Centiva Capital LP Acquires Shares of 79,452 Navitas Semiconductor Co. (NASDAQ:NVTS)

Centiva Capital LP purchased a new position in Navitas Semiconductor Co. (NASDAQ:NVTS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 79,452 shares of the company’s stock, valued at approximately $195,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc grew its stake in Navitas Semiconductor by 5.2% in the second quarter. Ensign Peak Advisors Inc now owns 77,245 shares of the company’s stock worth $304,000 after purchasing an additional 3,800 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Navitas Semiconductor by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 77,940 shares of the company’s stock valued at $306,000 after purchasing an additional 4,000 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Navitas Semiconductor by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company’s stock valued at $151,000 after buying an additional 4,533 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Navitas Semiconductor by 48.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,826 shares of the company’s stock worth $98,000 after buying an additional 8,156 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Navitas Semiconductor by 16.2% during the second quarter. The Manufacturers Life Insurance Company now owns 71,998 shares of the company’s stock worth $283,000 after buying an additional 10,024 shares during the period. Institutional investors own 46.14% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard J. Hendrix sold 40,000 shares of Navitas Semiconductor stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $4.54, for a total transaction of $181,600.00. Following the transaction, the director now owns 316,709 shares in the company, valued at approximately $1,437,858.86. This trade represents a 11.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 31.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NVTS shares. Craig Hallum dropped their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday, October 31st. Robert W. Baird lowered their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.75.

Navitas Semiconductor Trading Down 11.8 %

Shares of NVTS stock opened at $3.60 on Friday. The company has a market capitalization of $672.47 million, a P/E ratio of -8.57 and a beta of 2.37. Navitas Semiconductor Co. has a 12-month low of $1.75 and a 12-month high of $8.44. The business’s 50 day moving average is $2.61 and its two-hundred day moving average is $3.17.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The company had revenue of $21.68 million during the quarter, compared to analyst estimates of $21.93 million. During the same quarter in the previous year, the firm earned ($0.10) EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, research analysts predict that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

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.