Vanguard Group Inc. increased its position in Navitas Semiconductor Corporation (NASDAQ:NVTS – Free Report) by 10.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,691,351 shares of the company’s stock after purchasing an additional 1,330,703 shares during the quarter. Vanguard Group Inc. owned 0.06% of Navitas Semiconductor worth $104,896,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in Navitas Semiconductor by 75.2% during the 2nd quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock valued at $20,999,000 after purchasing an additional 1,376,205 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Navitas Semiconductor by 90.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,048,943 shares of the company’s stock worth $22,013,000 after purchasing an additional 1,444,405 shares during the period. Jump Financial LLC bought a new stake in shares of Navitas Semiconductor in the 3rd quarter worth approximately $11,243,000. UBS Group AG raised its holdings in shares of Navitas Semiconductor by 43.6% in the 3rd quarter. UBS Group AG now owns 1,431,808 shares of the company’s stock worth $10,338,000 after purchasing an additional 434,785 shares during the period. Finally, First Trust Advisors LP raised its holdings in Navitas Semiconductor by 5.5% during the 3rd quarter. First Trust Advisors LP now owns 505,085 shares of the company’s stock valued at $3,647,000 after acquiring an additional 26,316 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.
Navitas Semiconductor Stock Performance
Shares of NASDAQ:NVTS opened at $19.25 on Wednesday. Navitas Semiconductor Corporation has a 52-week low of $1.88 and a 52-week high of $23.82. The firm has a fifty day moving average of $11.74 and a 200 day moving average of $10.06. The firm has a market capitalization of $4.44 billion, a PE ratio of -30.56 and a beta of 3.62.
Insider Buying and Selling at Navitas Semiconductor
In other Navitas Semiconductor news, CEO Chris Allexandre sold 9,236 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $8.93, for a total transaction of $82,477.48. Following the completion of the sale, the chief executive officer directly owned 813,323 shares in the company, valued at $7,262,974.39. This represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ranbir Singh sold 389,096 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $9.52, for a total transaction of $3,704,193.92. The SEC filing for this sale provides additional information. Insiders sold a total of 509,016 shares of company stock worth $4,967,814 over the last three months. Company insiders own 29.90% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on NVTS shares. Robert W. Baird boosted their target price on shares of Navitas Semiconductor from $9.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Rosenblatt Securities boosted their price target on shares of Navitas Semiconductor from $7.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Navitas Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday. Needham & Company LLC boosted their price target on shares of Navitas Semiconductor from $13.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley restated an “underweight” rating and set a $13.70 price target on shares of Navitas Semiconductor in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Hold” and a consensus price target of $12.87.
Get Our Latest Research Report on Navitas Semiconductor
About Navitas Semiconductor
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.
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