Connor Clark & Lunn Investment Management Ltd. Invests $75.70 Million in Navitas Semiconductor Corporation $NVTS

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Navitas Semiconductor Corporation (NASDAQ:NVTS) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 4,224,400 shares of the company’s stock, valued at approximately $75,701,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.62% of Navitas Semiconductor as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. acquired a new position in Navitas Semiconductor during the second quarter worth about $27,000. Beaird Harris Wealth Management LLC increased its holdings 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 valued at $31,000 after buying an additional 1,239 shares in the last quarter. Allworth Financial LP lifted 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 acquiring an additional 2,698 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Navitas Semiconductor during the 2nd quarter valued at approximately $66,000. Finally, Compass Financial Management LLC purchased a new stake in shares of Navitas Semiconductor during the 2nd quarter worth approximately $71,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

NVTS stock opened at $12.97 on Monday. Navitas Semiconductor Corporation has a 1 year low of $5.44 and a 1 year high of $34.17. The stock’s 50 day moving average price is $14.79 and its 200 day moving average price is $14.54. The firm has a market cap of $3.39 billion, a P/E ratio of -9.75 and a beta of 3.87.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NVTS. Morgan Stanley reaffirmed an “underweight” rating and issued a $12.60 price objective on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Jefferies Financial Group set a $13.00 target price on Navitas Semiconductor in a report on Tuesday, July 28th. Needham & Company LLC restated a “buy” rating and issued a $21.00 price target on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, Robert W. Baird boosted their price objective on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Two 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. Based on data from MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Hold” and a consensus price target of $15.92.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Ranbir Singh sold 3,060,118 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.29, for a total value of $89,630,856.22. Following the transaction, the director owned 15,607,533 shares of the company’s stock, valued at approximately $457,144,641.57. This trade represents a 16.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.11, for a total value of $2,052,030.00. Following the sale, the director owned 13,964 shares in the company, valued at approximately $392,528.04. The trade was a 83.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is currently owned by corporate insiders.

Navitas Semiconductor 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.