Creative Planning Buys Shares of 49,659 Navitas Semiconductor Co. (NASDAQ:NVTS)

Creative Planning purchased a new position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 49,659 shares of the company’s stock, valued at approximately $122,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVTS. DRW Securities LLC acquired a new stake in Navitas Semiconductor during the second quarter worth $46,000. Wedbush Securities Inc. acquired a new stake in shares of Navitas Semiconductor during the 2nd quarter worth about $49,000. Algert Global LLC purchased a new stake in Navitas Semiconductor in the 2nd quarter valued at about $50,000. SG Americas Securities LLC acquired a new position in Navitas Semiconductor in the first quarter valued at about $65,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Navitas Semiconductor during the second quarter valued at about $71,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Stock Down 7.8 %

Shares of Navitas Semiconductor stock opened at $1.88 on Wednesday. Navitas Semiconductor Co. has a fifty-two week low of $1.87 and a fifty-two week high of $8.44. The business’s fifty day moving average is $2.42 and its two-hundred day moving average is $3.37. The firm has a market cap of $344.23 million, a PE ratio of -4.48 and a beta of 2.36.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $21.68 million during the quarter, compared to analyst estimates of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. Navitas Semiconductor’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) earnings per share. Equities research analysts anticipate that Navitas Semiconductor Co. will post -0.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Needham & Company LLC decreased their price target on 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 price target on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Rosenblatt Securities reissued a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Morgan Stanley cut their target price on shares of 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, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Navitas Semiconductor presently has an average rating of “Moderate Buy” and a consensus price target of $4.75.

Insider Transactions at Navitas Semiconductor

In other news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction dated 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 of the company’s stock, valued at approximately $2,716,364.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director David Moxam sold 33,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were 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 of the company’s stock, valued at $2,716,364.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eugene Sheridan sold 193,662 shares of the 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 transaction, the chief executive officer now owns 2,149,631 shares in the company, valued at $6,513,381.93. This trade represents 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 valued at $2,528,252. Corporate insiders own 31.80% of the company’s stock.

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.