Invesco Ltd. Has $5.35 Million Stake in Navitas Semiconductor Co. (NASDAQ:NVTS)

Invesco Ltd. reduced its stake in shares of Navitas Semiconductor Co. (NASDAQ:NVTS - Free Report) by 26.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,497,971 shares of the company's stock after selling 534,836 shares during the quarter. Invesco Ltd. owned 0.80% of Navitas Semiconductor worth $5,348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goodman Financial Corp acquired a new stake in Navitas Semiconductor during the 4th quarter valued at $36,000. Cibc World Markets Corp bought a new stake in shares of Navitas Semiconductor during the fourth quarter worth $42,000. Raymond James Financial Inc. acquired a new stake in shares of Navitas Semiconductor in the fourth quarter valued at $44,000. Signature Wealth Management Partners LLC acquired a new stake in shares of Navitas Semiconductor in the fourth quarter valued at $51,000. Finally, AXQ Capital LP bought a new position in shares of Navitas Semiconductor in the fourth quarter valued at about $56,000. 46.14% of the stock is owned by institutional investors.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, CFO Todd Glickman sold 13,644 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $2.59, for a total value of $35,337.96. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Long sold 47,189 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $2.36, for a total value of $111,366.04. Following the completion of the sale, the director now owns 31,460 shares of the company's stock, valued at $74,245.60. This trade represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,477 shares of company stock worth $182,042. 31.80% of the stock is owned by insiders.

Navitas Semiconductor Price Performance

Shares of Navitas Semiconductor stock traded up $0.05 on Thursday, hitting $1.98. 363,986 shares of the company's stock traded hands, compared to its average volume of 3,756,361. The firm's 50-day moving average price is $2.12 and its two-hundred day moving average price is $2.70. The stock has a market capitalization of $378.01 million, a PE ratio of -4.70 and a beta of 2.24. Navitas Semiconductor Co. has a one year low of $1.52 and a one year high of $5.14.

Analysts Set New Price Targets

NVTS has been the subject of several research reports. Morgan Stanley cut shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $2.10 to $1.50 in a research report on Monday, April 7th. Rosenblatt Securities restated a "buy" rating and issued a $5.00 price objective on shares of Navitas Semiconductor in a research report on Thursday, March 13th. Needham & Company LLC reiterated a "buy" rating and issued a $4.00 price objective on shares of Navitas Semiconductor in a research report on Tuesday, February 25th. Finally, Robert W. Baird dropped their target price on Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $3.82.

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.