Mirabella Financial Services LLP Invests $943,000 in Navitas Semiconductor Co. (NASDAQ:NVTS)

Mirabella Financial Services LLP purchased a new stake in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 409,966 shares of the company’s stock, valued at approximately $943,000. Mirabella Financial Services LLP owned approximately 0.22% of Navitas Semiconductor at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rice Hall James & Associates LLC purchased a new position in shares of Navitas Semiconductor in the 2nd quarter worth approximately $2,151,000. Point72 Asset Management L.P. lifted its holdings in Navitas Semiconductor by 2,656.2% during the second quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company’s stock worth $16,834,000 after acquiring an additional 4,127,940 shares during the period. Squarepoint Ops LLC purchased a new position in Navitas Semiconductor in the second quarter worth $2,364,000. Masters Capital Management LLC boosted its position in Navitas Semiconductor by 90.0% in the second quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $7,467,000 after purchasing an additional 900,000 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Navitas Semiconductor by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company’s stock valued at $42,976,000 after purchasing an additional 232,496 shares during the period. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Navitas Semiconductor Trading Up 14.9 %

NVTS opened at $2.78 on Tuesday. Navitas Semiconductor Co. has a 12 month low of $1.75 and a 12 month high of $8.44. The company has a market cap of $519.30 million, a PE ratio of -6.62 and a beta of 2.36. The company has a 50 day moving average of $2.35 and a 200 day moving average of $3.22.

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

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 193,662 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $3.03, for a total value of $586,795.86. Following the completion of the transaction, the chief executive officer now directly owns 2,149,631 shares of the company’s stock, valued at $6,513,381.93. This trade represents a 8.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 31.80% of the company’s stock.

Analyst Upgrades and Downgrades

NVTS has been the topic of a number of recent analyst reports. Robert W. Baird lowered their target price on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Needham & Company LLC decreased their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $7.50 price objective on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Finally, Morgan Stanley reduced their price objective on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.75.

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.