935,121 Shares in Navitas Semiconductor Corporation $NVTS Purchased by Wellington Management Group LLP

Wellington Management Group LLP purchased a new position in Navitas Semiconductor Corporation (NASDAQ:NVTS) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 935,121 shares of the company’s stock, valued at approximately $16,757,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP boosted its position in shares of Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after purchasing an additional 2,698 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Navitas Semiconductor in the 2nd quarter worth approximately $27,000. NewEdge Advisors LLC lifted its stake in Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after purchasing an additional 2,942 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in Navitas Semiconductor by 247.8% during the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock worth $31,000 after buying an additional 1,239 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Navitas Semiconductor by 3,200.0% during the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after buying an additional 4,000 shares in the last quarter. 46.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Navitas Semiconductor Price Performance

NVTS stock opened at $11.80 on Monday. The firm has a market capitalization of $3.08 billion, a P/E ratio of -8.87 and a beta of 3.88. Navitas Semiconductor Corporation has a 52-week low of $5.44 and a 52-week high of $34.17. The company’s 50 day simple moving average is $12.86 and its 200-day simple moving average is $14.77.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, July 27th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $9.97 million. During the same quarter last year, the business posted ($0.25) EPS. The company’s revenue was down 27.3% on a year-over-year basis. Sell-side analysts predict that Navitas Semiconductor Corporation will post -0.31 EPS for the current fiscal year.

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.