Duncan Williams Asset Management LLC Makes New $172,000 Investment in Navitas Semiconductor Co. (NASDAQ:NVTS)

Duncan Williams Asset Management LLC purchased a new stake in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 70,000 shares of the company’s stock, valued at approximately $172,000.

A number of other hedge funds have also recently made changes to their positions in the company. ProShare Advisors LLC raised its holdings in Navitas Semiconductor by 12.5% during the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company’s stock worth $97,000 after purchasing an additional 2,258 shares during the last quarter. Ensign Peak Advisors Inc increased its stake in Navitas Semiconductor by 5.2% in the second 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 in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Navitas Semiconductor by 5.4% during the second 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 during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Navitas Semiconductor by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock worth $151,000 after purchasing an additional 4,533 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Navitas Semiconductor by 72.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock valued at $63,000 after buying an additional 5,550 shares during the period. 46.14% of the stock is owned by institutional investors and hedge funds.

Navitas Semiconductor Price Performance

Shares of NASDAQ NVTS traded up $0.05 during trading on Friday, hitting $2.44. The stock had a trading volume of 1,615,043 shares, compared to its average volume of 2,709,159. The firm has a fifty day moving average of $2.79 and a two-hundred day moving average of $3.74. The company has a market capitalization of $446.77 million, a PE ratio of -4.78 and a beta of 2.38. Navitas Semiconductor Co. has a 12 month low of $2.14 and a 12 month high of $8.44.

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

Insider Buying and Selling

In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 150,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total value of $465,000.00. Following the completion of the transaction, the chief operating officer now owns 4,388,353 shares in the company, valued at $13,603,894.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director David Moxam sold 33,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $3.13, for a total value of $103,290.00. Following the sale, the director now directly owns 867,848 shares in the company, valued at approximately $2,716,364.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Daniel M. Kinzer sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 in the company, valued at $13,603,894.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 829,852 shares of company stock worth $2,528,252. 31.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

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