Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 67,762 Navitas Semiconductor Corporation $NVTS

Key Points

• Mitsubishi UFJ Asset Management initiated a new position in Navitas Semiconductor, buying 67,762 shares worth about $484,000 in the fourth quarter.
• Several other institutional investors also increased their stakes, and institutions now own 46.14% of the company, though insiders have sold shares recently, including the CFO and a director.
• Navitas reported a quarterly loss of $0.04 per share on revenue of $8.60 million, slightly beating estimates, while analysts currently rate the stock a Hold with a consensus target price of $12.87.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 67,762 shares of the company's stock, valued at approximately $484,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Allworth Financial LP increased its position in Navitas Semiconductor by 309.4% during 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 in the last quarter. NewEdge Advisors LLC grew its stake 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 last quarter. CWM LLC grew its stake in shares of Navitas Semiconductor by 24.7% during the third quarter. CWM LLC now owns 4,515 shares of the company's stock worth $33,000 after buying an additional 893 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Navitas Semiconductor by 116.5% during the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company's stock worth $34,000 after buying an additional 2,548 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Navitas Semiconductor by 1,376.3% during the third quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company's stock worth $38,000 after buying an additional 4,927 shares in the last quarter. Institutional investors own 46.14% of the company's stock.

Analyst Upgrades and Downgrades

NVTS has been the topic of several recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Navitas Semiconductor in a report on Tuesday, April 21st. Robert W. Baird upped their target price on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Rosenblatt Securities increased their target price on Navitas Semiconductor from $7.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Wall Street Zen raised Navitas Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Needham & Company LLC boosted their price target on Navitas Semiconductor from $13.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $12.87.

Navitas Semiconductor Stock Down 15.0%

Shares of NASDAQ:NVTS opened at $19.25 on Wednesday. The firm has a market cap of $4.44 billion, a P/E ratio of -30.56 and a beta of 3.62. Navitas Semiconductor Corporation has a 12-month low of $1.88 and a 12-month high of $23.82. The business has a fifty day simple moving average of $11.74 and a 200 day simple moving average of $10.06.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. The firm had revenue of $8.60 million for the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The business's revenue was down 38.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) EPS. As a group, equities research analysts expect that Navitas Semiconductor Corporation will post -0.26 EPS for the current year.

Insider Activity at Navitas Semiconductor

In other news, CFO Todd Glickman sold 98,152 shares of the business's stock in a transaction that occurred on 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 transaction, the chief financial officer owned 735,231 shares in the company, valued at approximately $7,925,790.18. The trade was a 11.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ranbir Singh sold 389,096 shares of the company's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $9.52, for a total transaction of $3,704,193.92. The disclosure for this sale is available in the SEC filing. Insiders have sold 509,016 shares of company stock worth $4,967,814 over the last ninety days. Insiders own 29.90% of the company's stock.

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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