Susquehanna Fundamental Investments LLC Purchases New Shares in Navitas Semiconductor Co. (NASDAQ:NVTS)

Susquehanna Fundamental Investments LLC purchased a new stake in shares of Navitas Semiconductor Co. (NASDAQ:NVTS - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 327,837 shares of the company's stock, valued at approximately $1,170,000. Susquehanna Fundamental Investments LLC owned approximately 0.18% of Navitas Semiconductor at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Edge Capital Group LLC purchased a new position in Navitas Semiconductor during the fourth quarter worth about $987,000. DnB Asset Management AS boosted its position in shares of Navitas Semiconductor by 109.8% during the 4th quarter. DnB Asset Management AS now owns 506,124 shares of the company's stock valued at $1,807,000 after acquiring an additional 264,906 shares during the last quarter. Corbin Capital Partners L.P. purchased a new position in shares of Navitas Semiconductor during the fourth quarter worth about $773,000. Vanguard Group Inc. increased its position in shares of Navitas Semiconductor by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,873,888 shares of the company's stock worth $35,250,000 after purchasing an additional 166,115 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Navitas Semiconductor in the fourth quarter valued at approximately $570,000. Institutional investors own 46.14% of the company's stock.

Analysts Set New Price Targets

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

Navitas Semiconductor Price Performance

Navitas Semiconductor stock traded down $0.05 during mid-day trading on Monday, hitting $2.00. The company's stock had a trading volume of 2,415,777 shares, compared to its average volume of 3,773,329. The business has a 50 day moving average price of $2.09 and a 200-day moving average price of $2.70. Navitas Semiconductor Co. has a 12 month low of $1.52 and a 12 month high of $5.14. The stock has a market cap of $381.06 million, a price-to-earnings ratio of -4.76 and a beta of 2.24.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%. On average, equities research analysts expect that Navitas Semiconductor Co. will post -0.51 earnings per share for the current fiscal year.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Brian Long sold 47,189 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $2.36, for a total transaction 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 represents a 60.00 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 shares were sold at an average price of $2.59, for a total transaction of $35,337.96. Following the completion of the transaction, the chief financial officer now owns 684,497 shares in the company, valued at $1,772,847.23. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,477 shares of company stock worth $182,042. Insiders own 31.80% of the company's stock.

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.