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

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $4.39.

Several analysts have issued reports on NVTS shares. Deutsche Bank Aktiengesellschaft cut their target price on Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Robert W. Baird lowered their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating for the company in a research note on Tuesday, November 5th. Rosenblatt Securities reissued a "buy" rating and issued a $5.00 target price on shares of Navitas Semiconductor in a research note on Thursday. Finally, Craig Hallum reduced their price target on Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating on the stock in a research report on Tuesday, November 5th.

Insiders Place Their Bets

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of Navitas Semiconductor stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $4.54, for a total transaction of $181,600.00. Following the sale, the director now directly owns 316,709 shares of the company's stock, valued at approximately $1,437,858.86. The trade was a 11.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 31.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Navitas Semiconductor in the third quarter worth $133,000. Creative Planning bought a new position in shares of Navitas Semiconductor in the 3rd quarter worth about $122,000. Bleakley Financial Group LLC purchased a new position in Navitas Semiconductor during the 3rd quarter valued at about $41,000. GSA Capital Partners LLP bought a new stake in Navitas Semiconductor during the third quarter worth about $44,000. Finally, Intech Investment Management LLC purchased a new stake in Navitas Semiconductor in the third quarter worth about $79,000. Hedge funds and other institutional investors own 46.14% of the company's stock.

Navitas Semiconductor Stock Down 8.7 %

NASDAQ:NVTS traded down $0.28 during midday trading on Thursday, hitting $2.90. The company had a trading volume of 4,859,939 shares, compared to its average volume of 4,099,271. The stock's fifty day moving average price is $3.33 and its 200-day moving average price is $2.89. Navitas Semiconductor has a 52-week low of $1.75 and a 52-week high of $7.40. The company has a market capitalization of $540.77 million, a PE ratio of -6.89 and a beta of 2.20.

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.