Mirabella Financial Services LLP Acquires Shares of 409,966 Navitas Semiconductor Co. (NASDAQ:NVTS)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in NVTS. SG Americas Securities LLC bought a new stake in shares of Navitas Semiconductor in the first quarter valued at approximately $65,000. Russell Investments Group Ltd. boosted its holdings in Navitas Semiconductor by 13.1% in the 1st quarter. Russell Investments Group Ltd. now owns 73,893 shares of the company's stock valued at $352,000 after purchasing an additional 8,565 shares during the period. ProShare Advisors LLC increased its holdings in shares of Navitas Semiconductor by 12.5% during the 1st quarter. ProShare Advisors LLC now owns 20,348 shares of the company's stock worth $97,000 after purchasing an additional 2,258 shares during the period. Vanguard Group Inc. increased its holdings in shares of Navitas Semiconductor by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 9,009,587 shares of the company's stock worth $42,976,000 after purchasing an additional 232,496 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Navitas Semiconductor by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,646 shares of the company's stock valued at $151,000 after buying an additional 4,533 shares during the last quarter. 46.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 193,662 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $3.03, for a total transaction of $586,795.86. Following the sale, the chief executive officer now owns 2,149,631 shares of the company's stock, valued at $6,513,381.93. This represents a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 31.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Robert W. Baird lowered 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. Rosenblatt Securities restated a "buy" rating and issued a $7.50 target price on shares of Navitas Semiconductor in a research note on Thursday, October 31st. Needham & Company LLC reduced their target price on 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 lowered their price target on shares of Navitas Semiconductor from $4.60 to $3.50 and set an "equal weight" rating on the stock in a report on Tuesday, August 6th. Finally, Craig Hallum dropped their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $4.75.

Navitas Semiconductor Stock Performance

Shares of NASDAQ:NVTS traded down $0.23 on Tuesday, hitting $2.55. The stock had a trading volume of 4,977,923 shares, compared to its average volume of 2,751,162. The company has a market capitalization of $476.34 million, a price-to-earnings ratio of -6.19 and a beta of 2.36. The firm's 50 day moving average price is $2.35 and its 200-day moving average price is $3.21. Navitas Semiconductor Co. has a twelve month low of $1.75 and a twelve month high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The firm had revenue of $21.68 million for the quarter, compared to analysts' expectations of $21.93 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. The company's quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side 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.