Jupiter Topco LLC purchased a new stake in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 91,967 shares of the company's stock, valued at approximately $1,649,000.
Several other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Navitas Semiconductor in the second quarter worth approximately $290,970,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Navitas Semiconductor during the 2nd quarter valued at $75,701,000. Invesco Ltd. lifted its holdings in shares of Navitas Semiconductor by 257.8% during the 4th quarter. Invesco Ltd. now owns 4,737,624 shares of the company's stock valued at $33,827,000 after buying an additional 3,413,394 shares during the period. Marex Group plc grew its holdings in shares of Navitas Semiconductor by 22,203.8% in the fourth quarter. Marex Group plc now owns 2,675,113 shares of the company's stock worth $19,100,000 after acquiring an additional 2,663,119 shares during the period. Finally, Ghisallo Capital Management LLC purchased a new stake in Navitas Semiconductor during the fourth quarter valued at $15,867,000. 46.14% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on NVTS. Weiss Ratings raised shares of Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, June 17th. Morgan Stanley restated an "underweight" rating and set a $12.60 target price on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Needham & Company LLC reaffirmed 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, Wall Street Zen raised Navitas Semiconductor from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $15.92.
Check Out Our Latest Stock Report on Navitas Semiconductor
Navitas Semiconductor Price Performance
NASDAQ NVTS opened at $11.80 on Friday. The stock has a market capitalization of $3.08 billion, a PE ratio of -8.87 and a beta of 3.88. The business has a 50 day simple moving average of $12.86 and a two-hundred day simple moving average of $14.73. Navitas Semiconductor Corporation has a 1-year low of $5.44 and a 1-year high of $34.17.
Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The company reported ($0.04) EPS for the quarter, hitting analysts' consensus estimates of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The business had revenue of $10.53 million during the quarter, compared to analysts' expectations of $9.97 million. During the same period last year, the company posted ($0.25) EPS. The business's revenue was down 27.3% on a year-over-year basis. On average, analysts anticipate that Navitas Semiconductor Corporation will post -0.31 EPS for the current fiscal year.
About Navitas Semiconductor
(
Free Report)
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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