Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) had its price objective decreased by stock analysts at Robert W. Baird from $5.00 to $4.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price target points to a potential upside of 57.48% from the company's previous close.
A number of other analysts also recently commented on NVTS. Needham & Company LLC reiterated a "buy" rating and set a $4.00 target price on shares of Navitas Semiconductor in a research report on Tuesday, February 25th. Craig Hallum dropped their price target on Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their target price on Navitas Semiconductor from $6.00 to $4.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Finally, Rosenblatt Securities restated a "buy" rating and set a $5.00 price objective on shares of Navitas Semiconductor in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $4.11.
Read Our Latest Stock Report on Navitas Semiconductor
Navitas Semiconductor Stock Up 2.0 %
NVTS traded up $0.05 during trading on Wednesday, hitting $2.54. 4,028,720 shares of the stock were exchanged, compared to its average volume of 3,610,166. The stock has a fifty day moving average price of $3.12 and a two-hundred day moving average price of $2.85. Navitas Semiconductor has a 1-year low of $1.75 and a 1-year high of $5.38. The firm has a market capitalization of $474.46 million, a P/E ratio of -6.05 and a beta of 2.23.
Insiders Place Their Bets
In related news, Director Richard J. Hendrix sold 40,000 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $4.54, for a total transaction of $181,600.00. Following the transaction, the director now directly owns 316,709 shares in the company, valued at $1,437,858.86. The trade was a 11.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Todd Glickman sold 13,644 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total value of $35,337.96. Following the completion of the sale, the chief financial officer now owns 684,497 shares in the company, valued at approximately $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. Insiders sold 67,288 shares of company stock valued at $252,276 over the last quarter. Insiders own 31.80% of the company's stock.
Institutional Trading of Navitas Semiconductor
A number of large investors have recently made changes to their positions in the company. Benjamin Edwards Inc. acquired a new stake in Navitas Semiconductor in the 3rd quarter valued at about $36,000. Goodman Financial Corp acquired a new stake in Navitas Semiconductor during the fourth quarter worth approximately $36,000. Caption Management LLC acquired a new stake in Navitas Semiconductor during the fourth quarter worth approximately $36,000. Tower Research Capital LLC TRC lifted its position in Navitas Semiconductor by 125.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company's stock worth $37,000 after acquiring an additional 5,726 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC acquired a new stake in Navitas Semiconductor during the fourth quarter worth approximately $39,000. Institutional investors own 46.14% of the company's stock.
Navitas Semiconductor Company Profile
(
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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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