112,589 Shares in Navitas Semiconductor Corporation $NVTS Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in Navitas Semiconductor Corporation (NASDAQ:NVTS) during the third quarter, HoldingsChannel.com reports. The firm purchased 112,589 shares of the company’s stock, valued at approximately $813,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NVTS. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Navitas Semiconductor in the 2nd quarter worth $70,000. Wealthcare Advisory Partners LLC purchased a new position in shares of Navitas Semiconductor in the 2nd quarter worth about $71,000. Callan Family Office LLC acquired a new position in shares of Navitas Semiconductor in the 2nd quarter valued at about $419,000. Apollon Wealth Management LLC purchased a new stake in shares of Navitas Semiconductor during the 2nd quarter worth about $98,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in Navitas Semiconductor by 63.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 45,533 shares of the company’s stock worth $298,000 after purchasing an additional 17,653 shares in the last quarter. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Stock Up 0.5%

Shares of NASDAQ NVTS opened at $8.62 on Tuesday. Navitas Semiconductor Corporation has a fifty-two week low of $1.52 and a fifty-two week high of $17.79. The business has a 50 day moving average price of $8.91 and a two-hundred day moving average price of $8.56. The firm has a market cap of $1.99 billion, a PE ratio of -13.47 and a beta of 3.16.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, November 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). Navitas Semiconductor had a negative return on equity of 14.86% and a negative net margin of 220.85%.The company had revenue of $10.11 million for the quarter, compared to analyst estimates of $10.00 million. During the same period in the prior year, the company posted ($0.10) EPS. Navitas Semiconductor’s quarterly revenue was down 53.4% on a year-over-year basis. On average, analysts anticipate that Navitas Semiconductor Corporation will post -0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVTS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Thursday, January 22nd. Needham & Company LLC lifted their target price on shares of Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Jefferies Financial Group upgraded Navitas Semiconductor to a “hold” rating in a report on Tuesday, October 28th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $8.00 price objective on shares of Navitas Semiconductor in a research note on Monday, November 10th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.48.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Gary Kent Wunderlich, Jr. sold 49,651 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $9.31, for a total transaction of $462,250.81. Following the completion of the transaction, the director directly owned 86,964 shares of the company’s stock, valued at $809,634.84. This trade represents a 36.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Long sold 48,165 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $8.50, for a total transaction of $409,402.50. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,426,898 shares of company stock valued at $29,360,063 over the last ninety days. 29.90% of the stock is currently owned by corporate insiders.

Navitas Semiconductor Company 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.