Rockefeller Capital Management L.P. Increases Position in Navitas Semiconductor Corporation $NVTS

Rockefeller Capital Management L.P. boosted its position in Navitas Semiconductor Corporation (NASDAQ:NVTS) by 1,438.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,834 shares of the company’s stock after acquiring an additional 50,334 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Navitas Semiconductor were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in Navitas Semiconductor by 257.8% during the fourth quarter. Invesco Ltd. now owns 4,737,624 shares of the company’s stock worth $33,827,000 after purchasing an additional 3,413,394 shares during the last quarter. Marex Group plc increased its position in shares of Navitas Semiconductor by 22,203.8% during the 4th quarter. Marex Group plc now owns 2,675,113 shares of the company’s stock valued at $19,100,000 after purchasing an additional 2,663,119 shares during the last quarter. Ghisallo Capital Management LLC bought a new position in shares of Navitas Semiconductor during the 4th quarter valued at about $15,867,000. UBS Group AG raised its holdings in shares of Navitas Semiconductor by 131.0% during the 4th quarter. UBS Group AG now owns 3,307,036 shares of the company’s stock valued at $23,612,000 after buying an additional 1,875,228 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Navitas Semiconductor during the 3rd quarter valued at about $11,243,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NVTS. Needham & Company LLC upped their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Morgan Stanley reaffirmed an “underweight” rating and issued a $13.70 price objective on shares of Navitas Semiconductor in a research note on Wednesday, May 6th. Finally, Robert W. Baird lifted their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.74.

Navitas Semiconductor Price Performance

NVTS opened at $14.18 on Tuesday. The stock’s 50 day simple moving average is $21.60 and its 200 day simple moving average is $13.68. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of -22.78 and a beta of 3.82. Navitas Semiconductor Corporation has a 1 year low of $5.44 and a 1 year high of $34.17.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The business’s revenue was down 38.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. As a group, sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.39 EPS for the current year.

Insider Activity

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.14, for a total value of $989,543.10. Following the transaction, the director owned 2,375,060 shares in the company, valued at approximately $66,834,188.40. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard J. Hendrix sold 110,165 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the transaction, the director directly owned 101,709 shares of the company’s stock, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. 12.40% of the stock is owned by corporate insiders.

Navitas Semiconductor Profile

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.