Intech Investment Management LLC Takes $79,000 Position in Navitas Semiconductor Co. (NASDAQ:NVTS)

Intech Investment Management LLC purchased a new stake in Navitas Semiconductor Co. (NASDAQ:NVTS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 32,258 shares of the company’s stock, valued at approximately $79,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of Navitas Semiconductor in the 3rd quarter valued at about $44,000. Bleakley Financial Group LLC acquired a new position in Navitas Semiconductor in the third quarter valued at approximately $41,000. Creative Planning acquired a new stake in Navitas Semiconductor during the 3rd quarter worth $122,000. Duncan Williams Asset Management LLC bought a new stake in shares of Navitas Semiconductor during the 3rd quarter valued at $172,000. Finally, SG Americas Securities LLC bought a new stake in shares of Navitas Semiconductor during the 3rd quarter valued at $133,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Price Performance

Shares of Navitas Semiconductor stock opened at $3.77 on Monday. Navitas Semiconductor Co. has a 1 year low of $1.75 and a 1 year high of $8.44. The company has a market capitalization of $704.24 million, a P/E ratio of -8.98 and a beta of 2.37. The business has a 50-day moving average of $2.48 and a two-hundred day moving average of $3.16.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. The business had revenue of $21.68 million during the quarter, compared to analysts’ expectations of $21.93 million. During the same period in the prior year, the business earned ($0.10) EPS. Navitas Semiconductor’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NVTS shares. Craig Hallum reduced their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Robert W. Baird reduced their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $7.50 price objective on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Navitas Semiconductor currently has an average rating of “Moderate Buy” and a consensus price target of $4.75.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 80,000 shares of Navitas Semiconductor stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $4.04, for a total value of $323,200.00. Following the sale, the director now owns 356,709 shares of the company’s stock, valued at $1,441,104.36. This trade represents a 18.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 31.80% of the stock is currently owned by insiders.

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.