Long Corridor Asset Management Ltd Makes New $1.79 Million Investment in Navitas Semiconductor Corporation $NVTS

Long Corridor Asset Management Ltd acquired a new stake in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $1,792,000. Navitas Semiconductor makes up about 0.5% of Long Corridor Asset Management Ltd’s holdings, making the stock its 28th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP increased its position in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after acquiring an additional 2,698 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Navitas Semiconductor in the 2nd quarter valued at approximately $27,000. NewEdge Advisors LLC boosted its stake in Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock worth $29,000 after purchasing an additional 2,942 shares during the period. Beaird Harris Wealth Management LLC boosted its stake in Navitas Semiconductor by 247.8% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock worth $31,000 after purchasing an additional 1,239 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in Navitas Semiconductor by 3,200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after purchasing an additional 4,000 shares during the period. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVTS has been the topic of several recent analyst reports. Rosenblatt Securities reissued a “neutral” rating and set a $13.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Robert W. Baird lifted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, Morgan Stanley restated an “underweight” rating and set a $12.60 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 issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.92.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 110,165 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.96, for a total value of $3,190,378.40. Following the completion of the sale, the director directly owned 101,709 shares of the company’s stock, valued at $2,945,492.64. The trade was a 52.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total transaction of $423,804.63. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is owned by corporate insiders.

Navitas Semiconductor Price Performance

NVTS stock opened at $12.97 on Friday. The company has a 50 day moving average of $14.79 and a two-hundred day moving average of $14.50. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -9.75 and a beta of 3.86. Navitas Semiconductor Corporation has a 12-month low of $5.44 and a 12-month high of $34.17.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $10.53 million for the quarter, compared to the consensus estimate 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 for the quarter was down 27.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.25) earnings per share. On average, research analysts anticipate that Navitas Semiconductor Corporation will post -0.31 EPS for the current 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.