11,770 Shares in Navitas Semiconductor Co. (NASDAQ:NVTS) Acquired by DRW Securities LLC

DRW Securities LLC bought a new stake in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,770 shares of the company’s stock, valued at approximately $46,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NVTS. ProShare Advisors LLC boosted its stake in shares of Navitas Semiconductor by 12.5% in the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock valued at $97,000 after purchasing an additional 2,258 shares during the last quarter. Laidlaw Wealth Management LLC grew its holdings in Navitas Semiconductor by 16.7% during the 4th quarter. Laidlaw Wealth Management LLC now owns 18,316 shares of the company’s stock worth $148,000 after acquiring an additional 2,618 shares during the period. Victory Capital Management Inc. raised its position in shares of Navitas Semiconductor by 23.9% in the 4th quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock worth $128,000 after acquiring an additional 3,052 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of Navitas Semiconductor by 5.2% in the 2nd quarter. Ensign Peak Advisors Inc now owns 77,245 shares of the company’s stock valued at $304,000 after purchasing an additional 3,800 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Navitas Semiconductor by 5.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 77,940 shares of the company’s stock valued at $306,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

NVTS stock opened at $2.24 on Wednesday. The business has a 50-day simple moving average of $3.06 and a two-hundred day simple moving average of $3.86. The company has a market capitalization of $410.15 million, a P/E ratio of -4.39 and a beta of 2.40. Navitas Semiconductor Co. has a 52-week low of $2.14 and a 52-week high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $20.50 million during the quarter, compared to analysts’ expectations of $20.01 million. Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) earnings per share. As a group, sell-side analysts forecast that Navitas Semiconductor Co. will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $103,290.00. Following the sale, the director now directly owns 867,848 shares in the company, valued at $2,716,364.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director David Moxam sold 33,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $103,290.00. Following the completion of the transaction, the director now owns 867,848 shares in the company, valued at $2,716,364.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Daniel M. Kinzer sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total transaction of $465,000.00. Following the sale, the chief operating officer now owns 4,388,353 shares of the company’s stock, valued at approximately $13,603,894.30. The disclosure for this sale can be found here. Insiders have sold a total of 829,852 shares of company stock valued at $2,528,252 in the last 90 days. 31.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Needham & Company LLC lowered their target price on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Rosenblatt Securities reissued a “buy” rating and set a $10.00 target price on shares of Navitas Semiconductor in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Morgan Stanley dropped their price target on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Finally, Craig Hallum reduced their price objective on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

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.