276,595 Shares in Navitas Semiconductor Co. (NASDAQ:NVTS) Acquired by Edge Capital Group LLC

Edge Capital Group LLC purchased a new position in shares of 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 purchased 276,595 shares of the company’s stock, valued at approximately $987,000.

A number of other large investors also recently modified their holdings of the company. Compass Capital Corp MA ADV purchased a new stake in shares of Navitas Semiconductor during the 4th quarter worth $553,000. Signature Wealth Management Partners LLC acquired a new stake in Navitas Semiconductor in the fourth quarter valued at $51,000. Wesbanco Bank Inc. purchased a new stake in Navitas Semiconductor during the 4th quarter worth about $357,000. SG Americas Securities LLC boosted its position in shares of Navitas Semiconductor by 81.7% during the 4th quarter. SG Americas Securities LLC now owns 98,601 shares of the company’s stock worth $352,000 after acquiring an additional 44,340 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its holdings 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 acquiring an additional 12,027 shares during the last quarter. 46.14% of the stock is 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 business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $4.04, for a total value of $323,200.00. Following the transaction, the director now owns 356,709 shares of the company’s stock, valued at approximately $1,441,104.36. The trade was a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 31.80% of the stock is owned by company insiders.

Navitas Semiconductor Price Performance

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

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $5.00 target price on shares of Navitas Semiconductor in a research note on Thursday, February 20th. Craig Hallum reduced their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $4.39.

About Navitas Semiconductor

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.