TCG Advisory Services LLC Buys New Stake in Navitas Semiconductor Co. (NASDAQ:NVTS)

TCG Advisory Services LLC bought a new stake in Navitas Semiconductor Co. (NASDAQ:NVTS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 16,297 shares of the company’s stock, valued at approximately $132,000.

Several other institutional investors and hedge funds have also bought and sold shares of NVTS. Vanguard Group Inc. raised its position in shares of Navitas Semiconductor by 14.2% in the 3rd quarter. Vanguard Group Inc. now owns 8,572,707 shares of the company’s stock valued at $59,580,000 after purchasing an additional 1,064,010 shares during the last quarter. New York State Common Retirement Fund increased its stake in Navitas Semiconductor by 9.0% during the 4th quarter. New York State Common Retirement Fund now owns 967,783 shares of the company’s stock valued at $7,810,000 after purchasing an additional 79,722 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Navitas Semiconductor by 37.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 905,524 shares of the company’s stock worth $6,293,000 after buying an additional 248,143 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Navitas Semiconductor by 9.3% in the third quarter. Bank of New York Mellon Corp now owns 392,743 shares of the company’s stock worth $2,730,000 after buying an additional 33,320 shares during the last quarter. Finally, Barclays PLC lifted its stake 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 buying an additional 352,044 shares during the period. 46.14% of the stock is owned by hedge funds and other institutional investors.

Navitas Semiconductor Stock Up 3.2 %

NASDAQ:NVTS opened at $4.80 on Tuesday. The firm’s fifty day moving average is $4.65 and its two-hundred day moving average is $5.96. Navitas Semiconductor Co. has a one year low of $3.54 and a one year high of $11.16.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Thursday, February 29th. The company reported ($0.11) 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 the consensus estimate of $25.68 million. Navitas Semiconductor had a negative return on equity of 18.81% and a negative net margin of 183.04%. Research analysts forecast that Navitas Semiconductor Co. will post -0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eugene Sheridan sold 38,431 shares of Navitas Semiconductor 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 $184,468.80. Following the completion of the transaction, the chief executive officer now directly owns 3,061,631 shares of the company’s stock, valued at approximately $14,695,828.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Daniel M. Kinzer sold 24,073 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $115,550.40. Following the sale, the chief operating officer now directly owns 4,538,353 shares of the company’s stock, valued at approximately $21,784,094.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Eugene Sheridan sold 38,431 shares of Navitas Semiconductor stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $184,468.80. Following the completion of the transaction, the chief executive officer now owns 3,061,631 shares of the company’s stock, valued at approximately $14,695,828.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,429 shares of company stock worth $352,459. Corporate insiders own 36.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NVTS. Needham & Company LLC cut their target price on Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Rosenblatt Securities restated a “buy” rating and issued a $12.00 price objective on shares of Navitas Semiconductor in a research note on Friday. Finally, Northland Securities initiated coverage on Navitas Semiconductor in a report on Tuesday, January 16th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Navitas Semiconductor presently has an average rating of “Moderate Buy” and an average price target of $9.82.

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.