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

Rhumbline Advisers reduced its position in Navitas Semiconductor Co. (NASDAQ:NVTS) by 33.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,013 shares of the company’s stock after selling 90,669 shares during the quarter. Rhumbline Advisers owned 0.09% of Navitas Semiconductor worth $632,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of NVTS. Benjamin Edwards Inc. purchased a new stake in Navitas Semiconductor during the third quarter valued at about $36,000. GSA Capital Partners LLP purchased a new stake in Navitas Semiconductor during the 3rd quarter valued at about $44,000. Signature Wealth Management Partners LLC bought a new position in Navitas Semiconductor during the 4th quarter worth approximately $51,000. PEAK6 Investments LLC purchased a new position in Navitas Semiconductor in the 3rd quarter worth approximately $62,000. Finally, Intech Investment Management LLC bought a new stake in Navitas Semiconductor in the third quarter valued at approximately $79,000. 46.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Navitas Semiconductor news, 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 value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard J. Hendrix sold 40,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 316,709 shares of the company’s stock, valued at approximately $1,437,858.86. This trade 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 valued at $252,276 in the last ninety days. 31.80% of the stock is owned by company insiders.

Navitas Semiconductor Price Performance

NASDAQ NVTS opened at $2.54 on Friday. The stock has a market capitalization of $474.46 million, a PE ratio of -6.05 and a beta of 2.23. The business has a 50 day simple moving average of $3.12 and a two-hundred day simple moving average of $2.85. Navitas Semiconductor Co. has a 1-year low of $1.75 and a 1-year high of $5.46.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NVTS shares. Needham & Company LLC reiterated a “buy” rating and set a $4.00 price target on shares of Navitas Semiconductor in a report on Tuesday, February 25th. Robert W. Baird lowered their price objective 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. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $5.00 target price on shares of Navitas Semiconductor in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Navitas Semiconductor presently has a consensus rating of “Moderate Buy” and a consensus price target 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.