Algert Global LLC Makes New $50,000 Investment in Navitas Semiconductor Co. (NASDAQ:NVTS)

Algert Global LLC acquired a new stake in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) in the second quarter, HoldingsChannel reports. The firm acquired 12,614 shares of the company’s stock, valued at approximately $50,000.

Several other large investors have also recently made changes to their positions in NVTS. DRW Securities LLC bought a new position in Navitas Semiconductor during the second quarter valued at approximately $46,000. Wedbush Securities Inc. bought a new position in shares of Navitas Semiconductor during the 2nd quarter valued at approximately $49,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Navitas Semiconductor by 72.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 13,200 shares of the company’s stock valued at $63,000 after acquiring an additional 5,550 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Navitas Semiconductor in the first quarter valued at $65,000. Finally, Point72 DIFC Ltd bought a new stake in Navitas Semiconductor in the second quarter worth $71,000. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Stock Performance

Shares of NVTS opened at $2.55 on Friday. The stock has a market capitalization of $466.91 million, a PE ratio of -5.00 and a beta of 2.38. The company has a 50 day moving average price of $2.68 and a 200-day moving average price of $3.67. Navitas Semiconductor Co. has a fifty-two week low of $2.14 and a fifty-two week high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Monday, August 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The company had revenue of $20.50 million for the quarter, compared to the consensus estimate of $20.01 million. Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business posted ($0.12) EPS. Equities research analysts forecast that Navitas Semiconductor Co. will post -0.53 EPS for the current year.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $103,290.00. Following the completion of the sale, the director now directly owns 867,848 shares of the company’s stock, valued at approximately $2,716,364.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, COO Daniel M. Kinzer sold 150,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total transaction of $465,000.00. Following the transaction, the chief operating officer now directly owns 4,388,353 shares of the company’s stock, valued at approximately $13,603,894.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Moxam sold 33,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total value of $103,290.00. Following the completion of the sale, the director now directly owns 867,848 shares of the company’s stock, valued at $2,716,364.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 829,852 shares of company stock worth $2,528,252 over the last quarter. Insiders own 31.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on NVTS. Morgan Stanley dropped their price objective on shares of Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research note on Tuesday, August 6th. Craig Hallum reduced their price objective on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC dropped their target price on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $10.00 price target on shares of Navitas Semiconductor in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

About Navitas Semiconductor

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.