Edge Capital Group LLC Purchases New Stake in Navitas Semiconductor Co. (NASDAQ:NVTS)

Edge Capital Group LLC acquired a new position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 276,595 shares of the company’s stock, valued at approximately $987,000. Edge Capital Group LLC owned about 0.15% of Navitas Semiconductor as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Compass Capital Corp MA ADV purchased a new position in shares of Navitas Semiconductor during the 4th quarter worth $553,000. Signature Wealth Management Partners LLC purchased a new position in Navitas Semiconductor during the fourth quarter worth about $51,000. Wesbanco Bank Inc. acquired a new position in Navitas Semiconductor in the 4th quarter valued at about $357,000. SG Americas Securities LLC boosted its holdings in Navitas Semiconductor by 81.7% in the 4th quarter. SG Americas Securities LLC now owns 98,601 shares of the company’s stock valued at $352,000 after purchasing an additional 44,340 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its stake in shares of Navitas Semiconductor by 15.3% in the 4th quarter. 180 Wealth Advisors LLC now owns 90,682 shares of the company’s stock valued at $324,000 after buying an additional 12,027 shares during the period. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $4.04, for a total transaction of $323,200.00. Following the sale, the director now owns 356,709 shares of the company’s stock, valued at approximately $1,441,104.36. This represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NVTS. Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 price objective on shares of Navitas Semiconductor in a report on Thursday, February 20th. Craig Hallum decreased their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, Robert W. Baird reduced their price objective on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.39.

Navitas Semiconductor Trading Down 8.8 %

NVTS stock opened at $2.89 on Tuesday. The business’s fifty day moving average price is $3.32 and its 200 day moving average price is $2.89. Navitas Semiconductor Co. has a 12-month low of $1.75 and a 12-month high of $7.40. The company has a market capitalization of $539.84 million, a PE ratio of -6.88 and a beta of 2.20.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Navitas Semiconductor had a negative return on equity of 23.64% and a negative net margin of 84.61%. Research analysts predict that Navitas Semiconductor Co. will post -0.51 EPS for the current fiscal year.

Navitas Semiconductor Company 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.