Analysts Set Navitas Semiconductor Co. (NASDAQ:NVTS) Price Target at $4.11

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $4.11.

NVTS has been the topic of several research reports. Robert W. Baird decreased their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $5.00 price target on shares of Navitas Semiconductor in a report on Thursday, March 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price target on shares of Navitas Semiconductor in a report on Tuesday, February 25th.

Insiders Place Their Bets

In other news, Director Brian Long sold 47,189 shares of the business’s stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Todd Glickman sold 13,644 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 $1,772,847.23. This trade represents a 1.95 % 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 ninety days. 31.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp lifted its position in shares of Navitas Semiconductor by 4.0% in the 3rd quarter. State Street Corp now owns 5,826,638 shares of the company’s stock worth $14,275,000 after purchasing an additional 221,575 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Navitas Semiconductor during the 3rd quarter valued at $943,000. Walleye Capital LLC acquired a new position in shares of Navitas Semiconductor during the 3rd quarter valued at $283,000. Wesbanco Bank Inc. acquired a new position in shares of Navitas Semiconductor during the 4th quarter valued at $357,000. Finally, Point72 Asset Management L.P. lifted its position in shares of 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 acquiring an additional 3,748,124 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

Shares of Navitas Semiconductor stock opened at $2.33 on Monday. The firm has a market capitalization of $435.23 million, a PE ratio of -5.55 and a beta of 2.23. The firm’s 50 day moving average is $2.87 and its 200 day moving average is $2.81. Navitas Semiconductor has a 1 year low of $1.75 and a 1 year high of $5.14.

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.