Navitas Semiconductor Co. (NASDAQ:NVTS – Get Rating) COO Daniel M. Kinzer sold 103,538 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $4.38, for a total value of $453,496.44. Following the completion of the transaction, the chief operating officer now directly owns 990,862 shares in the company, valued at approximately $4,339,975.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Navitas Semiconductor Price Performance
NASDAQ NVTS opened at $4.65 on Thursday. The firm has a market cap of $584.51 million, a P/E ratio of -7.75 and a beta of 2.18. The stock’s 50-day moving average is $4.67 and its 200-day moving average is $5.27. Navitas Semiconductor Co. has a one year low of $3.51 and a one year high of $20.10.
Institutional Investors Weigh In On Navitas Semiconductor
Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Navitas Semiconductor by 220.0% in the 1st quarter. Royal Bank of Canada now owns 9,070 shares of the company’s stock valued at $93,000 after buying an additional 6,236 shares during the last quarter. Privium Fund Management B.V. acquired a new stake in Navitas Semiconductor in the 1st quarter valued at approximately $103,000. Beacon Pointe Advisors LLC acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at approximately $39,000. Verition Fund Management LLC acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at approximately $40,000. Finally, Legal & General Group Plc acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at approximately $41,000. Institutional investors and hedge funds own 22.70% of the company’s stock.
Analysts Set New Price Targets
About Navitas Semiconductor
Navitas Semiconductor Corporation designs, develops, and markets gallium nitride (GaN) power integrated circuits used in power conversion and charging. It operates in the United States, Ireland, Germany, Italy, Belgium, China, Taiwan, and the Philippines. The company was incorporated in 2013 and is based in El Segundo, California.
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