Walleye Capital LLC Invests $283,000 in Navitas Semiconductor Co. (NASDAQ:NVTS)

Walleye Capital LLC bought a new position in Navitas Semiconductor Co. (NASDAQ:NVTS - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 115,690 shares of the company's stock, valued at approximately $283,000. Walleye Capital LLC owned 0.06% of Navitas Semiconductor at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. raised its position in Navitas Semiconductor by 2,656.2% during the second quarter. Point72 Asset Management L.P. now owns 4,283,350 shares of the company's stock valued at $16,834,000 after buying an additional 4,127,940 shares during the period. Masters Capital Management LLC increased its holdings in shares of Navitas Semiconductor by 90.0% in the 2nd quarter. Masters Capital Management LLC now owns 1,900,000 shares of the company's stock valued at $7,467,000 after purchasing an additional 900,000 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Navitas Semiconductor during the second quarter worth approximately $2,364,000. Rice Hall James & Associates LLC purchased a new position in Navitas Semiconductor during the second quarter valued at approximately $2,151,000. Finally, Mirabella Financial Services LLP acquired a new position in Navitas Semiconductor in the 3rd quarter valued at approximately $943,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $4.54, for a total value of $181,600.00. Following the sale, the director now owns 316,709 shares of the company's stock, valued at $1,437,858.86. This trade represents a 11.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 31.80% of the company's stock.

Navitas Semiconductor Stock Performance

Shares of NVTS traded down $0.27 during trading hours on Wednesday, hitting $4.08. 9,482,710 shares of the company were exchanged, compared to its average volume of 3,077,419. The company has a market cap of $762.13 million, a PE ratio of -9.71 and a beta of 2.37. The firm's 50 day moving average is $2.59 and its 200-day moving average is $3.17. Navitas Semiconductor Co. has a 52 week low of $1.75 and a 52 week high of $8.44.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.06) EPS for the quarter, meeting analysts' consensus estimates of ($0.06). The company had revenue of $21.68 million for the quarter, compared to analyst estimates of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. The company's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) earnings per share. As a group, equities analysts forecast that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NVTS shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Craig Hallum cut their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating for the company in a report on Tuesday, November 5th. 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. Finally, Robert W. Baird reduced their price target on Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Navitas Semiconductor presently has a consensus rating of "Moderate Buy" and a consensus price target of $4.75.

About Navitas Semiconductor

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.