Castleview Partners LLC Acquires Shares of 25,196 Navitas Semiconductor Corporation (NASDAQ:NVTS)

Castleview Partners LLC acquired a new stake in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 25,196 shares of the company’s stock, valued at approximately $52,000.

Other hedge funds have also bought and sold shares of the company. Goodman Financial Corp bought a new position in Navitas Semiconductor during the fourth quarter valued at $36,000. Caption Management LLC bought a new position in shares of Navitas Semiconductor in the fourth quarter worth about $36,000. Tower Research Capital LLC TRC grew its holdings in shares of Navitas Semiconductor by 125.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock worth $37,000 after purchasing an additional 5,726 shares during the last quarter. Steel Grove Capital Advisors LLC bought a new position in shares of Navitas Semiconductor in the fourth quarter worth about $39,000. Finally, Cibc World Markets Corp bought a new position in shares of Navitas Semiconductor in the fourth quarter worth about $42,000. Institutional investors own 46.14% of the company’s stock.

Insider Buying and Selling at Navitas Semiconductor

In related news, Director David Moxam sold 75,000 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $2.08, for a total value of $156,000.00. Following the completion of the transaction, the director now directly owns 792,848 shares of the company’s stock, valued at $1,649,123.84. This trade represents a 8.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Todd Glickman sold 532,342 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $4.49, for a total transaction of $2,390,215.58. Following the completion of the transaction, the chief financial officer now directly owns 234,501 shares of the company’s stock, valued at $1,052,909.49. The trade was a 69.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,084,600 shares of company stock valued at $99,761,157. 29.90% of the stock is currently owned by insiders.

Navitas Semiconductor Price Performance

NASDAQ:NVTS opened at $7.01 on Friday. Navitas Semiconductor Corporation has a 1-year low of $1.52 and a 1-year high of $9.17. The company has a 50-day moving average of $3.91 and a 200 day moving average of $3.27. The firm has a market cap of $1.34 billion, a PE ratio of -13.48 and a beta of 2.96.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The company had revenue of $14.02 million during the quarter, compared to analyst estimates of $14.01 million. Navitas Semiconductor had a negative net margin of 131.83% and a negative return on equity of 22.62%. The firm’s revenue for the quarter was down 39.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. Sell-side analysts anticipate that Navitas Semiconductor Corporation will post -0.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NVTS shares. Needham & Company LLC cut their price target on shares of Navitas Semiconductor from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Rosenblatt Securities upped their price target on shares of Navitas Semiconductor from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Robert W. Baird cut their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft cut shares of Navitas Semiconductor from a “buy” rating to a “hold” rating and set a $3.50 price target on the stock. in a report on Tuesday, June 17th. Finally, Morgan Stanley lowered shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $2.10 to $1.50 in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Navitas Semiconductor currently has a consensus rating of “Moderate Buy” and an average price target of $3.71.

Navitas Semiconductor Profile

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride power integrated circuits, silicon carbide, associated high-speed silicon system controllers, and digital isolators used in power conversion and charging. The company’s products are used in mobile, consumer, data center, solar, electric vehicle, industrial motor drive, smart grid, and transportation applications.