Navitas Semiconductor Co. (NASDAQ:NVTS) Stake Trimmed by MYDA Advisors LLC

MYDA Advisors LLC reduced its stake in Navitas Semiconductor Co. (NASDAQ:NVTS - Free Report) by 30.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 420,000 shares of the company's stock after selling 180,000 shares during the period. MYDA Advisors LLC owned approximately 0.22% of Navitas Semiconductor worth $1,499,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $4.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, February 25th. Rosenblatt Securities restated a "buy" rating and set a $5.00 price objective on shares of Navitas Semiconductor in a research note on Thursday, March 13th. Morgan Stanley lowered Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $2.10 to $1.50 in a research report on Monday, April 7th. Finally, Robert W. Baird cut their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Navitas Semiconductor presently has a consensus rating of "Moderate Buy" and an average target price of $3.82.

Insider Activity

In related news, Director Brian Long sold 47,189 shares of Navitas Semiconductor stock in a transaction dated Friday, March 21st. The stock was 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 of the company's stock, valued at $74,245.60. The trade was a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $35,337.96. Following the completion of the sale, the chief financial officer now owns 684,497 shares in the company, valued at approximately $1,772,847.23. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,477 shares of company stock worth $182,042 over the last three months. Corporate insiders own 31.80% of the company's stock.

Navitas Semiconductor Trading Down 0.2 %

NVTS traded down $0.01 on Friday, reaching $2.03. The company had a trading volume of 1,533,266 shares, compared to its average volume of 3,758,446. Navitas Semiconductor Co. has a one year low of $1.52 and a one year high of $5.14. The company has a market capitalization of $385.82 million, a P/E ratio of -4.82 and a beta of 2.24. The company has a fifty day moving average of $2.23 and a 200-day moving average of $2.71.

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.