Nisa Investment Advisors LLC Boosts Stock Position in Navitas Semiconductor Corporation $NVTS

Nisa Investment Advisors LLC raised its stake in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) by 451.2% in the third quarter, Holdings Channel reports. The institutional investor owned 64,014 shares of the company’s stock after buying an additional 52,400 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Navitas Semiconductor were worth $462,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NVTS. Geode Capital Management LLC increased its holdings in shares of Navitas Semiconductor by 3.9% during the second quarter. Geode Capital Management LLC now owns 3,340,193 shares of the company’s stock valued at $21,882,000 after acquiring an additional 124,594 shares in the last quarter. Invesco Ltd. grew its position in Navitas Semiconductor by 75.2% during the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock valued at $20,999,000 after purchasing an additional 1,376,205 shares during the last quarter. BNP Paribas Financial Markets grew its position in Navitas Semiconductor by 1,332.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,604,538 shares of the company’s stock valued at $10,510,000 after purchasing an additional 1,492,512 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Navitas Semiconductor by 1,742.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,428,386 shares of the company’s stock valued at $9,356,000 after purchasing an additional 1,350,857 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in Navitas Semiconductor in the second quarter worth about $3,309,000. 46.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NVTS. Needham & Company LLC increased their price target on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Navitas Semiconductor in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group raised Navitas Semiconductor to a “hold” rating in a report on Tuesday, October 28th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.48.

Insider Buying and Selling

In other news, Director Brian Long sold 1,493,046 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $8.54, for a total value of $12,750,612.84. Following the transaction, the director owned 222,349 shares in the company, valued at $1,898,860.46. This represents a 87.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Todd Glickman sold 96,313 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $10.56, for a total transaction of $1,017,065.28. Following the completion of the transaction, the chief financial officer directly owned 891,268 shares in the company, valued at approximately $9,411,790.08. The trade was a 9.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,426,898 shares of company stock valued at $29,360,063 in the last 90 days. Insiders own 29.90% of the company’s stock.

Navitas Semiconductor Stock Up 9.1%

Shares of Navitas Semiconductor stock opened at $10.91 on Friday. Navitas Semiconductor Corporation has a twelve month low of $1.52 and a twelve month high of $17.79. The company’s 50 day moving average is $8.55 and its 200 day moving average is $8.25. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -17.05 and a beta of 3.16.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $10.11 million during the quarter, compared to analyst estimates of $10.00 million. Navitas Semiconductor had a negative net margin of 220.85% and a negative return on equity of 14.86%. The company’s quarterly revenue was down 53.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) EPS. Sell-side analysts expect that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.

Navitas Semiconductor Company Profile

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.