Insider Selling: Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells 47,189 Shares of Stock

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 Friday. Navitas Semiconductor Co. has a twelve month low of $1.75 and a twelve month high of $5.14. The company has a market capitalization of $435.23 million, a price-to-earnings ratio of -5.55 and a beta of 2.23. The business has a 50 day simple moving average of $2.87 and a 200-day simple moving average of $2.81.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC bought a new stake in shares of Navitas Semiconductor in the 4th quarter valued at approximately $94,000. ProShare Advisors LLC boosted its position in Navitas Semiconductor by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 35,532 shares of the company’s stock valued at $127,000 after purchasing an additional 11,692 shares during the period. Millennium Management LLC acquired a new position in Navitas Semiconductor during the 4th quarter valued at approximately $52,000. D. E. Shaw & Co. Inc. acquired a new position in Navitas Semiconductor during the 4th quarter valued at approximately $90,000. Finally, Deutsche Bank AG boosted its position in Navitas Semiconductor by 72.8% during the 4th quarter. Deutsche Bank AG now owns 121,203 shares of the company’s stock valued at $433,000 after purchasing an additional 51,045 shares during the period. 46.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NVTS shares. Robert W. Baird dropped their target price on 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 restated a “buy” rating and set a $5.00 price objective on shares of Navitas Semiconductor in a report on Thursday, March 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $4.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.11.

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.