Navitas Semiconductor Co. (NASDAQ:NVTS) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in Navitas Semiconductor Co. (NASDAQ:NVTS) by 44.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,140 shares of the company’s stock after selling 51,277 shares during the quarter. JPMorgan Chase & Co.’s holdings in Navitas Semiconductor were worth $233,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Navitas Semiconductor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,873,888 shares of the company’s stock worth $35,250,000 after acquiring an additional 166,115 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Navitas Semiconductor in the 4th quarter worth about $68,000. AXQ Capital LP purchased a new position in Navitas Semiconductor in the 4th quarter worth about $56,000. American Century Companies Inc. raised its holdings in Navitas Semiconductor by 52.7% during the 4th quarter. American Century Companies Inc. now owns 15,704 shares of the company’s stock worth $56,000 after buying an additional 5,419 shares during the period. Finally, Goodman Financial Corp purchased a new stake in Navitas Semiconductor during the fourth quarter valued at about $36,000. Institutional investors own 46.14% of the company’s stock.

Insider Buying and Selling

In related news, CFO Todd Glickman sold 13,644 shares of Navitas Semiconductor stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $2.59, for a total transaction of $35,337.96. Following the sale, the chief financial officer now directly owns 684,497 shares of the company’s stock, valued at $1,772,847.23. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Long sold 47,189 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $2.36, for a total transaction of $111,366.04. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 74,477 shares of company stock valued at $182,042. Company insiders own 31.80% of the company’s stock.

Navitas Semiconductor Stock Up 7.3 %

Shares of Navitas Semiconductor stock opened at $2.05 on Friday. Navitas Semiconductor Co. has a 12-month low of $1.52 and a 12-month high of $5.14. The stock has a market capitalization of $390.59 million, a P/E ratio of -4.88 and a beta of 2.24. The stock has a 50 day moving average price of $2.09 and a two-hundred day moving average price of $2.70.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities restated a “buy” rating and set a $5.00 price target 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 research report on Tuesday, February 25th. Robert W. Baird reduced their target price on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Finally, Morgan Stanley lowered Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $2.10 to $1.50 in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.82.

About Navitas Semiconductor

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.