Masters Capital Management LLC Grows Stock Position in Navitas Semiconductor Co. (NASDAQ:NVTS)

Masters Capital Management LLC lifted its holdings in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) by 90.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,900,000 shares of the company’s stock after acquiring an additional 900,000 shares during the period. Masters Capital Management LLC owned approximately 1.04% of Navitas Semiconductor worth $7,467,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. DRW Securities LLC acquired a new stake in shares of Navitas Semiconductor during the second quarter worth $46,000. Wedbush Securities Inc. purchased a new position in Navitas Semiconductor in the 2nd quarter worth $49,000. Benjamin F. Edwards & Company Inc. lifted its position in Navitas Semiconductor by 72.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock worth $63,000 after acquiring an additional 5,550 shares during the period. SG Americas Securities LLC purchased a new stake in Navitas Semiconductor during the 1st quarter valued at about $65,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Navitas Semiconductor in the second quarter valued at about $71,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on NVTS. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Craig Hallum lowered their price target on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Morgan Stanley reduced their price objective on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Rosenblatt Securities reissued a “buy” rating and issued a $10.00 price objective on shares of Navitas Semiconductor in a report on Friday, August 2nd. Finally, Needham & Company LLC dropped their target price on Navitas Semiconductor from $7.00 to $5.00 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.00.

Insiders Place Their Bets

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 453,190 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total value of $1,373,165.70. Following the sale, the chief executive officer now owns 2,608,441 shares of the company’s stock, valued at $7,903,576.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Eugene Sheridan sold 453,190 shares of Navitas Semiconductor stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total value of $1,373,165.70. Following the completion of the transaction, the chief executive officer now directly owns 2,608,441 shares in the company, valued at $7,903,576.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Daniel M. Kinzer sold 150,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total value of $465,000.00. Following the sale, the chief operating officer now owns 4,388,353 shares in the company, valued at approximately $13,603,894.30. The disclosure for this sale can be found here. Insiders sold a total of 829,852 shares of company stock valued at $2,528,252 over the last 90 days. 31.80% of the stock is owned by company insiders.

Navitas Semiconductor Stock Performance

Shares of Navitas Semiconductor stock opened at $2.18 on Tuesday. The business’s 50 day moving average price is $3.11 and its 200 day moving average price is $3.88. The company has a market cap of $399.16 million, a price-to-earnings ratio of -4.27 and a beta of 2.40. Navitas Semiconductor Co. has a one year low of $2.17 and a one year high of $8.44.

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

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.