Compass Capital Corp MA ADV Buys Shares of 155,000 Navitas Semiconductor Co. (NASDAQ:NVTS)

Compass Capital Corp MA ADV acquired a new stake in Navitas Semiconductor Co. (NASDAQ:NVTS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 155,000 shares of the company's stock, valued at approximately $553,000. Compass Capital Corp MA ADV owned approximately 0.08% of Navitas Semiconductor as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NVTS. State Street Corp grew its holdings in Navitas Semiconductor by 4.0% during the 3rd quarter. State Street Corp now owns 5,826,638 shares of the company's stock valued at $14,275,000 after purchasing an additional 221,575 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in Navitas Semiconductor in the 3rd quarter valued at about $943,000. Walleye Capital LLC acquired a new stake in shares of Navitas Semiconductor during the third quarter valued at about $283,000. Wesbanco Bank Inc. purchased a new stake in shares of Navitas Semiconductor during the fourth quarter worth about $357,000. Finally, Bleakley Financial Group LLC acquired a new position in shares of Navitas Semiconductor in the third quarter worth about $41,000. Hedge funds and other institutional investors own 46.14% of the company's stock.

Navitas Semiconductor Trading Down 17.3 %

Navitas Semiconductor stock traded down $0.50 during mid-day trading on Tuesday, reaching $2.39. The company's stock had a trading volume of 9,797,038 shares, compared to its average volume of 4,303,066. Navitas Semiconductor Co. has a twelve month low of $1.75 and a twelve month high of $7.40. The business has a 50 day moving average price of $3.32 and a 200-day moving average price of $2.89. The firm has a market cap of $446.44 million, a price-to-earnings ratio of -5.69 and a beta of 2.20.

Wall Street Analyst Weigh In

NVTS has been the subject of a number of recent analyst reports. Needham & Company LLC restated a "buy" rating and set a $4.00 price objective on shares of Navitas Semiconductor in a research note on Tuesday. Rosenblatt Securities reissued a "buy" rating and set a $5.00 price target on shares of Navitas Semiconductor in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Craig Hallum reduced their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. Finally, Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday, November 5th. Two equities research 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 stock presently has an average rating of "Moderate Buy" and an average price target of $4.25.

Insider Activity

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $4.54, for a total value of $181,600.00. Following the transaction, the director now owns 316,709 shares of the company's stock, valued at $1,437,858.86. This trade represents a 11.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 31.80% of the company's stock.

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.