Mach 1 Financial Group LLC Makes New Investment in Navitas Semiconductor Co. (NASDAQ:NVTS)

Mach 1 Financial Group LLC bought a new position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 52,028 shares of the company’s stock, valued at approximately $420,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Navitas Semiconductor by 14.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,572,707 shares of the company’s stock valued at $59,580,000 after acquiring an additional 1,064,010 shares during the last quarter. Barclays PLC lifted its holdings in shares of Navitas Semiconductor by 898.2% during the third quarter. Barclays PLC now owns 391,238 shares of the company’s stock worth $2,720,000 after purchasing an additional 352,044 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Navitas Semiconductor by 37.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 905,524 shares of the company’s stock valued at $6,293,000 after buying an additional 248,143 shares during the period. Chartwell Investment Partners LLC purchased a new position in Navitas Semiconductor during the 3rd quarter worth $705,000. Finally, New York State Common Retirement Fund lifted its stake in shares of Navitas Semiconductor by 9.0% in the 4th quarter. New York State Common Retirement Fund now owns 967,783 shares of the company’s stock worth $7,810,000 after acquiring an additional 79,722 shares during the period. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Analysts Set New Price Targets

NVTS has been the subject of several analyst reports. Northland Securities assumed coverage on shares of Navitas Semiconductor in a report on Tuesday, January 16th. They set a “market perform” rating for the company. Needham & Company LLC decreased their price target on Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $12.00 target price on shares of Navitas Semiconductor in a report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.82.

Navitas Semiconductor Trading Down 0.2 %

Shares of NASDAQ NVTS traded down $0.01 during trading on Wednesday, reaching $4.32. The company had a trading volume of 355,693 shares, compared to its average volume of 2,856,134. The stock has a market capitalization of $774.36 million, a PE ratio of -4.81 and a beta of 2.54. Navitas Semiconductor Co. has a twelve month low of $3.54 and a twelve month high of $11.16. The stock has a 50-day moving average price of $4.76 and a two-hundred day moving average price of $6.00.

Navitas Semiconductor (NASDAQ:NVTS) last announced its earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $26.06 million for the quarter, compared to analyst estimates of $25.68 million. Navitas Semiconductor had a negative net margin of 183.04% and a negative return on equity of 18.81%. On average, sell-side analysts predict that Navitas Semiconductor Co. will post -0.46 EPS for the current year.

Insider Activity

In other Navitas Semiconductor news, EVP Ranbir Singh sold 10,925 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.80, for a total value of $52,440.00. Following the sale, the executive vice president now directly owns 29,357 shares of the company’s stock, valued at approximately $140,913.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Ranbir Singh sold 10,925 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $52,440.00. Following the completion of the transaction, the executive vice president now owns 29,357 shares of the company’s stock, valued at $140,913.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eugene Sheridan sold 38,431 shares of Navitas Semiconductor stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $184,468.80. Following the completion of the transaction, the chief executive officer now owns 3,061,631 shares in the company, valued at approximately $14,695,828.80. The disclosure for this sale can be found here. Insiders sold a total of 73,429 shares of company stock valued at $352,459 over the last quarter. Company insiders own 36.80% of the company’s stock.

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.