Tower Research Capital LLC TRC Grows Stock Position in Navitas Semiconductor Co. (NASDAQ:NVTS)

Tower Research Capital LLC TRC lifted its holdings in Navitas Semiconductor Co. (NASDAQ:NVTS) by 241.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,043 shares of the company’s stock after acquiring an additional 4,982 shares during the period. Tower Research Capital LLC TRC’s holdings in Navitas Semiconductor were worth $57,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NVTS. Kodai Capital Management LP acquired a new position in Navitas Semiconductor in the fourth quarter worth about $31,869,000. Alpha DNA Investment Management LLC bought a new position in shares of Navitas Semiconductor during the fourth quarter worth about $469,000. Laidlaw Wealth Management LLC increased its holdings in shares of Navitas Semiconductor by 16.7% in the 4th quarter. Laidlaw Wealth Management LLC now owns 18,316 shares of the company’s stock worth $148,000 after acquiring an additional 2,618 shares during the period. 1492 Capital Management LLC bought a new stake in shares of Navitas Semiconductor during the fourth quarter valued at approximately $2,493,000. Finally, Trexquant Investment LP acquired a new position in Navitas Semiconductor during the 4th quarter worth $1,729,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Insider Activity

In other news, CEO Eugene Sheridan sold 38,431 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $184,468.80. Following the completion of the transaction, the chief executive officer now directly owns 3,061,631 shares of the company’s stock, valued at approximately $14,695,828.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Ranbir Singh sold 10,925 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $52,440.00. Following the transaction, the executive vice president now owns 29,357 shares of the company’s stock, valued at approximately $140,913.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eugene Sheridan sold 38,431 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $184,468.80. Following the completion of the sale, the chief executive officer now owns 3,061,631 shares of the company’s stock, valued at $14,695,828.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,429 shares of company stock worth $352,459. Company insiders own 36.80% of the company’s stock.

Navitas Semiconductor Trading Down 0.2 %

Navitas Semiconductor stock traded down $0.01 during mid-day trading on Monday, hitting $4.45. 2,044,531 shares of the company’s stock were exchanged, compared to its average volume of 2,894,927. Navitas Semiconductor Co. has a 1-year low of $3.54 and a 1-year high of $11.16. The stock has a market cap of $797.66 million, a P/E ratio of -5.06 and a beta of 2.54. The stock has a 50 day moving average of $4.80 and a two-hundred day moving average of $6.01.

Navitas Semiconductor (NASDAQ:NVTS) last posted its earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $26.06 million for the quarter, compared to analyst estimates of $25.68 million. Navitas Semiconductor had a negative net margin of 183.04% and a negative return on equity of 18.81%. As a group, research analysts predict that Navitas Semiconductor Co. will post -0.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Northland Securities initiated coverage on shares of Navitas Semiconductor in a research report on Tuesday, January 16th. They issued a “market perform” rating on the stock. Needham & Company LLC reduced their target price on Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $12.00 target price on shares of Navitas Semiconductor in a report on Friday, March 1st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.82.

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.