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

Navitas Semiconductor Co. (NASDAQ:NVTS) 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 value of $111,366.04. Following 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 SEC, which is available at this hyperlink.

Navitas Semiconductor Stock Performance

Shares of NASDAQ:NVTS opened at $2.33 on Monday. The firm has a market cap of $435.23 million, a PE ratio of -5.55 and a beta of 2.23. The company has a fifty day simple moving average of $2.87 and a 200 day simple moving average of $2.81. Navitas Semiconductor Co. has a 12-month low of $1.75 and a 12-month high of $5.14.

Wall Street Analysts Forecast Growth

NVTS has been the subject of several recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Navitas Semiconductor in a research report on Thursday, March 13th. 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. Finally, Robert W. Baird cut their price objective 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. 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, the company has an average rating of “Moderate Buy” and an average target price of $4.11.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of NVTS. Point72 Asset Management L.P. grew its stake in Navitas Semiconductor by 87.5% in the third quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock worth $19,677,000 after purchasing an additional 3,748,124 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings 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 worth $8,713,000 after buying an additional 845,664 shares during the last quarter. Bank of America Corp DE grew its position in shares of Navitas Semiconductor by 180.5% in the 4th quarter. Bank of America Corp DE now owns 1,234,375 shares of the company’s stock worth $4,407,000 after acquiring an additional 794,371 shares in the last quarter. Mirabella Financial Services LLP bought a new stake in shares of Navitas Semiconductor in the 3rd quarter valued at approximately $943,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Navitas Semiconductor in the 4th quarter valued at approximately $1,170,000. Institutional investors 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.