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

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $4.11.

A number of analysts have commented on NVTS shares. Rosenblatt Securities restated a “buy” rating and set a $5.00 price target on shares of Navitas Semiconductor in a research note on Thursday, March 13th. Robert W. Baird decreased their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $4.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, February 25th.

Navitas Semiconductor Stock Performance

Shares of NVTS 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 has a fifty day simple moving average of $2.87 and a two-hundred day simple moving average of $2.81. Navitas Semiconductor has a 12 month low of $1.75 and a 12 month high of $5.14.

Insider Transactions at Navitas Semiconductor

In related news, CFO Todd Glickman sold 13,644 shares of the 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 represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Long sold 47,189 shares of the 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 transaction, the director now owns 31,460 shares of the company’s stock, 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 sold a total of 74,477 shares of company stock worth $182,042 in the last quarter. 31.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors have recently added to or reduced their stakes in the stock. Goodman Financial Corp bought a new position in Navitas Semiconductor during the fourth quarter valued at about $36,000. Caption Management LLC bought a new position in Navitas Semiconductor during the fourth quarter valued at about $36,000. Tower Research Capital LLC TRC lifted its holdings in Navitas Semiconductor by 125.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock valued at $37,000 after purchasing an additional 5,726 shares during the last quarter. Steel Grove Capital Advisors LLC purchased a new stake in Navitas Semiconductor during the fourth quarter valued at about $39,000. Finally, Cibc World Markets Corp purchased a new stake in Navitas Semiconductor during the fourth quarter valued at about $42,000. Institutional investors own 46.14% of the company’s stock.

About Navitas Semiconductor

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.