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

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

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

Insiders Place Their Bets

In other Navitas Semiconductor news, CFO Todd Glickman sold 13,644 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total value of $35,337.96. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Long sold 47,189 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $2.36, for a total transaction of $111,366.04. Following the completion of the sale, the director now owns 31,460 shares in the company, valued at approximately $74,245.60. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,477 shares of company stock worth $182,042. 31.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors have recently made changes to their positions in NVTS. Benjamin Edwards Inc. purchased a new stake in shares of Navitas Semiconductor during the third quarter valued at approximately $36,000. Goodman Financial Corp purchased a new stake in shares of Navitas Semiconductor during the fourth quarter valued at approximately $36,000. Caption Management LLC purchased a new stake in shares of Navitas Semiconductor during the fourth quarter valued at approximately $36,000. Tower Research Capital LLC TRC grew its holdings in shares of 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 buying an additional 5,726 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC purchased a new stake in shares of Navitas Semiconductor during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Stock Performance

Shares of NASDAQ:NVTS opened at $2.33 on Monday. The company has a market cap of $435.23 million, a price-to-earnings ratio of -5.55 and a beta of 2.23. The company has a 50-day moving average price of $2.87 and a 200-day moving average price of $2.81. Navitas Semiconductor has a 12 month low of $1.75 and a 12 month high of $5.14.

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.