GSA Capital Partners LLP Buys New Shares in Navitas Semiconductor Co. (NASDAQ:NVTS)

GSA Capital Partners LLP acquired a new position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,860 shares of the company’s stock, valued at approximately $44,000.

A number of other institutional investors have also recently bought and sold shares of the business. DRW Securities LLC acquired a new stake in shares of Navitas Semiconductor in the second quarter valued at approximately $46,000. Wedbush Securities Inc. acquired a new stake in Navitas Semiconductor during the 2nd quarter valued at $49,000. Algert Global LLC bought a new position in Navitas Semiconductor during the second quarter worth $50,000. SG Americas Securities LLC acquired a new position in shares of Navitas Semiconductor in the first quarter valued at $65,000. Finally, Bleakley Financial Group LLC bought a new position in shares of Navitas Semiconductor in the third quarter valued at about $41,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

NASDAQ:NVTS opened at $2.78 on Tuesday. Navitas Semiconductor Co. has a fifty-two week low of $1.75 and a fifty-two week high of $8.44. The company has a market cap of $519.30 million, a price-to-earnings ratio of -6.52 and a beta of 2.36. The stock has a fifty day moving average price of $2.35 and a 200-day moving average price of $3.22.

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

Insider Buying and Selling

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 193,662 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 2,149,631 shares in the company, valued at $6,513,381.93. The trade was a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on NVTS. Needham & Company LLC reduced their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Craig Hallum dropped their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. Morgan Stanley decreased their price objective 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. Finally, Robert W. Baird dropped their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4.75.

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.