12,614 Shares in Navitas Semiconductor Co. (NASDAQ:NVTS) Purchased by Algert Global LLC

Algert Global LLC acquired a new stake in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,614 shares of the company’s stock, valued at approximately $50,000.

Several other large investors have also bought and sold shares of NVTS. DRW Securities LLC bought a new stake in shares of Navitas Semiconductor during the second quarter valued at approximately $46,000. Wedbush Securities Inc. purchased a new position in shares of Navitas Semiconductor in the second quarter worth $49,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Navitas Semiconductor by 72.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock valued at $63,000 after purchasing an additional 5,550 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Navitas Semiconductor during the first quarter valued at $65,000. Finally, Point72 DIFC Ltd bought a new stake in Navitas Semiconductor in the 2nd quarter worth about $71,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Navitas Semiconductor Stock Performance

NASDAQ NVTS opened at $2.55 on Friday. The business’s fifty day moving average is $2.68 and its 200 day moving average is $3.67. Navitas Semiconductor Co. has a fifty-two week low of $2.14 and a fifty-two week high of $8.44. The company has a market capitalization of $466.91 million, a PE ratio of -5.00 and a beta of 2.38.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $20.50 million for 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 firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) earnings per share. On average, sell-side analysts forecast that Navitas Semiconductor Co. will post -0.53 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Eugene Sheridan sold 193,662 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $3.03, for a total transaction of $586,795.86. Following the sale, the chief executive officer now directly owns 2,149,631 shares in the company, valued at $6,513,381.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Navitas Semiconductor news, CEO Eugene Sheridan sold 193,662 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $3.03, for a total value of $586,795.86. Following the completion of the sale, the chief executive officer now owns 2,149,631 shares in the company, valued at approximately $6,513,381.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Daniel M. Kinzer sold 150,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 829,852 shares of company stock worth $2,528,252 over the last three months. 31.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Navitas Semiconductor 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.