Rhumbline Advisers Lowers Stock Holdings in Navitas Semiconductor Co. (NASDAQ:NVTS)

Rhumbline Advisers reduced its holdings in Navitas Semiconductor Co. (NASDAQ:NVTS) by 33.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 177,013 shares of the company’s stock after selling 90,669 shares during the period. Rhumbline Advisers’ holdings in Navitas Semiconductor were worth $632,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Benjamin Edwards Inc. acquired a new position in Navitas Semiconductor during the third quarter worth $36,000. GSA Capital Partners LLP purchased a new stake in shares of Navitas Semiconductor during the third quarter worth about $44,000. Signature Wealth Management Partners LLC acquired a new position in shares of Navitas Semiconductor during the 4th quarter worth about $51,000. PEAK6 Investments LLC purchased a new position in Navitas Semiconductor in the 3rd quarter valued at about $62,000. Finally, Intech Investment Management LLC purchased a new position in Navitas Semiconductor in the 3rd quarter valued at about $79,000. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NVTS shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.00 target price on shares of Navitas Semiconductor in a research note on Thursday, February 20th. Robert W. Baird dropped their price target on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $4.00 target price on shares of Navitas Semiconductor in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Navitas Semiconductor presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.11.

Navitas Semiconductor Trading Up 2.0 %

Shares of NVTS opened at $2.54 on Friday. Navitas Semiconductor Co. has a twelve month low of $1.75 and a twelve month high of $5.46. The firm has a market capitalization of $474.46 million, a P/E ratio of -6.05 and a beta of 2.23. The firm’s 50-day moving average is $3.12 and its two-hundred day moving average is $2.85.

Insider Activity

In other Navitas Semiconductor news, CFO Todd Glickman sold 13,644 shares of Navitas Semiconductor 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard J. Hendrix sold 40,000 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the sale, the director now directly owns 316,709 shares of the company’s stock, valued at $1,437,858.86. This represents a 11.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,288 shares of company stock worth $252,276 over the last three months. 31.80% of the stock is currently owned by corporate insiders.

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.