17,860 Shares in Navitas Semiconductor Co. (NASDAQ:NVTS) Bought by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new stake in Navitas Semiconductor Co. (NASDAQ:NVTS) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 17,860 shares of the company’s stock, valued at approximately $44,000.

Other hedge funds have also recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in shares of Navitas Semiconductor by 12.5% in the first quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock valued at $97,000 after buying an additional 2,258 shares during the period. Ensign Peak Advisors Inc grew its holdings in Navitas Semiconductor by 5.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 77,245 shares of the company’s stock worth $304,000 after acquiring an additional 3,800 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Navitas Semiconductor by 5.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 77,940 shares of the company’s stock valued at $306,000 after acquiring an additional 4,000 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Navitas Semiconductor by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock valued at $151,000 after acquiring an additional 4,533 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Navitas Semiconductor by 48.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,826 shares of the company’s stock worth $98,000 after purchasing an additional 8,156 shares during the period. 46.14% of the stock is owned by institutional investors and hedge funds.

Navitas Semiconductor Stock Performance

Navitas Semiconductor stock opened at $2.78 on Tuesday. The stock has a market capitalization of $519.30 million, a price-to-earnings ratio of -6.52 and a beta of 2.36. Navitas Semiconductor Co. has a 52-week low of $1.75 and a 52-week high of $8.44. The stock’s 50 day moving average price is $2.35 and its two-hundred day moving average price is $3.22.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The business had revenue of $21.68 million for the quarter, compared to analyst estimates of $21.93 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. Navitas Semiconductor’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts forecast that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Insider Activity

In related news, CEO Eugene Sheridan sold 453,190 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total value of $1,373,165.70. Following the transaction, the chief executive officer now directly owns 2,608,441 shares in the company, valued at $7,903,576.23. This trade represents a 14.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on NVTS shares. Deutsche Bank Aktiengesellschaft decreased their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Rosenblatt Securities restated a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Robert W. Baird reduced their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Craig Hallum decreased their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Needham & Company LLC dropped their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.75.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.