Analysts Set Navitas Semiconductor Co. (NASDAQ:NVTS) Target Price at $3.82

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $3.82.

Several research analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $5.00 price target on shares of Navitas Semiconductor in a report on Thursday, March 13th. Robert W. Baird dropped their target price on Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating for the company in a research report on Wednesday, March 5th. Needham & Company LLC reissued a "buy" rating and set a $4.00 price target on shares of Navitas Semiconductor in a research note on Tuesday, February 25th. Finally, Morgan Stanley cut shares of Navitas Semiconductor from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $2.10 to $1.50 in a research note on Monday, April 7th.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Brian Long sold 47,189 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $2.36, for a total transaction of $111,366.04. Following the sale, the director now owns 31,460 shares in the company, valued at approximately $74,245.60. The trade was a 60.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Todd Glickman sold 13,644 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $2.59, for a total transaction of $35,337.96. Following the completion of the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,477 shares of company stock valued at $182,042. 31.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Navitas Semiconductor by 1.7% during 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 in the last quarter. State Street Corp increased its position in Navitas Semiconductor by 4.0% during the 3rd quarter. State Street Corp now owns 5,826,638 shares of the company's stock valued at $14,275,000 after buying an additional 221,575 shares in the last quarter. Geode Capital Management LLC raised its stake in Navitas Semiconductor by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 3,081,916 shares of the company's stock valued at $11,005,000 after buying an additional 113,277 shares during the last quarter. Bank of America Corp DE boosted its holdings in Navitas Semiconductor by 180.5% in the fourth quarter. Bank of America Corp DE now owns 1,234,375 shares of the company's stock worth $4,407,000 after acquiring an additional 794,371 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Navitas Semiconductor by 9.5% in the fourth quarter. Northern Trust Corp now owns 1,209,761 shares of the company's stock worth $4,319,000 after acquiring an additional 104,906 shares during the last quarter. Institutional investors own 46.14% of the company's stock.

Navitas Semiconductor Stock Performance

Navitas Semiconductor stock traded up $0.01 during midday trading on Friday, reaching $1.75. 619,472 shares of the stock were exchanged, compared to its average volume of 3,738,800. The company's fifty day moving average is $2.38 and its 200-day moving average is $2.74. Navitas Semiconductor has a 52 week low of $1.52 and a 52 week high of $5.14. The firm has a market cap of $332.47 million, a PE ratio of -4.16 and a beta of 2.24.

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.