Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $4.11 Consensus Target Price from Analysts

Navitas Semiconductor Co. (NASDAQ:NVTS) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $4.11.

A number of research firms have weighed in on NVTS. Needham & Company LLC reiterated a “buy” rating and set a $4.00 target price on shares of Navitas Semiconductor in a report on Tuesday, February 25th. Robert W. Baird reduced their price target on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 target price on shares of Navitas Semiconductor in a research report on Thursday, March 13th.

Navitas Semiconductor Price Performance

Shares of NASDAQ NVTS opened at $2.53 on Monday. Navitas Semiconductor has a 1 year low of $1.75 and a 1 year high of $5.14. The company’s 50-day moving average is $2.91 and its 200 day moving average is $2.82. The stock has a market capitalization of $472.59 million, a P/E ratio of -6.02 and a beta of 2.23.

Insider Transactions at Navitas Semiconductor

In other news, CFO Todd Glickman sold 13,644 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total transaction of $35,337.96. Following the sale, the chief financial officer now owns 684,497 shares in the company, valued at $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 SEC, which is available through the SEC website. Insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its position in shares of Navitas Semiconductor by 52.7% during the fourth quarter. American Century Companies Inc. now owns 15,704 shares of the company’s stock valued at $56,000 after buying an additional 5,419 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Navitas Semiconductor by 125.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock valued at $37,000 after acquiring an additional 5,726 shares during the last quarter. Goodman Financial Corp bought a new stake in shares of Navitas Semiconductor in the fourth quarter worth approximately $36,000. Caption Management LLC purchased a new position in shares of Navitas Semiconductor during the fourth quarter valued at approximately $36,000. Finally, Steel Grove Capital Advisors LLC purchased a new position in shares of Navitas Semiconductor during the fourth quarter valued at approximately $39,000. 46.14% of the stock is currently owned by hedge funds and other institutional investors.

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.