Canada Pension Plan Investment Board Buys Shares of 145,600 Navitas Semiconductor Corporation $NVTS

Key Points

• Canada Pension Plan Investment Board acquired 145,600 Navitas Semiconductor shares worth approximately $2.6 million, giving it a 0.06% stake. Institutional investors and hedge funds collectively own 46.14% of the company.
• Navitas reported quarterly revenue of $10.53 million, exceeding estimates of $9.97 million, while posting an adjusted loss of $0.04 per share. Revenue declined 27.3% year over year, and analysts expect a full-year loss of $0.31 per share.
• NVTS shares opened at $11.49, below the analyst consensus price target of $15.92. Analyst sentiment is mixed, with two Buy, two Hold and two Sell ratings.

Canada Pension Plan Investment Board bought a new position in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 145,600 shares of the company's stock, valued at approximately $2,609,000. Canada Pension Plan Investment Board owned 0.06% of Navitas Semiconductor at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NVTS. Rakuten Securities Inc. acquired a new position in shares of Navitas Semiconductor in the 2nd quarter worth approximately $27,000. Beaird Harris Wealth Management LLC increased its holdings in Navitas Semiconductor by 247.8% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company's stock valued at $31,000 after purchasing an additional 1,239 shares during the last quarter. Allworth Financial LP lifted its stake in Navitas Semiconductor by 309.4% during 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 in the last quarter. Global Retirement Partners LLC acquired a new position in Navitas Semiconductor during the second quarter worth $66,000. Finally, Compass Financial Management LLC purchased a new position in shares of Navitas Semiconductor during the second quarter worth $71,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Price Performance

Shares of NVTS stock opened at $11.49 on Monday. Navitas Semiconductor Corporation has a 52 week low of $5.44 and a 52 week high of $34.17. The stock has a market capitalization of $3.00 billion, a PE ratio of -8.64 and a beta of 3.86. The firm has a 50 day moving average of $13.69 and a two-hundred day moving average of $14.67.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported ($0.04) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.04). The business had revenue of $10.53 million for the quarter, compared to analyst estimates of $9.97 million. Navitas Semiconductor had a negative return on equity of 13.13% and a negative net margin of 856.85%.The company's revenue was down 27.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.25) earnings per share. Analysts expect that Navitas Semiconductor Corporation will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NVTS has been the subject of a number of research reports. Wall Street Zen raised Navitas Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Rosenblatt Securities reissued a "neutral" rating and set a $13.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Needham & Company LLC restated a "buy" rating and set a $21.00 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Jefferies Financial Group set a $13.00 target price on Navitas Semiconductor in a research report on Tuesday, July 28th. Finally, Robert W. Baird boosted their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. 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 stock. According to MarketBeat.com, Navitas Semiconductor has an average rating of "Hold" and an average price target 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.

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