XTX Topco Ltd Purchases Shares of 159,736 Navitas Semiconductor Co. (NASDAQ:NVTS)

XTX Topco Ltd purchased a new position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) during the 4th quarter, Holdings Channel.com reports. The fund purchased 159,736 shares of the company’s stock, valued at approximately $570,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVTS. Vanguard Group Inc. raised its stake in Navitas Semiconductor by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,873,888 shares of the company’s stock valued at $35,250,000 after buying an additional 166,115 shares during the period. State Street Corp lifted 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 during the last quarter. Geode Capital Management LLC boosted its position in Navitas Semiconductor by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 3,081,916 shares of the company’s stock worth $11,005,000 after purchasing an additional 113,277 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Navitas Semiconductor by 7.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,046,750 shares of the company’s stock valued at $3,737,000 after purchasing an additional 76,870 shares during the last quarter. Finally, DnB Asset Management AS raised its position in shares of Navitas Semiconductor by 109.8% in the fourth quarter. DnB Asset Management AS now owns 506,124 shares of the company’s stock valued at $1,807,000 after purchasing an additional 264,906 shares during the period. Institutional investors own 46.14% of the company’s stock.

Insider Buying and Selling at Navitas Semiconductor

In related news, Director Brian Long sold 47,189 shares of Navitas Semiconductor stock in a transaction that occurred 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 sale, the director now directly owns 31,460 shares of the company’s stock, valued at approximately $74,245.60. The trade was a 60.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Todd Glickman sold 13,644 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total transaction of $35,337.96. Following the completion of the transaction, the chief financial officer now directly owns 684,497 shares of the company’s stock, valued at approximately $1,772,847.23. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,477 shares of company stock worth $182,042 over the last three months. Corporate insiders own 31.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NVTS. Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 price target on shares of Navitas Semiconductor in a research note on Thursday, March 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, February 25th. Morgan Stanley downgraded Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $2.10 to $1.50 in a report on Monday, April 7th. Finally, Robert W. Baird dropped 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, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Navitas Semiconductor has a consensus rating of “Moderate Buy” and an average price target of $3.82.

Navitas Semiconductor Trading Up 5.2 %

Shares of NASDAQ:NVTS opened at $1.82 on Friday. The stock has a market capitalization of $346.76 million, a PE ratio of -4.33 and a beta of 2.24. The firm has a 50 day moving average of $2.31 and a 200-day moving average of $2.73. Navitas Semiconductor Co. has a 12 month low of $1.52 and a 12 month high of $5.14.

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.