Navitas Semiconductor (NASDAQ:NVTS) Stock Price Up 17.1% - Should You Buy?

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) rose 17.1% during mid-day trading on Tuesday . The company traded as high as $3.60 and last traded at $3.51. Approximately 2,327,277 shares changed hands during trading, a decline of 41% from the average daily volume of 3,929,475 shares. The stock had previously closed at $3.00.

Analyst Ratings Changes

NVTS has been the subject of a number of analyst reports. Robert W. Baird reduced their price target on Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday, November 5th. Rosenblatt Securities restated a "buy" rating and issued a $5.00 price objective on shares of Navitas Semiconductor in a report on Thursday. Craig Hallum cut their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating for the company in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating for the company in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Navitas Semiconductor has a consensus rating of "Moderate Buy" and an average price target of $4.39.

Navitas Semiconductor Stock Down 6.8 %

The stock has a market capitalization of $592.14 million, a price-to-earnings ratio of -7.55 and a beta of 2.20. The firm has a 50-day moving average of $3.33 and a two-hundred day moving average of $2.89.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $4.54, for a total value of $181,600.00. Following the transaction, the director now directly owns 316,709 shares of the company's stock, valued at $1,437,858.86. This represents a 11.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 31.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NVTS. Benjamin Edwards Inc. acquired a new position in Navitas Semiconductor in the 3rd quarter worth about $36,000. Goodman Financial Corp acquired a new position in Navitas Semiconductor in the 4th quarter worth about $36,000. Caption Management LLC acquired a new position in Navitas Semiconductor in the 4th quarter worth about $36,000. Tower Research Capital LLC TRC increased its position in Navitas Semiconductor by 125.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company's stock worth $37,000 after purchasing an additional 5,726 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC bought a new stake in shares of Navitas Semiconductor during the 4th quarter worth about $39,000. 46.14% of the stock is owned by institutional investors and hedge funds.

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.