AXQ Capital LP Takes Position in Navitas Semiconductor Co. (NASDAQ:NVTS)

AXQ Capital LP acquired a new position in Navitas Semiconductor Co. (NASDAQ:NVTS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,687 shares of the company’s stock, valued at approximately $56,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVTS. Benjamin Edwards Inc. purchased a new position in shares of Navitas Semiconductor in the third quarter worth $36,000. Goodman Financial Corp bought a new stake in Navitas Semiconductor in the 4th quarter worth about $36,000. Cibc World Markets Corp purchased a new position in Navitas Semiconductor in the 4th quarter worth about $42,000. GSA Capital Partners LLP bought a new position in Navitas Semiconductor during the 3rd quarter valued at about $44,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Navitas Semiconductor during the 4th quarter valued at about $44,000. 46.14% of the stock is owned by institutional investors.

Insider Activity at Navitas Semiconductor

In related news, CFO Todd Glickman sold 13,644 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 684,497 shares in the company, valued at approximately $1,772,847.23. The trade was a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian Long sold 47,189 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was 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 directly owns 31,460 shares of the company’s stock, valued at $74,245.60. This represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,477 shares of company stock worth $182,042. Corporate insiders own 31.80% of the company’s stock.

Navitas Semiconductor Price Performance

Shares of NVTS stock opened at $2.26 on Tuesday. The company has a market cap of $422.16 million, a price-to-earnings ratio of -5.38 and a beta of 2.23. Navitas Semiconductor Co. has a 1 year low of $1.75 and a 1 year high of $5.14. The firm has a fifty day moving average price of $2.85 and a 200-day moving average price of $2.81.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NVTS shares. Robert W. Baird lowered their price objective on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Rosenblatt Securities reissued a “buy” rating and set a $5.00 price target on shares of Navitas Semiconductor in a report on Thursday, March 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $4.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $4.11.

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.