Charles Schwab Investment Management Inc. Acquires 248,143 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS)

Charles Schwab Investment Management Inc. raised its holdings in shares of Navitas Semiconductor Co. (NASDAQ:NVTS - Free Report) by 37.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 905,524 shares of the company's stock after purchasing an additional 248,143 shares during the period. Charles Schwab Investment Management Inc. owned 0.52% of Navitas Semiconductor worth $6,293,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Navitas Semiconductor by 374.4% during the second quarter. BlackRock Inc. now owns 6,993,014 shares of the company's stock valued at $73,706,000 after purchasing an additional 5,518,894 shares in the last quarter. State Street Corp increased its stake in shares of Navitas Semiconductor by 111.1% during the second quarter. State Street Corp now owns 5,337,289 shares of the company's stock valued at $56,255,000 after purchasing an additional 2,808,415 shares in the last quarter. Invesco Ltd. increased its stake in shares of Navitas Semiconductor by 47.3% during the first quarter. Invesco Ltd. now owns 2,034,888 shares of the company's stock valued at $20,919,000 after purchasing an additional 653,223 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Navitas Semiconductor by 116.3% during the second quarter. Geode Capital Management LLC now owns 1,944,227 shares of the company's stock valued at $20,492,000 after acquiring an additional 1,045,279 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Navitas Semiconductor by 43.4% during the third quarter. Vanguard Group Inc. now owns 1,859,959 shares of the company's stock valued at $9,021,000 after acquiring an additional 562,582 shares in the last quarter. Institutional investors own 37.45% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NVTS. Morgan Stanley reduced their price target on shares of Navitas Semiconductor from $8.00 to $6.90 and set an "equal weight" rating for the company in a research report on Friday, November 10th. Northland Securities began coverage on shares of Navitas Semiconductor in a research report on Tuesday, January 16th. They set a "market perform" rating for the company. Rosenblatt Securities reissued a "buy" rating and set a $12.00 price target on shares of Navitas Semiconductor in a research report on Friday. Finally, Needham & Company LLC reduced their price target on shares of Navitas Semiconductor from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Friday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Navitas Semiconductor presently has an average rating of "Moderate Buy" and an average price target of $9.82.

Insiders Place Their Bets

In other Navitas Semiconductor news, Director Dipender Saluja sold 43,530 shares of Navitas Semiconductor stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $8.21, for a total value of $357,381.30. Following the completion of the sale, the director now owns 6,249,128 shares of the company's stock, valued at approximately $51,305,340.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Dipender Saluja sold 43,530 shares of Navitas Semiconductor stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $8.21, for a total transaction of $357,381.30. Following the transaction, the director now owns 6,249,128 shares in the company, valued at approximately $51,305,340.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ron Shelton sold 10,000 shares of Navitas Semiconductor stock in a transaction on Friday, December 15th. The stock was sold at an average price of $8.11, for a total transaction of $81,100.00. Following the transaction, the chief financial officer now owns 306,668 shares in the company, valued at approximately $2,487,077.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,060 shares of company stock valued at $991,592. Company insiders own 36.80% of the company's stock.

Navitas Semiconductor Trading Down 7.8 %

NASDAQ:NVTS opened at $5.66 on Monday. Navitas Semiconductor Co. has a 12 month low of $4.76 and a 12 month high of $11.16. The company has a market cap of $1.01 billion, a PE ratio of -6.43 and a beta of 2.61. The company has a 50 day simple moving average of $6.56 and a two-hundred day simple moving average of $6.88.

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.

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