Connor Clark & Lunn Investment Management Ltd. Purchases New Holdings in Navitas Semiconductor Corporation $NVTS

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) in the second quarter, HoldingsChannel reports. The fund acquired 4,224,400 shares of the company’s stock, valued at approximately $75,701,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Compass Financial Management LLC acquired a new position in shares of Navitas Semiconductor in the 2nd quarter valued at approximately $71,000. Long Corridor Asset Management Ltd acquired a new stake in shares of Navitas Semiconductor during the second quarter worth approximately $1,792,000. Rakuten Securities Inc. bought a new stake in shares of Navitas Semiconductor in the second quarter worth $27,000. Callan Family Office LLC bought a new stake in shares of Navitas Semiconductor in the second quarter worth $550,000. Finally, Allworth Financial LP acquired a new stake in Navitas Semiconductor in the second quarter valued at $124,000. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Gary Kent Wunderlich, Jr. sold 73,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $28.11, for a total transaction of $2,052,030.00. Following the sale, the director directly owned 13,964 shares in the company, valued at approximately $392,528.04. This represents a 83.94% decrease in their position. 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 firm’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 value of $3,190,378.40. Following the completion of the sale, the director directly owned 101,709 shares in the company, valued at approximately $2,945,492.64. This trade represents a 52.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 3,989,478 shares of company stock valued at $116,356,387. 12.40% of the stock is currently owned by insiders.

Navitas Semiconductor Stock Performance

Shares of NASDAQ:NVTS opened at $12.97 on Monday. The company’s fifty day moving average is $14.79 and its two-hundred day moving average is $14.54. Navitas Semiconductor Corporation has a 1-year low of $5.44 and a 1-year high of $34.17. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -9.75 and a beta of 3.87.

Navitas Semiconductor (NASDAQ:NVTS) last posted its quarterly earnings results on Monday, July 27th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%. The business had revenue of $10.53 million during the quarter, compared to analyst estimates of $9.97 million. During the same period in the previous year, the business posted ($0.25) EPS. The company’s quarterly revenue was down 27.3% on a year-over-year basis. Sell-side analysts expect that Navitas Semiconductor Corporation will post -0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 price objective on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Morgan Stanley restated an “underweight” rating and issued a $12.60 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Needham & Company LLC restated a “buy” rating and issued a $21.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Robert W. Baird lifted their price target on Navitas Semiconductor from $9.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, Jefferies Financial Group set a $13.00 price objective on Navitas Semiconductor in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.92.

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.