ArrowMark Colorado Holdings LLC Buys 845,664 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS)

ArrowMark Colorado Holdings LLC boosted its holdings in Navitas Semiconductor Co. (NASDAQ:NVTS - Free Report) by 31.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,556,379 shares of the company's stock after acquiring an additional 845,664 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 1.94% of Navitas Semiconductor worth $8,713,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. raised its position in shares of Navitas Semiconductor by 2,656.2% in the 2nd 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 grew its stake 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 in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Navitas Semiconductor in the 2nd quarter valued at approximately $2,364,000. Rice Hall James & Associates LLC acquired a new stake in shares of Navitas Semiconductor during the second quarter worth $2,151,000. Finally, Mirabella Financial Services LLP bought a new stake in shares of Navitas Semiconductor in the 3rd quarter worth approximately $943,000. Institutional investors and hedge funds own 46.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Needham & Company LLC decreased their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. Morgan Stanley reduced their target price 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. Robert W. Baird decreased their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their target price 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. Finally, Rosenblatt Securities restated a "buy" rating and set a $7.50 price target on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Navitas Semiconductor has an average rating of "Moderate Buy" and a consensus price target of $4.75.

Navitas Semiconductor Price Performance

Shares of Navitas Semiconductor stock traded up $0.19 on Tuesday, hitting $3.21. The company had a trading volume of 5,656,236 shares, compared to its average volume of 2,789,933. The firm has a market capitalization of $599.63 million, a P/E ratio of -7.74 and a beta of 2.37. Navitas Semiconductor Co. has a twelve month low of $1.75 and a twelve month high of $8.44. The stock has a 50-day moving average of $2.39 and a 200-day moving average of $3.16.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.06) 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 during the quarter, compared to analysts' expectations of $21.93 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The business's quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts predict that Navitas Semiconductor Co. will post -0.51 EPS for the current year.

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.