Edge Capital Group LLC Acquires New Holdings in Navitas Semiconductor Co. (NASDAQ:NVTS)

Edge Capital Group LLC bought a new stake in Navitas Semiconductor Co. (NASDAQ:NVTS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 276,595 shares of the company's stock, valued at approximately $987,000. Edge Capital Group LLC owned approximately 0.15% of Navitas Semiconductor at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Creative Planning bought a new position in shares of Navitas Semiconductor in the 3rd quarter valued at about $122,000. GSA Capital Partners LLP bought a new stake in Navitas Semiconductor during the third quarter worth $44,000. Intech Investment Management LLC bought a new position in shares of Navitas Semiconductor in the 3rd quarter valued at about $79,000. Mirabella Financial Services LLP bought a new stake in shares of Navitas Semiconductor in the 3rd quarter valued at about $943,000. Finally, FMR LLC grew its holdings in Navitas Semiconductor by 4,798.3% during the third quarter. FMR LLC now owns 114,326 shares of the company's stock worth $280,000 after purchasing an additional 111,992 shares during the period. Institutional investors own 46.14% of the company's stock.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 40,000 shares of the company'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 represents a 11.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 31.80% of the company's stock.

Navitas Semiconductor Trading Up 2.5 %

Shares of NASDAQ:NVTS traded up $0.06 on Friday, reaching $2.44. 4,063,036 shares of the company's stock were exchanged, compared to its average volume of 4,325,678. Navitas Semiconductor Co. has a twelve month low of $1.75 and a twelve month high of $7.40. The company has a fifty day moving average of $3.28 and a 200-day moving average of $2.88. The company has a market capitalization of $455.78 million, a price-to-earnings ratio of -5.81 and a beta of 2.20.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NVTS shares. Deutsche Bank Aktiengesellschaft cut their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a "buy" rating and issued a $4.00 price objective on shares of Navitas Semiconductor in a report on Tuesday. Rosenblatt Securities restated a "buy" rating and set a $5.00 target price on shares of Navitas Semiconductor in a research note on Thursday, February 20th. Craig Hallum decreased their price target 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 cut their price objective 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Navitas Semiconductor currently has a consensus rating of "Moderate Buy" and a consensus target price of $4.25.

Navitas Semiconductor 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.