Hsbc Holdings PLC Makes New $1.04 Million Investment in Navitas Semiconductor Corporation $NVTS

Hsbc Holdings PLC bought a new stake in Navitas Semiconductor Corporation (NASDAQ:NVTS) during the 2nd quarter, Holdings Channel reports. The firm bought 58,099 shares of the company’s stock, valued at approximately $1,041,000.

Several other hedge funds have also made changes to their positions in the company. Allworth Financial LP increased its holdings 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 worth $26,000 after buying an additional 2,698 shares during the last quarter. Rakuten Securities Inc. acquired a new position in Navitas Semiconductor in the second quarter valued at approximately $27,000. NewEdge Advisors LLC lifted its holdings in Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after acquiring an additional 2,942 shares during the last quarter. Beaird Harris Wealth Management LLC grew its position in Navitas Semiconductor by 247.8% in the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock worth $31,000 after acquiring an additional 1,239 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

NASDAQ:NVTS opened at $10.94 on Wednesday. Navitas Semiconductor Corporation has a fifty-two week low of $5.44 and a fifty-two week high of $34.17. The company has a 50 day moving average price of $13.24 and a 200 day moving average price of $14.71. The stock has a market capitalization of $2.86 billion, a P/E ratio of -8.23 and a beta of 3.88.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, July 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%.The company had revenue of $10.53 million for the quarter, compared to analyst estimates of $9.97 million. During the same quarter in the previous year, the company earned ($0.25) earnings per share. The firm’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 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NVTS shares. Needham & Company LLC reissued a “buy” rating and set a $21.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Jefferies Financial Group set a $13.00 price target on Navitas Semiconductor in a research note on Tuesday, July 28th. Wall Street Zen upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley reissued an “underweight” rating and set a $12.60 price objective on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $13.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Navitas Semiconductor currently has an average rating of “Hold” and an average price target of $15.92.

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.