Navitas Semiconductor Co. (NASDAQ:NVTS) Director Brian Long Sells 47,189 Shares of Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Brian Long sold 47,189 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 31,460 shares in the company, valued at approximately $74,245.60. The trade was a 60.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Navitas Semiconductor Stock Performance

NVTS opened at $2.33 on Friday. The stock has a 50-day moving average price of $2.87 and a 200-day moving average price of $2.81. Navitas Semiconductor Co. has a 12-month low of $1.75 and a 12-month high of $5.14. The stock has a market capitalization of $435.23 million, a P/E ratio of -5.55 and a beta of 2.23.

Institutional Investors Weigh In On Navitas Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of NVTS. Vanguard Group Inc. raised its position in shares of Navitas Semiconductor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,873,888 shares of the company’s stock worth $35,250,000 after acquiring an additional 166,115 shares in the last quarter. Point72 Asset Management L.P. increased its position in Navitas Semiconductor by 87.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock valued at $19,677,000 after buying an additional 3,748,124 shares in the last quarter. State Street Corp increased its position in Navitas Semiconductor by 4.0% during the 3rd quarter. State Street Corp now owns 5,826,638 shares of the company’s stock valued at $14,275,000 after buying an additional 221,575 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its position in Navitas Semiconductor by 31.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock valued at $8,713,000 after buying an additional 845,664 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Navitas Semiconductor by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 3,081,916 shares of the company’s stock valued at $11,005,000 after buying an additional 113,277 shares in the last quarter. Institutional investors own 46.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NVTS. Robert W. Baird decreased their price objective 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. Needham & Company LLC reiterated a “buy” rating and set a $4.00 price objective on shares of Navitas Semiconductor in a research note on Tuesday, February 25th. Finally, Rosenblatt Securities restated a “buy” rating and set a $5.00 target price on shares of Navitas Semiconductor in a research report on Thursday, March 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Navitas Semiconductor currently has an average rating of “Moderate Buy” and an average price target of $4.11.

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.