Navitas Semiconductor Co. (NASDAQ:NVTS) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) have been given an average rating of "Moderate Buy" by the seven ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $4.11.

Several analysts have commented on the stock. Robert W. Baird decreased their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $5.00 price objective on shares of Navitas Semiconductor in a research report on Thursday, March 13th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $4.00 price objective on shares of Navitas Semiconductor in a research report on Tuesday, February 25th.

Navitas Semiconductor Stock Down 6.2 %

NASDAQ:NVTS traded down $0.17 during mid-day trading on Monday, reaching $2.49. The company's stock had a trading volume of 3,465,463 shares, compared to its average volume of 3,598,749. The firm has a market capitalization of $464.19 million, a PE ratio of -5.92 and a beta of 2.23. The stock has a fifty day moving average of $2.95 and a 200-day moving average of $2.82. Navitas Semiconductor has a 1 year low of $1.75 and a 1 year high of $5.14.

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Insider Buying and Selling

In related 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 value of $35,337.96. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 31.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of NVTS. Point72 Asset Management L.P. grew its stake in shares of 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 purchasing an additional 3,748,124 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of Navitas Semiconductor by 31.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company's stock worth $8,713,000 after purchasing an additional 845,664 shares during the period. Bank of America Corp DE grew its stake in shares of Navitas Semiconductor by 180.5% during the 4th quarter. Bank of America Corp DE now owns 1,234,375 shares of the company's stock worth $4,407,000 after purchasing an additional 794,371 shares during the period. Mirabella Financial Services LLP acquired a new stake in shares of Navitas Semiconductor during the 3rd quarter worth approximately $943,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Navitas Semiconductor during the 4th quarter worth approximately $1,170,000. Institutional investors and hedge funds own 46.14% of the company's stock.

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.