Centiva Capital LP Invests $195,000 in Navitas Semiconductor Co. (NASDAQ:NVTS)

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

Several other large investors have also added to or reduced their stakes in the business. ArrowMark Colorado Holdings LLC grew its stake in Navitas Semiconductor by 31.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock valued at $8,713,000 after purchasing an additional 845,664 shares in the last quarter. Benjamin Edwards Inc. bought a new position in shares of Navitas Semiconductor in the 3rd quarter valued at about $36,000. Walleye Capital LLC acquired a new position in shares of Navitas Semiconductor during the 3rd quarter worth about $283,000. PEAK6 Investments LLC acquired a new stake in Navitas Semiconductor in the 3rd quarter valued at about $62,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Navitas Semiconductor by 9.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,141 shares of the company’s stock worth $517,000 after buying an additional 17,390 shares during the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Trading Down 11.8 %

NVTS stock opened at $3.60 on Friday. The firm’s 50-day moving average price is $2.61 and its two-hundred day moving average price is $3.17. The stock has a market capitalization of $672.47 million, a price-to-earnings 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.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Navitas Semiconductor

In related news, Director Richard J. Hendrix sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $4.04, for a total value of $323,200.00. Following the sale, the director now owns 356,709 shares in the company, valued at approximately $1,441,104.36. This trade represents a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 31.80% of the company’s stock.

Navitas Semiconductor 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.