Navitas Semiconductor Co. (NASDAQ:NVTS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $4.75.

Several equities research analysts have recently weighed in on the company. Robert W. Baird reduced their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Craig Hallum cut their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $5.00 target price on shares of Navitas Semiconductor in a research report on Thursday.

Insider Activity

In related news, Director Richard J. Hendrix sold 80,000 shares of the 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 completion of the transaction, the director now owns 356,709 shares of the company’s stock, valued at $1,441,104.36. This represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 31.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several large investors have recently modified their holdings of NVTS. Point72 Asset Management L.P. grew its position 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 valued at $19,677,000 after acquiring an additional 3,748,124 shares during the period. ArrowMark Colorado Holdings LLC boosted its position in Navitas Semiconductor by 31.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock valued at $8,713,000 after buying an additional 845,664 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Navitas Semiconductor by 180.5% during the fourth quarter. Bank of America Corp DE now owns 1,234,375 shares of the company’s stock worth $4,407,000 after buying an additional 794,371 shares in the last quarter. Mirabella Financial Services LLP bought a new stake in Navitas Semiconductor during the 3rd quarter worth approximately $943,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Navitas Semiconductor during the 4th quarter valued at $1,170,000. 46.14% of the stock is currently owned by institutional investors.

Navitas Semiconductor Stock Up 3.3 %

Shares of NASDAQ:NVTS opened at $3.44 on Thursday. The company has a market cap of $642.59 million, a price-to-earnings ratio of -8.19 and a beta of 2.20. The business has a 50 day moving average price of $3.34 and a 200 day moving average price of $2.89. Navitas Semiconductor has a twelve month low of $1.75 and a twelve month high of $7.40.

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.