16,297 Shares in Navitas Semiconductor Co. (NASDAQ:NVTS) Bought by TCG Advisory Services LLC

TCG Advisory Services LLC purchased a new stake in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,297 shares of the company’s stock, valued at approximately $132,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Navitas Semiconductor by 37.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 905,524 shares of the company’s stock worth $6,293,000 after acquiring an additional 248,143 shares during the last quarter. Federated Hermes Inc. raised its holdings in Navitas Semiconductor by 9,612.6% during the 3rd quarter. Federated Hermes Inc. now owns 33,800 shares of the company’s stock valued at $235,000 after buying an additional 33,452 shares during the last quarter. Vanguard Group Inc. boosted its position in Navitas Semiconductor by 14.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,572,707 shares of the company’s stock valued at $59,580,000 after buying an additional 1,064,010 shares during the period. Swiss National Bank grew its holdings in Navitas Semiconductor by 16.6% in the 3rd quarter. Swiss National Bank now owns 265,400 shares of the company’s stock worth $1,845,000 after acquiring an additional 37,700 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of Navitas Semiconductor in the third quarter valued at about $410,000. 46.14% of the stock is owned by institutional investors.

Navitas Semiconductor Trading Up 3.2 %

NVTS stock opened at $4.80 on Tuesday. Navitas Semiconductor Co. has a fifty-two week low of $3.54 and a fifty-two week high of $11.16. The business’s 50 day moving average price is $4.65 and its two-hundred day moving average price is $5.96.

Navitas Semiconductor (NASDAQ:NVTS) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $26.06 million for the quarter, compared to analyst estimates of $25.68 million. Navitas Semiconductor had a negative return on equity of 18.81% and a negative net margin of 183.04%. Equities research analysts anticipate that Navitas Semiconductor Co. will post -0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Needham & Company LLC dropped their target price on shares of Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 1st. Northland Securities initiated coverage on Navitas Semiconductor in a report on Tuesday, January 16th. They issued a “market perform” rating for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $12.00 target price on shares of Navitas Semiconductor in a research note on Friday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.82.

Insider Buying and Selling

In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 24,073 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $115,550.40. Following the sale, the chief operating officer now owns 4,538,353 shares in the company, valued at $21,784,094.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Eugene Sheridan sold 38,431 shares of Navitas Semiconductor stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $184,468.80. Following the completion of the transaction, the chief executive officer now owns 3,061,631 shares of the company’s stock, valued at approximately $14,695,828.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Daniel M. Kinzer sold 24,073 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $115,550.40. Following the completion of the transaction, the chief operating officer now owns 4,538,353 shares in the company, valued at approximately $21,784,094.40. The disclosure for this sale can be found here. Insiders sold a total of 73,429 shares of company stock worth $352,459 in the last three months. 36.80% of the stock is owned by corporate insiders.

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.