Jefferies Financial Group Inc. Acquires Shares of 170,984 Navitas Semiconductor Corporation $NVTS

Jefferies Financial Group Inc. bought a new position in Navitas Semiconductor Corporation (NASDAQ:NVTS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 170,984 shares of the company’s stock, valued at approximately $3,064,000.

Several other institutional investors and hedge funds have also made changes to their positions in NVTS. Allworth Financial LP grew its holdings in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock worth $26,000 after purchasing an additional 2,698 shares during the last quarter. Rakuten Securities Inc. purchased a new position in Navitas Semiconductor in the 2nd quarter worth about $27,000. NewEdge Advisors LLC lifted its holdings in Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after buying an additional 2,942 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in Navitas Semiconductor by 247.8% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock valued at $31,000 after buying an additional 1,239 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Navitas Semiconductor by 3,200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock valued at $36,000 after buying an additional 4,000 shares during the period. 46.14% of the stock is currently owned by institutional investors.

Navitas Semiconductor Stock Performance

Shares of Navitas Semiconductor stock opened at $11.49 on Friday. The company has a market capitalization of $3.00 billion, a PE ratio of -8.64 and a beta of 3.86. The company has a 50-day simple moving average of $13.69 and a two-hundred day simple moving average of $14.64. Navitas Semiconductor Corporation has a one year low of $5.44 and a one year high of $34.17.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The company had revenue of $10.53 million during the quarter, compared to the consensus estimate of $9.97 million. During the same period last year, the firm earned ($0.25) earnings per share. Navitas Semiconductor’s revenue was down 27.3% compared to the same quarter last year. On average, equities analysts predict that Navitas Semiconductor Corporation will post -0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Rosenblatt Securities restated a “neutral” rating and issued a $13.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Morgan Stanley reaffirmed an “underweight” rating and set a $12.60 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Robert W. Baird boosted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $21.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.92.

Navitas Semiconductor Company 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.