Navitas Semiconductor Co. (NASDAQ:NVTS) Given Average Rating of "Moderate Buy" by Brokerages

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seven brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $4.11.

A number of research firms have weighed in on NVTS. Needham & Company LLC reaffirmed 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 lowered 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 note on Wednesday, March 5th. Finally, Rosenblatt Securities restated a "buy" rating and set a $5.00 price objective on shares of Navitas Semiconductor in a research note on Thursday.

Insider Activity

In related news, CFO Todd Glickman sold 13,644 shares of the stock in a transaction on Wednesday, February 26th. The stock was 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 31.80% of the company's stock.

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Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Navitas Semiconductor by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,873,888 shares of the company's stock valued at $35,250,000 after purchasing an additional 166,115 shares during the last quarter. Point72 Asset Management L.P. increased its position in Navitas Semiconductor by 87.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company's stock worth $19,677,000 after buying an additional 3,748,124 shares during the period. State Street Corp lifted its holdings in shares of Navitas Semiconductor by 4.0% during the third quarter. State Street Corp now owns 5,826,638 shares of the company's stock worth $14,275,000 after buying an additional 221,575 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its position in shares of 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 acquiring an additional 845,664 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Navitas Semiconductor by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 3,081,916 shares of the company's stock valued at $11,005,000 after acquiring an additional 113,277 shares during the period. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Navitas Semiconductor Stock Up 6.0 %

Shares of NASDAQ:NVTS traded up $0.15 during mid-day trading on Monday, reaching $2.65. 4,115,377 shares of the stock were exchanged, compared to its average volume of 3,581,797. The stock's 50 day simple moving average is $2.99 and its 200-day simple moving average is $2.83. Navitas Semiconductor has a one year low of $1.75 and a one year high of $5.14. The company has a market cap of $495.01 million, a P/E ratio of -6.31 and a beta of 2.23.

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.