Fortitude Advisory Group L.L.C. Invests $487,000 in Navitas Semiconductor Corporation $NVTS

Fortitude Advisory Group L.L.C. acquired a new stake in Navitas Semiconductor Corporation (NASDAQ:NVTS) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 67,495 shares of the company’s stock, valued at approximately $487,000.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Navitas Semiconductor by 3.9% during the second quarter. Geode Capital Management LLC now owns 3,340,193 shares of the company’s stock worth $21,882,000 after acquiring an additional 124,594 shares in the last quarter. Invesco Ltd. raised its position in Navitas Semiconductor by 75.2% during the second quarter. Invesco Ltd. now owns 3,206,008 shares of the company’s stock worth $20,999,000 after acquiring an additional 1,376,205 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Navitas Semiconductor by 1,332.3% in the second quarter. BNP Paribas Financial Markets now owns 1,604,538 shares of the company’s stock valued at $10,510,000 after acquiring an additional 1,492,512 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Navitas Semiconductor by 1,742.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,428,386 shares of the company’s stock valued at $9,356,000 after acquiring an additional 1,350,857 shares during the period. Finally, FORA Capital LLC bought a new position in Navitas Semiconductor during the second quarter worth about $3,309,000. Institutional investors and hedge funds own 46.14% of the company’s stock.

Insider Buying and Selling

In other news, Director Gary Kent Wunderlich, Jr. sold 78,649 shares of Navitas Semiconductor stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $9.25, for a total value of $727,503.25. Following the transaction, the director owned 136,615 shares in the company, valued at approximately $1,263,688.75. This trade represents a 36.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ranbir Singh sold 179,354 shares of Navitas Semiconductor stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $8.68, for a total value of $1,556,792.72. Following the completion of the transaction, the director owned 389,096 shares in the company, valued at approximately $3,377,353.28. This represents a 31.55% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,330,585 shares of company stock worth $28,342,998. 29.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Navitas Semiconductor Price Performance

Shares of NASDAQ NVTS opened at $8.86 on Friday. Navitas Semiconductor Corporation has a fifty-two week low of $1.52 and a fifty-two week high of $17.79. The business has a fifty day moving average price of $8.91 and a two-hundred day moving average price of $8.56. The stock has a market capitalization of $2.04 billion, a PE ratio of -13.84 and a beta of 3.16.

Navitas Semiconductor Company Profile

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.