Bank of New York Mellon Corp Acquires 107,828 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS)

Bank of New York Mellon Corp grew its holdings in Navitas Semiconductor Co. (NASDAQ:NVTS) by 27.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 498,713 shares of the company’s stock after acquiring an additional 107,828 shares during the quarter. Bank of New York Mellon Corp owned 0.27% of Navitas Semiconductor worth $1,780,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. 180 Wealth Advisors LLC increased its holdings in shares of Navitas Semiconductor by 15.3% in the fourth quarter. 180 Wealth Advisors LLC now owns 90,682 shares of the company’s stock worth $324,000 after acquiring an additional 12,027 shares in the last quarter. Signature Wealth Management Partners LLC bought a new position in shares of Navitas Semiconductor during the fourth quarter worth about $51,000. Benjamin Edwards Inc. bought a new position in shares of Navitas Semiconductor during the third quarter worth about $36,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Navitas Semiconductor by 9.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,141 shares of the company’s stock worth $517,000 after buying an additional 17,390 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Navitas Semiconductor during the third quarter worth about $44,000. 46.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, Director Brian Long sold 47,189 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $2.36, for a total value of $111,366.04. Following the completion of the transaction, the director now directly owns 31,460 shares in the company, valued at $74,245.60. This trade represents a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Todd Glickman sold 13,644 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 directly owns 684,497 shares of the company’s stock, valued at approximately $1,772,847.23. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,477 shares of company stock worth $182,042 over the last ninety days. 31.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NVTS has been the subject of a number of research reports. Rosenblatt Securities reiterated a “buy” rating and set a $5.00 price objective on shares of Navitas Semiconductor in a report on Thursday, March 13th. Needham & Company LLC reiterated a “buy” rating and set a $4.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, February 25th. Finally, Robert W. Baird decreased their price objective on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.11.

Navitas Semiconductor Price Performance

NVTS stock opened at $2.33 on Friday. The business has a 50 day moving average price of $2.87 and a two-hundred day moving average price of $2.81. The company has a market cap of $435.23 million, a price-to-earnings ratio of -5.55 and a beta of 2.23. Navitas Semiconductor Co. has a twelve month low of $1.75 and a twelve month high of $5.14.

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.