MYDA Advisors LLC Decreases Holdings in Navitas Semiconductor Co. (NASDAQ:NVTS)

MYDA Advisors LLC reduced its stake in Navitas Semiconductor Co. (NASDAQ:NVTS) by 30.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 420,000 shares of the company’s stock after selling 180,000 shares during the quarter. MYDA Advisors LLC owned 0.22% of Navitas Semiconductor worth $1,499,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NVTS. Goodman Financial Corp purchased a new position in Navitas Semiconductor in the fourth quarter valued at about $36,000. Cibc World Markets Corp bought a new stake in shares of Navitas Semiconductor in the 4th quarter worth approximately $42,000. Raymond James Financial Inc. purchased a new position in Navitas Semiconductor in the fourth quarter valued at approximately $44,000. Signature Wealth Management Partners LLC bought a new position in Navitas Semiconductor during the fourth quarter valued at $51,000. Finally, AXQ Capital LP purchased a new stake in Navitas Semiconductor in the fourth quarter worth $56,000. Institutional investors own 46.14% of the company’s stock.

Insider Buying and Selling

In other Navitas Semiconductor news, Director Brian Long sold 47,189 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $2.36, for a total value of $111,366.04. Following the completion of the transaction, the director now owns 31,460 shares of the company’s stock, valued at $74,245.60. The trade was a 60.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Todd Glickman sold 13,644 shares of Navitas Semiconductor stock in a transaction on 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 represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,477 shares of company stock worth $182,042. Corporate insiders own 31.80% of the company’s stock.

Navitas Semiconductor Price Performance

NASDAQ NVTS opened at $1.82 on Friday. The company’s 50 day simple moving average is $2.31 and its two-hundred day simple moving average is $2.73. Navitas Semiconductor Co. has a 1 year low of $1.52 and a 1 year high of $5.14. The stock has a market capitalization of $346.76 million, a PE ratio of -4.33 and a beta of 2.24.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NVTS shares. Rosenblatt Securities reiterated a “buy” rating and set a $5.00 price target on shares of Navitas Semiconductor in a research note on Thursday, March 13th. Robert W. Baird lowered their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley cut shares of 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 note on Monday, April 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $4.00 target price on shares of Navitas Semiconductor in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $3.82.

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.