180 Wealth Advisors LLC Boosts Stake in Navitas Semiconductor Co. (NASDAQ:NVTS)

180 Wealth Advisors LLC raised its position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) by 15.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 90,682 shares of the company’s stock after buying an additional 12,027 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Navitas Semiconductor were worth $324,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its position in shares of 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 during the period. Masters Capital Management LLC boosted its position in shares of 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 buying an additional 900,000 shares during the period. ArrowMark Colorado Holdings LLC boosted its position in shares of Navitas Semiconductor by 31.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock worth $8,713,000 after buying an additional 845,664 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Navitas Semiconductor in the second quarter worth about $2,364,000. Finally, Mirabella Financial Services LLP purchased a new stake in shares of Navitas Semiconductor in the third quarter worth about $943,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Up 13.9 %

Shares of NASDAQ NVTS opened at $3.52 on Thursday. The stock’s 50 day moving average price is $3.11 and its two-hundred day moving average price is $3.06. Navitas Semiconductor Co. has a 52-week low of $1.75 and a 52-week high of $7.40. The stock has a market capitalization of $657.52 million, a P/E ratio of -8.38 and a beta of 2.23.

Navitas Semiconductor (NASDAQ:NVTS) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $21.93 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. Navitas Semiconductor’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts anticipate that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Craig Hallum cut their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Robert W. Baird cut their price target 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. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Navitas Semiconductor has an average rating of “Moderate Buy” and an average price target of $4.75.

Insider Transactions at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 40,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $4.54, for a total transaction of $181,600.00. Following the sale, the director now directly owns 316,709 shares in the company, valued at approximately $1,437,858.86. This represents a 11.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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.