67,495 Shares in Navitas Semiconductor Corporation $NVTS Bought by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. bought a new stake in Navitas Semiconductor Corporation (NASDAQ:NVTS) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 67,495 shares of the company’s stock, valued at approximately $487,000.

A number of other hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC increased its stake in shares of Navitas Semiconductor by 189.8% in the second quarter. NewEdge Advisors LLC now owns 4,492 shares of the company’s stock valued at $29,000 after buying an additional 2,942 shares during the period. CWM LLC grew its holdings in Navitas Semiconductor by 24.7% during the 3rd quarter. CWM LLC now owns 4,515 shares of the company’s stock worth $33,000 after acquiring an additional 893 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Navitas Semiconductor by 1,376.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 5,285 shares of the company’s stock valued at $38,000 after acquiring an additional 4,927 shares during the period. Cranbrook Wealth Management LLC increased its position in Navitas Semiconductor by 72.5% in the 3rd quarter. Cranbrook Wealth Management LLC now owns 6,637 shares of the company’s stock valued at $48,000 after acquiring an additional 2,789 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Navitas Semiconductor by 1,510.4% during the second quarter. PNC Financial Services Group Inc. now owns 7,424 shares of the company’s stock valued at $49,000 after acquiring an additional 6,963 shares during the last quarter. 46.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NVTS shares. Jefferies Financial Group raised shares of Navitas Semiconductor to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Thursday, January 22nd. Needham & Company LLC raised their price objective on Navitas Semiconductor from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Navitas Semiconductor in a research note on Monday, November 10th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Hold” and an average price target of $6.48.

Insider Buying and Selling

In related news, Director Brian Long sold 1,493,046 shares of Navitas Semiconductor stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $8.54, for a total value of $12,750,612.84. Following the completion of the sale, the director owned 222,349 shares of the company’s stock, valued at approximately $1,898,860.46. This trade represents a 87.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ranbir Singh sold 179,354 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $8.68, for a total transaction of $1,556,792.72. Following the transaction, the director owned 389,096 shares in the company, valued at approximately $3,377,353.28. The trade was a 31.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,330,585 shares of company stock worth $28,342,998 over the last quarter. Corporate insiders own 29.90% of the company’s stock.

Navitas Semiconductor Price Performance

Shares of NVTS opened at $8.86 on Friday. The stock has a 50-day moving average of $8.91 and a 200-day moving average of $8.56. Navitas Semiconductor Corporation has a one year low of $1.52 and a one year high of $17.79. The company has a market cap of $2.04 billion, a PE ratio of -13.84 and a beta of 3.16.

About Navitas Semiconductor

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.