The Manufacturers Life Insurance Company Takes $2.26 Million Position in Navitas Semiconductor Corporation $NVTS

The Manufacturers Life Insurance Company acquired a new stake in Navitas Semiconductor Corporation (NASDAQ:NVTS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 125,938 shares of the company’s stock, valued at approximately $2,257,000.

A number of other institutional investors have also bought and sold shares of the business. Rakuten Securities Inc. purchased a new position in shares of Navitas Semiconductor during the 2nd quarter worth $27,000. Beaird Harris Wealth Management LLC boosted its position 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 worth $31,000 after purchasing an additional 1,239 shares during the period. Allworth Financial LP grew its stake in shares of Navitas Semiconductor by 309.4% in the third quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after buying an additional 2,698 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Navitas Semiconductor in the 2nd quarter valued at $66,000. Finally, Compass Financial Management LLC acquired a new position in Navitas Semiconductor during the 2nd quarter worth about $71,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Jefferies Financial Group set a $13.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Weiss Ratings upgraded shares of Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $12.60 price target on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Navitas Semiconductor currently has a consensus rating of “Hold” and a consensus price target of $15.92.

Navitas Semiconductor Trading Up 2.5%

Shares of NVTS opened at $11.21 on Thursday. Navitas Semiconductor Corporation has a twelve month low of $5.44 and a twelve month high of $34.17. The firm’s fifty day simple moving average is $13.10 and its 200-day simple moving average is $14.73. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -8.43 and a beta of 3.88.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Monday, July 27th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $10.53 million during the quarter, compared to the consensus estimate of $9.97 million. Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The company’s revenue was down 27.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. On average, analysts predict that Navitas Semiconductor Corporation will post -0.31 earnings per share for the current fiscal year.

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.