Integrity Alliance LLC. Invests $280,000 in Navitas Semiconductor Corporation $NVTS

Key Points

• Integrity Alliance LLC opened a new position in Navitas Semiconductor during the fourth quarter, buying 39,243 shares worth about $280,000.
• Institutional interest in NVTS has been active, with several hedge funds increasing or initiating stakes; overall, institutional investors own 46.14% of the company.
• Navitas has seen mixed sentiment from Wall Street and insiders: analysts currently have a Hold consensus with a $12.87 target, while insiders have sold shares recently, even as the stock traded at $26.60 and the company reported a smaller-than-expected quarterly loss.

Integrity Alliance LLC. purchased a new position in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 39,243 shares of the company's stock, valued at approximately $280,000.

A number of other hedge funds also recently modified their holdings of the business. DNB Asset Management AS acquired a new position in Navitas Semiconductor in the fourth quarter valued at $774,000. UBS Group AG lifted its holdings in Navitas Semiconductor by 131.0% in the fourth 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 during the period. Diversify Advisory Services LLC acquired a new position in Navitas Semiconductor in the third quarter valued at $960,000. Newbridge Financial Services Group Inc. lifted its holdings in Navitas Semiconductor by 1,425.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 132,874 shares of the company's stock valued at $949,000 after buying an additional 124,164 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Navitas Semiconductor in the fourth quarter valued at $484,000. Institutional investors and hedge funds own 46.14% of the company's stock.

Insiders Place Their Bets

In other Navitas Semiconductor news, CFO Todd Glickman sold 98,152 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $10.78, for a total value of $1,058,078.56. Following the completion of the sale, the chief financial officer directly owned 735,231 shares of the company's stock, valued at approximately $7,925,790.18. This represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Chris Allexandre sold 13,323 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were 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 of the company's stock, valued at $34,120,455.73. This represents a 1.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,096,866 shares of company stock worth $117,496,943 in the last ninety days. 12.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Needham & Company LLC boosted their target price on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Robert W. Baird lifted their price target on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Wall Street Zen raised shares of Navitas Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Morgan Stanley reaffirmed an "underweight" rating and issued a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Navitas Semiconductor in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $12.87.

Navitas Semiconductor Stock Performance

Shares of NVTS stock opened at $26.60 on Friday. Navitas Semiconductor Corporation has a 52-week low of $4.95 and a 52-week high of $33.82. The company has a 50-day simple moving average of $15.81 and a two-hundred day simple moving average of $11.26. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of -42.22 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued 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. Navitas Semiconductor had a negative net margin of 330.67% and a negative return on equity of 14.30%. The business had revenue of $8.60 million during the quarter, compared to the consensus estimate of $8.22 million. During the same period in the prior year, the firm posted ($0.06) EPS. The firm's quarterly revenue was down 38.7% compared to the same quarter last year. On average, sell-side analysts forecast that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

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.

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