Legal & General Group Plc Invests $2.78 Million in Navitas Semiconductor Corporation $NVTS

Key Points

• Legal & General Group Plc acquired 155,225 shares of Navitas Semiconductor worth approximately $2.78 million, giving it a 0.06% stake. Institutional investors collectively own 46.14% of the company.
• Analyst sentiment remains mixed, with two Buy, two Hold, and two Sell ratings; MarketBeat’s consensus rating is Hold, with an average price target of $15.92.
• Navitas reported quarterly revenue of $10.53 million and a loss of $0.04 per share, matching estimates, though revenue declined 27.3% year over year. The stock opened at $11.80, compared with a 52-week range of $5.44 to $34.17.

Legal & General Group Plc acquired a new position in Navitas Semiconductor Corporation (NASDAQ:NVTS - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 155,225 shares of the company's stock, valued at approximately $2,782,000. Legal & General Group Plc owned 0.06% of Navitas Semiconductor as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP grew its position in Navitas Semiconductor by 309.4% in the 3rd 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. bought a new stake in shares of Navitas Semiconductor during the second quarter valued at approximately $27,000. NewEdge Advisors LLC boosted its position in shares of Navitas Semiconductor by 189.8% during the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company's stock worth $29,000 after buying an additional 2,942 shares during the period. Beaird Harris Wealth Management LLC boosted its position in shares of Navitas Semiconductor by 247.8% during the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company's stock worth $31,000 after buying an additional 1,239 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings 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 worth $36,000 after buying an additional 4,000 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NVTS has been the topic of several recent analyst reports. Jefferies Financial Group set a $13.00 target price on Navitas Semiconductor in a research note on Tuesday, July 28th. Needham & Company LLC reissued a "buy" rating and set a $21.00 price target on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Wall Street Zen upgraded shares of Navitas Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Morgan Stanley reaffirmed an "underweight" rating and issued a $12.60 price objective on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Finally, Weiss Ratings raised shares of Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $15.92.

Navitas Semiconductor Stock Performance

NVTS opened at $11.80 on Friday. Navitas Semiconductor Corporation has a one year low of $5.44 and a one year high of $34.17. The stock's fifty day moving average is $12.86 and its 200-day moving average is $14.73. The company has a market capitalization of $3.08 billion, a PE ratio of -8.87 and a beta of 3.88.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) 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 return on equity of 13.13% and a negative net margin of 856.85%.The business had revenue of $10.53 million during the quarter, compared to analysts' expectations of $9.97 million. During the same quarter last year, the business posted ($0.25) earnings per share. The company's quarterly revenue was down 27.3% on a year-over-year basis. On average, equities research analysts forecast that Navitas Semiconductor Corporation will post -0.31 EPS for the current fiscal year.

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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