Navitas Semiconductor's (NVTS) "Buy" Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Navitas Semiconductor (NASDAQ:NVTS - Free Report) in a research note issued to investors on Thursday,Benzinga reports. Rosenblatt Securities currently has a $5.00 target price on the stock.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft cut their target price on Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Craig Hallum cut their price target on shares of Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Finally, Robert W. Baird decreased their price objective on shares of Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $4.39.

Navitas Semiconductor Trading Down 8.7 %

Shares of Navitas Semiconductor stock traded down $0.28 during trading hours on Thursday, reaching $2.90. The stock had a trading volume of 4,859,939 shares, compared to its average volume of 4,099,271. Navitas Semiconductor has a 1 year low of $1.75 and a 1 year high of $7.40. The firm has a 50 day simple moving average of $3.33 and a two-hundred day simple moving average of $2.89. The firm has a market capitalization of $540.77 million, a price-to-earnings ratio of -6.89 and a beta of 2.20.

Insiders Place Their Bets

In related news, Director Richard J. Hendrix sold 40,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the sale, the director now owns 316,709 shares in the company, valued at $1,437,858.86. This represents a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of Navitas Semiconductor in the third quarter valued at approximately $133,000. Creative Planning acquired a new stake in Navitas Semiconductor in the third quarter worth approximately $122,000. Bleakley Financial Group LLC bought a new position in Navitas Semiconductor during the 3rd quarter valued at $41,000. GSA Capital Partners LLP acquired a new position in shares of Navitas Semiconductor during the 3rd quarter valued at $44,000. Finally, Intech Investment Management LLC bought a new stake in shares of Navitas Semiconductor in the 3rd quarter worth $79,000. 46.14% of the stock is owned by institutional investors.

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.