180 Wealth Advisors LLC Purchases 15,335 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS)

180 Wealth Advisors LLC lifted its position in Navitas Semiconductor Co. (NASDAQ:NVTS) by 91.2% in the 1st quarter, Holdings Channel reports. The fund owned 32,158 shares of the company’s stock after acquiring an additional 15,335 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Navitas Semiconductor were worth $153,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Navitas Semiconductor by 37.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 905,524 shares of the company’s stock worth $6,293,000 after purchasing an additional 248,143 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Navitas Semiconductor by 9,612.6% in the 3rd quarter. Federated Hermes Inc. now owns 33,800 shares of the company’s stock worth $235,000 after acquiring an additional 33,452 shares in the last quarter. Alpine Global Management LLC purchased a new position in Navitas Semiconductor during the 3rd quarter valued at about $119,000. Seven Eight Capital LP boosted its stake in Navitas Semiconductor by 387.6% during the third quarter. Seven Eight Capital LP now owns 94,018 shares of the company’s stock worth $653,000 after acquiring an additional 74,737 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new stake in Navitas Semiconductor in the third quarter worth about $410,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Insiders Place Their Bets

In other news, Director Dipender Saluja sold 87,059 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $4.45, for a total transaction of $387,412.55. Following the transaction, the director now directly owns 5,944,420 shares of the company’s stock, valued at approximately $26,452,669. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 31.80% of the stock is currently owned by insiders.

Navitas Semiconductor Stock Down 0.8 %

Navitas Semiconductor stock opened at $3.93 on Friday. Navitas Semiconductor Co. has a one year low of $3.48 and a one year high of $11.16. The business’s fifty day moving average is $4.16 and its 200 day moving average is $5.35.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. The company had revenue of $23.18 million for the quarter, compared to analysts’ expectations of $23.15 million. As a group, research analysts anticipate that Navitas Semiconductor Co. will post -0.53 EPS for the current year.

Analysts Set New Price Targets

NVTS has been the subject of several recent research reports. Robert W. Baird lowered their target price on shares of Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of Navitas Semiconductor in a report on Friday, June 7th. Needham & Company LLC dropped their price target on shares of Navitas Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $4.00 price objective (down from $10.00) on shares of Navitas Semiconductor in a research report on Monday, May 13th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $7.41.

Navitas Semiconductor Company 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.