ExodusPoint Capital Management LP Makes New Investment in Navitas Semiconductor Co. (NASDAQ:NVTS)

ExodusPoint Capital Management LP bought a new position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 25,124 shares of the company’s stock, valued at approximately $90,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. grew its stake in Navitas Semiconductor by 52.7% in the fourth quarter. American Century Companies Inc. now owns 15,704 shares of the company’s stock worth $56,000 after purchasing an additional 5,419 shares in the last quarter. Goodman Financial Corp purchased a new stake in shares of Navitas Semiconductor in the 4th quarter worth $36,000. Cibc World Markets Corp bought a new position in shares of Navitas Semiconductor during the 4th quarter worth $42,000. 180 Wealth Advisors LLC increased its stake in shares of Navitas Semiconductor by 15.3% during the fourth quarter. 180 Wealth Advisors LLC now owns 90,682 shares of the company’s stock valued at $324,000 after buying an additional 12,027 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Navitas Semiconductor in the fourth quarter valued at about $44,000. Institutional investors own 46.14% of the company’s stock.

Wall Street Analyst Weigh In

NVTS has been the topic of several recent research reports. Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley lowered shares of Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $2.10 to $1.50 in a report on Monday, April 7th. Needham & Company LLC restated a “buy” rating and set a $4.00 target price on shares of Navitas Semiconductor in a report on Tuesday, February 25th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 price target on shares of Navitas Semiconductor in a report on Thursday, March 13th. One 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. According to MarketBeat, Navitas Semiconductor presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.82.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, Director Brian Long sold 47,189 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $2.36, for a total value of $111,366.04. Following the completion of the sale, the director now directly owns 31,460 shares in the company, valued at approximately $74,245.60. This trade represents a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Todd Glickman sold 13,644 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $2.59, for a total value of $35,337.96. Following the sale, the chief financial officer now owns 684,497 shares in the company, valued at $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 74,477 shares of company stock valued at $182,042 in the last quarter. 31.80% of the stock is currently owned by corporate insiders.

Navitas Semiconductor Stock Down 3.3 %

Shares of NVTS opened at $1.74 on Tuesday. The company has a 50 day moving average of $2.40 and a two-hundred day moving average of $2.75. The company has a market cap of $331.52 million, a price-to-earnings ratio of -4.14 and a beta of 2.24. Navitas Semiconductor Co. has a twelve month low of $1.52 and a twelve month high of $5.14.

Navitas Semiconductor Company 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.