Navitas Semiconductor Co. (NASDAQ:NVTS) Given Average Rating of “Moderate Buy” by Analysts

Navitas Semiconductor Co. (NASDAQ:NVTS) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $3.82.

A number of equities research analysts have commented on NVTS shares. Morgan Stanley lowered Navitas Semiconductor from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $2.10 to $1.50 in a research report on Monday. Needham & Company LLC reissued a “buy” rating and set a $4.00 target price on shares of Navitas Semiconductor in a research report on Tuesday, February 25th. Robert W. Baird lowered their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Navitas Semiconductor in a research note on Thursday, March 13th.

Insider Transactions at Navitas Semiconductor

In related news, CFO Todd Glickman sold 13,644 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were 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. This represents a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Long sold 47,189 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $2.36, for a total transaction of $111,366.04. Following the completion of the transaction, the director now directly owns 31,460 shares in the company, valued at approximately $74,245.60. The trade was a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,477 shares of company stock valued at $182,042 in the last 90 days. 31.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Navitas Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of NVTS. Merit Financial Group LLC bought a new stake in Navitas Semiconductor during the first quarter worth $48,000. 180 Wealth Advisors LLC boosted its holdings in Navitas Semiconductor by 7.6% during the 1st quarter. 180 Wealth Advisors LLC now owns 97,602 shares of the company’s stock worth $200,000 after acquiring an additional 6,920 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Navitas Semiconductor in the 4th quarter worth $94,000. ProShare Advisors LLC raised its holdings in shares of Navitas Semiconductor by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 35,532 shares of the company’s stock valued at $127,000 after purchasing an additional 11,692 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Navitas Semiconductor during the fourth quarter valued at about $52,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

Navitas Semiconductor Stock Performance

Shares of NASDAQ:NVTS opened at $1.76 on Friday. The firm has a market cap of $335.33 million, a PE ratio of -4.19 and a beta of 2.24. Navitas Semiconductor has a 52 week low of $1.52 and a 52 week high of $5.14. The firm’s fifty day moving average is $2.45 and its 200-day moving average is $2.76.

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.