Long Corridor Asset Management Ltd Invests $1.79 Million in Navitas Semiconductor Corporation $NVTS

Long Corridor Asset Management Ltd acquired a new stake in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $1,792,000. Navitas Semiconductor comprises about 0.5% of Long Corridor Asset Management Ltd’s portfolio, making the stock its 28th largest position.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Navitas Semiconductor in the 2nd quarter worth approximately $290,970,000. Vanguard Group Inc. grew its holdings in Navitas Semiconductor by 10.0% during the fourth quarter. Vanguard Group Inc. now owns 14,691,351 shares of the company’s stock valued at $104,896,000 after purchasing an additional 1,330,703 shares during the last quarter. State Street Corp grew its holdings in Navitas Semiconductor by 18.0% during the fourth quarter. State Street Corp now owns 8,597,950 shares of the company’s stock valued at $61,389,000 after purchasing an additional 1,308,626 shares during the last quarter. Invesco Ltd. raised its position in shares of Navitas Semiconductor by 257.8% in the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock valued at $33,827,000 after purchasing an additional 3,413,394 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Navitas Semiconductor by 12.8% in the fourth quarter. Geode Capital Management LLC now owns 4,417,408 shares of the company’s stock valued at $31,546,000 after purchasing an additional 501,110 shares during the period. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Stock Performance

NVTS opened at $12.97 on Friday. The business has a 50 day moving average of $14.79 and a 200-day moving average of $14.50. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -9.75 and a beta of 3.86. Navitas Semiconductor Corporation has a 1-year low of $5.44 and a 1-year high of $34.17.

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, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $10.53 million for the quarter, compared to analyst estimates of $9.97 million. Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. Navitas Semiconductor’s revenue was down 27.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. Equities analysts predict that Navitas Semiconductor Corporation will post -0.31 EPS for the current year.

Insider Activity at Navitas Semiconductor

In related news, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the completion of the sale, the chief executive officer owned 1,072,633 shares in the company, valued at approximately $34,120,455.73. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of Navitas Semiconductor stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.11, for a total value of $2,052,030.00. Following the sale, the director directly owned 13,964 shares in the company, valued at approximately $392,528.04. This trade represents a 83.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

NVTS has been the subject of several recent analyst reports. Robert W. Baird upped their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price target 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. Jefferies Financial Group set a $13.00 price target on Navitas Semiconductor in a research report on Tuesday, July 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $21.00 price objective on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.