Corbin Capital Partners L.P. Purchases New Shares in Navitas Semiconductor Co. (NASDAQ:NVTS)

Corbin Capital Partners L.P. acquired a new position in Navitas Semiconductor Co. (NASDAQ:NVTS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 216,515 shares of the company’s stock, valued at approximately $773,000. Navitas Semiconductor makes up approximately 1.3% of Corbin Capital Partners L.P.’s investment portfolio, making the stock its 7th biggest position.

A number of other institutional investors have also recently bought and sold shares of the business. Cibc World Markets Corp acquired a new stake in shares of Navitas Semiconductor during the 4th quarter worth $42,000. Prosperity Wealth Management Inc. acquired a new stake in Navitas Semiconductor during the fourth quarter worth about $186,000. Raymond James Financial Inc. bought a new position in Navitas Semiconductor in the 4th quarter valued at about $44,000. Charles Schwab Investment Management Inc. raised its position in shares of Navitas Semiconductor by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,046,750 shares of the company’s stock valued at $3,737,000 after buying an additional 76,870 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Navitas Semiconductor during the 4th quarter worth approximately $66,000. Institutional investors own 46.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NVTS. Rosenblatt Securities restated a “buy” rating and set a $5.00 target price on shares of Navitas Semiconductor in a research note on Thursday, March 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Navitas Semiconductor in a research note on Tuesday, February 25th. Finally, Robert W. Baird lowered their target price on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.11.

Insider Buying and Selling

In other news, CFO Todd Glickman sold 13,644 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total transaction of $35,337.96. Following the completion of the transaction, the chief financial officer now owns 684,497 shares of the company’s stock, valued at approximately $1,772,847.23. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 31.80% of the stock is owned by corporate insiders.

Navitas Semiconductor Trading Down 7.9 %

Shares of NVTS stock opened at $2.33 on Friday. The firm has a market capitalization of $435.23 million, a price-to-earnings ratio of -5.55 and a beta of 2.23. The business’s 50-day moving average price is $2.89 and its 200-day moving average price is $2.82. Navitas Semiconductor Co. has a 12 month low of $1.75 and a 12 month high of $5.14.

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.