Wellington Management Group LLP Takes Position in Navitas Semiconductor Corporation $NVTS

Key Points

• Wellington Management purchased 935,121 Navitas Semiconductor shares worth approximately $16.8 million, giving it a 0.36% stake. Institutional investors collectively own 46.14% 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 the company remains deeply unprofitable.
• Analyst sentiment is mixed, with two Buy, two Hold, and two Sell ratings; the consensus rating is Hold with a $15.92 target price. NVTS opened at $11.80, well below its 52-week high of $34.17.

Wellington Management Group LLP purchased a new stake in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 935,121 shares of the company's stock, valued at approximately $16,757,000. Wellington Management Group LLP owned approximately 0.36% of Navitas Semiconductor at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in Navitas Semiconductor by 309.4% in the third 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. acquired a new stake in shares of Navitas Semiconductor during the second quarter worth $27,000. NewEdge Advisors LLC raised its holdings 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 purchasing an additional 2,942 shares during the period. Beaird Harris Wealth Management LLC lifted its position in shares of Navitas Semiconductor by 247.8% in the 2nd 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 last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of 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 during the last quarter. 46.14% of the stock is currently owned by institutional investors.

Navitas Semiconductor Stock Performance

NVTS stock opened at $11.80 on Monday. The firm's 50-day moving average is $12.86 and its two-hundred day moving average is $14.77. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of -8.87 and a beta of 3.88. Navitas Semiconductor Corporation has a 52 week low of $5.44 and a 52 week high of $34.17.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NVTS shares. Needham & Company LLC reissued a "buy" rating and issued a $21.00 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Weiss Ratings upgraded Navitas Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, June 17th. Morgan Stanley reissued an "underweight" rating and issued a $12.60 price target on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a research report on Tuesday, July 28th. Finally, Rosenblatt Securities restated a "neutral" rating and set a $13.00 price objective on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Two research 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.com, the company presently has an average rating of "Hold" and a consensus target price 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.

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