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

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Rosenblatt Securities in a report released on Thursday,Benzinga reports. They currently have a $5.00 price objective on the stock. Rosenblatt Securities' target price suggests a potential upside of 104.92% from the company's previous close.

NVTS has been the subject of several other research reports. Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $5.00 to $4.00 and set an "outperform" rating on the stock in a 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 report on Tuesday, February 25th. 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 currently has an average rating of "Moderate Buy" and a consensus target price of $4.11.

Navitas Semiconductor Trading Down 3.9 %

NASDAQ:NVTS opened at $2.44 on Thursday. Navitas Semiconductor has a 12 month low of $1.75 and a 12 month high of $5.38. The company has a 50-day moving average price of $3.04 and a 200-day moving average price of $2.84. The stock has a market cap of $455.78 million, a price-to-earnings ratio of -5.81 and a beta of 2.23.

Insider Buying and Selling at Navitas Semiconductor

In other news, CFO Todd Glickman sold 13,644 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $2.59, for a total value of $35,337.96. Following the completion of the transaction, the chief financial officer now owns 684,497 shares in the company, valued at $1,772,847.23. The trade was a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 31.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors have recently modified their holdings of the business. Goodman Financial Corp bought a new position in Navitas Semiconductor during the 4th quarter valued at about $36,000. Caption Management LLC bought a new position in Navitas Semiconductor during the fourth quarter valued at approximately $36,000. Tower Research Capital LLC TRC boosted its holdings in Navitas Semiconductor by 125.4% in the fourth 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. Steel Grove Capital Advisors LLC bought a new stake in Navitas Semiconductor in the 4th quarter worth approximately $39,000. Finally, Cibc World Markets Corp purchased a new stake in Navitas Semiconductor during the 4th quarter valued at $42,000. 46.14% of the stock is owned by hedge funds and other institutional investors.

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.

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