Cibc World Markets Corp Buys New Position in Navitas Semiconductor Co. (NASDAQ:NVTS)

Cibc World Markets Corp purchased a new position in Navitas Semiconductor Co. (NASDAQ:NVTS) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,807 shares of the company’s stock, valued at approximately $42,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Intech Investment Management LLC acquired a new stake in Navitas Semiconductor during the 3rd quarter worth about $79,000. FMR LLC increased its holdings in shares of Navitas Semiconductor by 4,798.3% in the 3rd quarter. FMR LLC now owns 114,326 shares of the company’s stock valued at $280,000 after purchasing an additional 111,992 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Navitas Semiconductor by 9.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,141 shares of the company’s stock valued at $517,000 after purchasing an additional 17,390 shares during the period. PEAK6 Investments LLC purchased a new stake in shares of Navitas Semiconductor in the third quarter worth approximately $62,000. Finally, Walleye Capital LLC acquired a new stake in shares of Navitas Semiconductor during the third quarter worth approximately $283,000. 46.14% of the stock is owned by institutional investors and hedge funds.

Navitas Semiconductor Trading Down 10.3 %

Shares of NASDAQ:NVTS opened at $1.83 on Friday. Navitas Semiconductor Co. has a 1 year low of $1.75 and a 1 year high of $5.14. The firm has a fifty day moving average price of $2.75 and a 200 day moving average price of $2.80. The stock has a market capitalization of $341.84 million, a PE ratio of -4.36 and a beta of 2.23.

Insider Transactions at Navitas Semiconductor

In related news, CFO Todd Glickman sold 13,644 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $2.59, for a total value of $35,337.96. Following the completion of the sale, the chief financial officer now directly owns 684,497 shares in the company, valued at approximately $1,772,847.23. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Long sold 47,189 shares of the 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 transaction, the director now owns 31,460 shares in the company, valued at approximately $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 quarter, insiders sold 74,477 shares of company stock worth $182,042. 31.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NVTS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 target price on shares of Navitas Semiconductor in a research 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 report on Tuesday, February 25th. Finally, Robert W. Baird lowered their target price on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Moderate Buy” and an average target price of $4.11.

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.