Havemeyer Place LP Acquires New Stake in Navitas Semiconductor Corporation $NVTS

Havemeyer Place LP acquired a new stake in Navitas Semiconductor Corporation (NASDAQ:NVTS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 86,807 shares of the company’s stock, valued at approximately $620,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP boosted its position in Navitas Semiconductor by 309.4% during the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after acquiring an additional 2,698 shares during the last quarter. NewEdge Advisors LLC boosted its position in Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after acquiring an additional 2,942 shares during the last quarter. GAMMA Investing LLC boosted its position in Navitas Semiconductor by 116.5% during the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after acquiring an additional 2,548 shares during the last quarter. Sarver Vrooman Wealth Advisors bought a new stake in Navitas Semiconductor during the fourth quarter valued at $45,000. Finally, Harbour Investments Inc. boosted its position in Navitas Semiconductor by 68,600.0% during the fourth quarter. Harbour Investments Inc. now owns 6,870 shares of the company’s stock valued at $49,000 after acquiring an additional 6,860 shares during the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Price Performance

NVTS stock opened at $24.48 on Tuesday. The stock has a market capitalization of $5.72 billion, a PE ratio of -38.86 and a beta of 3.75. The company’s 50-day moving average is $17.95 and its 200-day moving average is $12.06. Navitas Semiconductor Corporation has a 1 year low of $5.44 and a 1 year high of $34.17.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $8.22 million. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The business’s revenue was down 38.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) EPS. On average, analysts anticipate that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current fiscal year.

Insider Activity at Navitas Semiconductor

In other news, CFO Todd Glickman sold 98,152 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the transaction, the chief financial officer owned 735,231 shares of the company’s stock, valued at $7,925,790.18. This represents a 11.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $31.81, for a total transaction of $423,804.63. Following the transaction, the chief executive officer directly owned 1,072,633 shares in the company, valued at $34,120,455.73. This trade represents a 1.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 4,087,630 shares of company stock worth $117,414,466. 12.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NVTS has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Weiss Ratings cut shares of Navitas Semiconductor from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Rosenblatt Securities upped their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Robert W. Baird upped their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, Needham & Company LLC upped their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.87.

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.