Navitas Semiconductor Corporation $NVTS Stock: Capstone Capital Management Ltd Increases Position

Capstone Capital Management Ltd lifted its stake in Navitas Semiconductor Corporation (NASDAQ:NVTS) by 139.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 166,402 shares of the company’s stock after acquiring an additional 96,949 shares during the period. Navitas Semiconductor accounts for 0.8% of Capstone Capital Management Ltd’s portfolio, making the stock its 23rd largest position. Capstone Capital Management Ltd owned 0.06% of Navitas Semiconductor worth $1,932,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Navitas Semiconductor during the second quarter valued at approximately $290,970,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Navitas Semiconductor during the second quarter worth $75,701,000. Tidal Investments LLC grew its stake in Navitas Semiconductor by 161.2% during the 2nd quarter. Tidal Investments LLC now owns 1,132,184 shares of the company’s stock worth $20,289,000 after buying an additional 698,683 shares during the last quarter. Wellington Management Group LLP purchased a new position in Navitas Semiconductor during the 2nd quarter worth $16,757,000. Finally, Bank of New York Mellon Corp acquired a new position in Navitas Semiconductor during the 2nd quarter valued at about $9,116,000. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NVTS shares. Morgan Stanley reissued an “underweight” rating and issued a $12.60 price target on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Navitas Semiconductor in a research note on Monday, September 14th. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, September 29th. Wall Street Zen lowered shares of Navitas Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Navitas Semiconductor currently has a consensus rating of “Hold” and a consensus target price of $15.92.

Navitas Semiconductor Stock Performance

Shares of NASDAQ:NVTS opened at $8.74 on Wednesday. Navitas Semiconductor Corporation has a 52-week low of $6.85 and a 52-week high of $34.17. The business has a 50-day moving average price of $11.63 and a 200-day moving average price of $15.25.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Monday, July 27th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The business had revenue of $10.53 million during the quarter, compared to analysts’ expectations of $9.97 million. During the same period in the previous year, the business posted ($0.25) EPS. The business’s quarterly revenue was down 27.3% compared to the same quarter last year. Analysts forecast that Navitas Semiconductor Corporation will post -0.31 EPS for the current year.

Navitas Semiconductor Company Profile

Navitas Semiconductor Corporation (NASDAQ:NVTS) develops power semiconductor technologies designed to improve the efficiency, performance and size of electronic systems. The company specializes in gallium nitride (GaN) power integrated circuits and silicon carbide (SiC) devices, which are used to convert and manage electrical power.

Its product portfolio includes GaNFast power ICs, GeneSiC silicon carbide products and related power-management solutions. These technologies are used in applications such as mobile and consumer chargers, data centers, solar inverters, electric vehicles, energy storage systems, appliances and industrial equipment.

Founded in 2014, Navitas serves customers and markets globally through its semiconductor products and engineering support.