Bayesian Capital Management LP Makes New $284,000 Investment in Navitas Semiconductor Co. (NASDAQ:NVTS)

Bayesian Capital Management LP purchased a new stake in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 59,500 shares of the company’s stock, valued at approximately $284,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of Navitas Semiconductor by 241.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,043 shares of the company’s stock valued at $57,000 after acquiring an additional 4,982 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of Navitas Semiconductor during the 4th quarter valued at $81,000. Benjamin F. Edwards & Company Inc. grew its holdings 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 in the last quarter. SG Americas Securities LLC purchased a new position in shares of Navitas Semiconductor during the 1st quarter valued at $65,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Navitas Semiconductor by 23.9% during the 4th quarter. Victory Capital Management Inc. now owns 15,842 shares of the company’s stock valued at $128,000 after acquiring an additional 3,052 shares in the last quarter. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Navitas Semiconductor Stock Performance

NASDAQ:NVTS opened at $3.71 on Thursday. The firm’s 50-day moving average is $4.16 and its 200-day moving average is $4.77. Navitas Semiconductor Co. has a 52-week low of $3.48 and a 52-week high of $10.90. The company has a market cap of $679.30 million, a price-to-earnings ratio of -7.27 and a beta of 2.42.

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

Wall Street Analyst Weigh In

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

Insider Activity at Navitas Semiconductor

In related news, Director Dipender Saluja sold 87,059 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $4.45, for a total value of $387,412.55. Following the sale, the director now owns 5,944,420 shares of the company’s stock, valued at $26,452,669. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 31.80% of the stock is currently owned by insiders.

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.