Goodman Financial Corp Invests $36,000 in Navitas Semiconductor Co. (NASDAQ:NVTS)

Goodman Financial Corp acquired a new position in shares of Navitas Semiconductor Co. (NASDAQ:NVTS) in the 4th quarter, Holdings Channel.com reports. The fund acquired 10,000 shares of the company’s stock, valued at approximately $36,000.

Several other large investors also recently made changes to their positions in NVTS. Point72 Asset Management L.P. increased its position in shares of Navitas Semiconductor by 87.5% during the third quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock worth $19,677,000 after acquiring an additional 3,748,124 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its position in Navitas Semiconductor by 31.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock valued at $8,713,000 after purchasing an additional 845,664 shares in the last quarter. Mirabella Financial Services LLP bought a new position in Navitas Semiconductor in the third quarter valued at $943,000. Edge Capital Group LLC bought a new position in Navitas Semiconductor in the fourth quarter valued at $987,000. Finally, State Street Corp grew its position in Navitas Semiconductor by 4.0% in the third quarter. State Street Corp now owns 5,826,638 shares of the company’s stock valued at $14,275,000 after purchasing an additional 221,575 shares in the last quarter. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Price Performance

Shares of NVTS stock opened at $2.33 on Friday. The stock has a market cap of $435.23 million, a P/E ratio of -5.55 and a beta of 2.23. The company has a fifty day moving average price of $2.89 and a two-hundred day moving average price of $2.82. Navitas Semiconductor Co. has a one year low of $1.75 and a one year high of $5.14.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed 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 reaffirmed a “buy” rating and issued a $4.00 target price on shares of Navitas Semiconductor in a research report on Tuesday, February 25th. Finally, Robert W. Baird decreased their target price on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.11.

Insider Buying and Selling at Navitas Semiconductor

In other news, CFO Todd Glickman sold 13,644 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total transaction of $35,337.96. Following the completion of the sale, the chief financial officer now owns 684,497 shares in the company, valued at approximately $1,772,847.23. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 31.80% of the company’s stock.

About Navitas Semiconductor

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.