Tidal Investments LLC Acquires 698,683 Shares of Navitas Semiconductor Corporation $NVTS

Key Points

• Tidal Investments increased its Navitas Semiconductor stake by 161.2% in the second quarter, acquiring 698,683 shares and bringing its total holdings to 1.13 million shares, or approximately 0.43% of the company.
• Navitas reported quarterly revenue of $10.53 million, above analysts’ $9.97 million estimate, while matching the consensus loss of $0.04 per share. Revenue declined 27.3% year over year, and analysts expect a full-year loss of $0.31 per share.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $15.92, compared with the stock’s recent opening price of $11.15.

Tidal Investments LLC grew its holdings in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Free Report) by 161.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,132,184 shares of the company's stock after acquiring an additional 698,683 shares during the period. Tidal Investments LLC owned about 0.43% of Navitas Semiconductor worth $20,289,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NVTS. Allworth Financial LP lifted its position in shares of 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 period. Rakuten Securities Inc. bought a new position in Navitas Semiconductor during the second quarter worth $27,000. NewEdge Advisors LLC raised its stake in 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. Beaird Harris Wealth Management LLC lifted its holdings in Navitas Semiconductor by 247.8% in the second quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company's stock valued at $31,000 after buying an additional 1,239 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Navitas Semiconductor by 3,200.0% in the first quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company's stock valued at $36,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 46.14% of the company's stock.

Navitas Semiconductor Price Performance

NASDAQ NVTS opened at $11.15 on Friday. The company has a fifty day moving average price of $12.46 and a 200-day moving average price of $14.87. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -8.38 and a beta of 3.88. Navitas Semiconductor Corporation has a 1 year low of $5.66 and a 1 year high of $34.17.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The company reported ($0.04) EPS for the quarter, meeting analysts' consensus estimates 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 the consensus estimate of $9.97 million. During the same period last year, the business posted ($0.25) earnings per share. Navitas Semiconductor's revenue was down 27.3% on a year-over-year basis. On average, research analysts anticipate that Navitas Semiconductor Corporation will post -0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $21.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Rosenblatt Securities reissued a "neutral" rating and set a $13.00 price objective on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Morgan Stanley reissued an "underweight" rating and set a $12.60 price objective on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Finally, Jefferies Financial Group set a $13.00 target price on Navitas Semiconductor in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.92.

About Navitas Semiconductor

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.