96,949 Navitas Semiconductor Corporation $NVTS Shares Purchased by Capstone Capital Management Ltd

Capstone Capital Management Ltd increased its holdings in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) by 139.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 166,402 shares of the company’s stock after acquiring an additional 96,949 shares during the quarter. Navitas Semiconductor comprises 0.8% of Capstone Capital Management Ltd’s investment portfolio, making the stock its 23rd biggest position. Capstone Capital Management Ltd’s holdings in Navitas Semiconductor were worth $1,932,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rakuten Securities Inc. purchased a new position in Navitas Semiconductor during the second quarter worth approximately $27,000. Beaird Harris Wealth Management LLC increased its stake in shares of Navitas Semiconductor by 247.8% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,739 shares of the company’s stock worth $31,000 after acquiring an additional 1,239 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Navitas Semiconductor by 3,200.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,125 shares of the company’s stock worth $36,000 after acquiring an additional 4,000 shares during the last quarter. State of Wyoming raised its holdings in shares of Navitas Semiconductor by 92.8% during the 1st quarter. State of Wyoming now owns 4,803 shares of the company’s stock worth $42,000 after acquiring an additional 2,312 shares during the period. Finally, KBC Group NV purchased a new position in shares of Navitas Semiconductor during the 1st quarter worth $51,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Stock Performance

Shares of NVTS stock opened at $8.74 on Wednesday. Navitas Semiconductor Corporation has a one year low of $6.85 and a one year high of $34.17. The firm’s 50 day moving average price is $11.63 and its 200-day moving average price is $15.25.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group set a $13.00 price objective 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 report on Monday, September 14th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, September 29th. Morgan Stanley reaffirmed an “underweight” rating and set a $12.60 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $21.00 target price on shares of Navitas Semiconductor in a 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.92.

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.