15,687 Shares in Navitas Semiconductor Co. (NASDAQ:NVTS) Acquired by AXQ Capital LP

AXQ Capital LP purchased a new position in Navitas Semiconductor Co. (NASDAQ:NVTS) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 15,687 shares of the company’s stock, valued at approximately $56,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in shares of Navitas Semiconductor by 52.7% during the fourth quarter. American Century Companies Inc. now owns 15,704 shares of the company’s stock worth $56,000 after acquiring an additional 5,419 shares during the last quarter. Goodman Financial Corp bought a new position in shares of Navitas Semiconductor during the 4th quarter valued at about $36,000. Cibc World Markets Corp purchased a new position in shares of Navitas Semiconductor during the fourth quarter valued at about $42,000. 180 Wealth Advisors LLC increased its holdings in shares of Navitas Semiconductor by 15.3% in the fourth quarter. 180 Wealth Advisors LLC now owns 90,682 shares of the company’s stock worth $324,000 after purchasing an additional 12,027 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Navitas Semiconductor in the fourth quarter worth about $44,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Navitas Semiconductor

In related news, Director Brian Long sold 47,189 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $2.36, for a total transaction of $111,366.04. Following the transaction, the director now directly owns 31,460 shares in the company, valued at approximately $74,245.60. This represents a 60.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Todd Glickman sold 13,644 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $2.59, for a total transaction of $35,337.96. Following the completion of the sale, the chief financial officer now directly owns 684,497 shares of the company’s stock, valued at approximately $1,772,847.23. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,477 shares of company stock worth $182,042 over the last quarter. Insiders own 31.80% of the company’s stock.

Navitas Semiconductor Stock Performance

NASDAQ NVTS opened at $2.26 on Tuesday. The company has a market cap of $422.16 million, a P/E ratio of -5.38 and a beta of 2.23. The business’s 50 day moving average price is $2.85 and its 200-day moving average price is $2.81. Navitas Semiconductor Co. has a fifty-two week low of $1.75 and a fifty-two week high of $5.14.

Wall Street Analysts Forecast Growth

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

Navitas Semiconductor 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.