Old West Investment Management LLC Takes Position in Navitas Semiconductor Corporation $NVTS

Key Points

• Old West Investment Management acquired 427,322 Navitas Semiconductor shares worth approximately $7.66 million, representing about 0.16% of the company. Institutional investors collectively own 46.14% of NVTS.
• Company insiders sold nearly 3.99 million shares valued at $116.4 million during the last quarter, including sales by Director Gary Kent Wunderlich Jr. and CEO Chris Allexandre.
• Analysts maintain a mixed outlook, with an overall “Hold” rating and an average price target of $15.92. Navitas reported quarterly revenue of $10.53 million and an adjusted loss of $0.04 per share, while revenue declined 27.3% year over year.

Old West Investment Management LLC bought a new position in Navitas Semiconductor Corporation (NASDAQ:NVTS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 427,322 shares of the company's stock, valued at approximately $7,658,000. Old West Investment Management LLC owned approximately 0.16% of Navitas Semiconductor as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allworth Financial LP grew 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 valued at $26,000 after acquiring an additional 2,698 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Navitas Semiconductor by 189.8% in the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company's stock worth $29,000 after purchasing an additional 2,942 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in shares of Navitas Semiconductor by 247.8% during 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. Geneos Wealth Management Inc. boosted its holdings in shares of Navitas Semiconductor by 3,200.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company's stock valued at $36,000 after purchasing an additional 4,000 shares during the last quarter. Finally, State of Wyoming boosted its holdings in shares of Navitas Semiconductor by 92.8% during the 1st quarter. State of Wyoming now owns 4,803 shares of the company's stock valued at $42,000 after purchasing an additional 2,312 shares during the last quarter. Institutional investors own 46.14% of the company's stock.

Insider Buying and Selling

In other news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.14, for a total transaction of $989,543.10. Following the transaction, the director owned 2,375,060 shares of the company's stock, valued at approximately $66,834,188.40. The trade was a 1.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Chris Allexandre sold 13,323 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $31.81, for a total value of $423,804.63. Following the transaction, the chief executive officer directly owned 1,072,633 shares in the company, valued at approximately $34,120,455.73. This represents a 1.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,989,478 shares of company stock valued at $116,356,387 over the last quarter. Company insiders own 12.40% of the company's stock.

Analysts Set New Price Targets

NVTS has been the topic of several research reports. Morgan Stanley reaffirmed an "underweight" rating and issued a $12.60 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Wall Street Zen raised Navitas Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Robert W. Baird raised their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Weiss Ratings raised Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 17th. Finally, Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $15.92.

Navitas Semiconductor Stock Performance

Shares of NASDAQ NVTS opened at $14.45 on Monday. Navitas Semiconductor Corporation has a 12-month low of $5.44 and a 12-month high of $34.17. The firm's 50-day moving average price is $15.73 and its 200-day moving average price is $14.40. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of -10.86 and a beta of 3.87.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The company reported ($0.04) EPS for the quarter, hitting 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 company had revenue of $10.53 million during the quarter, compared to analyst estimates of $9.97 million. During the same quarter last year, the business posted ($0.25) earnings per share. The firm's revenue was down 27.3% on a year-over-year basis. On average, equities analysts predict that Navitas Semiconductor Corporation will post -0.31 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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