DNB Asset Management AS Makes New Investment in Navitas Semiconductor Corporation $NVTS

DNB Asset Management AS bought a new position in Navitas Semiconductor Corporation (NASDAQ:NVTS) in the fourth quarter, Holdings Channel reports. The firm bought 108,401 shares of the company’s stock, valued at approximately $774,000.

Other hedge funds also recently made changes to their positions in the company. Allworth Financial LP grew its position 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 purchasing an additional 2,698 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after purchasing an additional 2,942 shares in the last quarter. CWM LLC grew its position in shares of Navitas Semiconductor by 24.7% in the third quarter. CWM LLC now owns 4,515 shares of the company’s stock valued at $33,000 after purchasing an additional 893 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Navitas Semiconductor by 116.5% in the fourth quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after purchasing an additional 2,548 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Navitas Semiconductor by 1,376.3% in the third quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock valued at $38,000 after purchasing an additional 4,927 shares in the last quarter. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Navitas Semiconductor

In related news, CFO Todd Glickman sold 98,152 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $10.78, for a total transaction of $1,058,078.56. Following the transaction, the chief financial officer owned 735,231 shares in the company, valued at $7,925,790.18. The trade was a 11.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Chris Allexandre sold 9,236 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total value of $82,477.48. Following the transaction, the chief executive officer owned 813,323 shares in the company, valued at approximately $7,262,974.39. This represents a 1.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 509,016 shares of company stock worth $4,967,814. Company insiders own 12.40% of the company’s stock.

Navitas Semiconductor Stock Up 18.3%

Shares of NVTS stock opened at $22.99 on Thursday. The business has a 50-day moving average price of $13.21 and a two-hundred day moving average price of $10.38. Navitas Semiconductor Corporation has a 12-month low of $1.88 and a 12-month high of $23.82. The firm has a market cap of $5.37 billion, a P/E ratio of -36.49 and a beta of 3.62.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $8.60 million during the quarter, compared to analyst estimates of $8.22 million. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The company’s revenue was down 38.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. As a group, research analysts expect that Navitas Semiconductor Corporation will post -0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NVTS. Morgan Stanley reiterated an “underweight” rating and issued a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Robert W. Baird lifted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Wall Street Zen raised Navitas Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Tuesday, April 21st. Finally, Needham & Company LLC lifted their price objective on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Hold” and an average price target of $12.87.

Navitas Semiconductor 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.