Robert W. Baird Lowers Navitas Semiconductor (NASDAQ:NVTS) Price Target to $4.00

Navitas Semiconductor (NASDAQ:NVTS) had its target price cut by Robert W. Baird from $5.00 to $4.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently commented on the stock. Rosenblatt Securities reissued a “buy” rating and set a $5.00 price target on shares of Navitas Semiconductor in a research report on Thursday, February 20th. Craig Hallum dropped their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 target price on shares of Navitas Semiconductor in a report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $4.11.

Navitas Semiconductor Price Performance

Shares of NASDAQ:NVTS opened at $2.64 on Wednesday. The company’s 50-day moving average price is $3.21 and its two-hundred day moving average price is $2.86. Navitas Semiconductor has a one year low of $1.75 and a one year high of $5.66. The stock has a market capitalization of $493.14 million, a PE ratio of -6.29 and a beta of 2.20.

Insider Activity at Navitas Semiconductor

In related news, Director Richard J. Hendrix sold 80,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $4.04, for a total value of $323,200.00. Following the transaction, the director now owns 356,709 shares in the company, valued at approximately $1,441,104.36. This represents a 18.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $35,337.96. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,288 shares of company stock worth $575,476. Insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new position in shares of Navitas Semiconductor during the 4th quarter worth approximately $94,000. ProShare Advisors LLC grew its position in shares of Navitas Semiconductor by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 35,532 shares of the company’s stock worth $127,000 after purchasing an additional 11,692 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Navitas Semiconductor during the 4th quarter worth approximately $52,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Navitas Semiconductor during the 4th quarter worth approximately $90,000. Finally, Deutsche Bank AG lifted its holdings in shares of Navitas Semiconductor by 72.8% during the 4th quarter. Deutsche Bank AG now owns 121,203 shares of the company’s stock worth $433,000 after acquiring an additional 51,045 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.