared to analysts’ expectations of $9.97 million. During the same period last year, the company posted ($0.25) EPS. The company’s quarterly revenue was down 27.3% compared to the same quarter last year. Research analysts forecast that Navitas Semiconductor Corporation will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NVTS shares. Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price objective on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Morgan Stanley reissued an “underweight” rating and issued a $12.60 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, Jefferies Financial Group set a $13.00 target price on Navitas Semiconductor in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Navitas Semiconductor has an average rating of “Hold” and an average price target of $15.92.

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.