Duncan Williams Asset Management LLC Buys New Shares in Navitas Semiconductor Co. (NASDAQ:NVTS)

Duncan Williams Asset Management LLC purchased a new position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 70,000 shares of the company’s stock, valued at approximately $172,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asset Management L.P. boosted its stake in Navitas Semiconductor by 2,656.2% in the second quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock worth $16,834,000 after buying an additional 4,127,940 shares in the last quarter. Intrinsic Edge Capital Management LLC lifted its holdings in shares of Navitas Semiconductor by 91.6% in the 4th quarter. Intrinsic Edge Capital Management LLC now owns 2,717,692 shares of the company’s stock worth $21,932,000 after acquiring an additional 1,299,524 shares during the last quarter. Masters Capital Management LLC boosted its stake in shares of Navitas Semiconductor by 90.0% in the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock valued at $7,467,000 after purchasing an additional 900,000 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Navitas Semiconductor during the 2nd quarter valued at $2,364,000. Finally, Kodai Capital Management LP raised its position in Navitas Semiconductor by 14.3% in the 1st quarter. Kodai Capital Management LP now owns 4,514,576 shares of the company’s stock worth $21,535,000 after purchasing an additional 565,463 shares during the period. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Navitas Semiconductor Price Performance

Navitas Semiconductor stock traded up $0.05 during mid-day trading on Friday, reaching $2.44. 1,615,043 shares of the company traded hands, compared to its average volume of 2,709,159. Navitas Semiconductor Co. has a 52-week low of $2.14 and a 52-week high of $8.44. The firm has a market capitalization of $446.77 million, a price-to-earnings ratio of -4.78 and a beta of 2.38. The firm’s 50 day moving average price is $2.79 and its 200 day moving average price is $3.74.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly 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). Navitas Semiconductor had a negative net margin of 55.70% and a negative return on equity of 22.29%. The company had revenue of $20.50 million for the quarter, compared to analysts’ expectations of $20.01 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. Navitas Semiconductor’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Navitas Semiconductor Co. will post -0.53 EPS for the current year.

Insiders Place Their Bets

In related news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $103,290.00. Following the sale, the director now directly owns 867,848 shares in the company, valued at $2,716,364.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Eugene Sheridan sold 453,190 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total value of $1,373,165.70. Following the completion of the transaction, the chief executive officer now owns 2,608,441 shares in the company, valued at $7,903,576.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Moxam sold 33,000 shares of the company’s 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 transaction, the director now owns 867,848 shares in the company, valued at $2,716,364.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 829,852 shares of company stock worth $2,528,252. Company insiders own 31.80% of the company’s stock.

Analyst Ratings Changes

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

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.