Rockefeller Capital Management L.P. Grows Position in Navitas Semiconductor Corporation $NVTS

Rockefeller Capital Management L.P. grew its holdings in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) by 1,438.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,834 shares of the company’s stock after purchasing an additional 50,334 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Navitas Semiconductor were worth $384,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NVTS. Allworth Financial LP lifted its stake in shares of Navitas Semiconductor by 309.4% during the 3rd quarter. Allworth Financial LP now owns 3,570 shares of the company’s stock valued at $26,000 after buying an additional 2,698 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Navitas Semiconductor by 189.8% during the 2nd quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after acquiring an additional 2,942 shares during the period. GAMMA Investing LLC raised its holdings in Navitas Semiconductor by 116.5% during the 4th quarter. GAMMA Investing LLC now owns 4,736 shares of the company’s stock valued at $34,000 after acquiring an additional 2,548 shares during the period. Sarver Vrooman Wealth Advisors purchased a new stake in shares of Navitas Semiconductor during the fourth quarter worth $45,000. Finally, Harbour Investments Inc. lifted its position in shares of Navitas Semiconductor by 68,600.0% during the fourth quarter. Harbour Investments Inc. now owns 6,870 shares of the company’s stock worth $49,000 after acquiring an additional 6,860 shares in the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NVTS. Robert W. Baird lifted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Weiss Ratings upgraded Navitas Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Needham & Company LLC lifted their target price on Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Rosenblatt Securities upped their price target on Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Hold” and an average target price of $14.74.

Insiders Place Their Bets

In other news, Director Gary Kent Wunderlich, Jr. sold 35,165 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.14, for a total transaction of $989,543.10. Following the completion of the transaction, the director owned 2,375,060 shares of the company’s stock, valued at approximately $66,834,188.40. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard J. Hendrix sold 110,165 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.96, for a total transaction of $3,190,378.40. Following the completion of the transaction, the director owned 101,709 shares in the company, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,989,478 shares of company stock worth $116,356,387. 12.40% of the stock is currently owned by insiders.

Navitas Semiconductor Stock Performance

Navitas Semiconductor stock opened at $14.18 on Tuesday. The stock has a market cap of $3.31 billion, a P/E ratio of -22.78 and a beta of 3.82. Navitas Semiconductor Corporation has a fifty-two week low of $5.44 and a fifty-two week high of $34.17. The firm’s fifty day moving average price is $21.60 and its 200-day moving average price is $13.68.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Navitas Semiconductor had a negative return on equity of 14.30% and a negative net margin of 330.67%.The company had revenue of $8.60 million for the quarter, compared to the consensus estimate of $8.22 million. During the same quarter last year, the business posted ($0.06) earnings per share. The firm’s revenue was down 38.7% compared to the same quarter last year. Sell-side analysts predict that Navitas Semiconductor Corporation will post -0.39 earnings per share for the current year.

Navitas Semiconductor Profile

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.