Navitas Semiconductor Co. (NASDAQ:NVTS) CFO Sells $35,337.96 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) 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 transaction of $35,337.96. Following the completion of the transaction, the chief financial officer now owns 684,497 shares of the company's stock, valued at $1,772,847.23. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Todd Glickman also recently made the following trade(s):

• On Wednesday, February 26th, Todd Glickman sold 13,644 shares of Navitas Semiconductor stock. The stock was sold at an average price of $2.59, for a total value of $35,337.96.

Navitas Semiconductor Price Performance

NVTS traded down $0.15 during trading on Monday, hitting $2.29. The stock had a trading volume of 4,112,312 shares, compared to its average volume of 4,320,374. The firm has a market cap of $427.76 million, a price-to-earnings ratio of -5.45 and a beta of 2.20. The company has a 50 day moving average price of $3.27 and a 200-day moving average price of $2.87. Navitas Semiconductor Co. has a one year low of $1.75 and a one year high of $6.03.

Institutional Investors Weigh In On Navitas Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. grew its holdings in shares of Navitas Semiconductor by 52.7% during the 4th quarter. American Century Companies Inc. now owns 15,704 shares of the company's stock worth $56,000 after purchasing an additional 5,419 shares in the last quarter. Tower Research Capital LLC TRC grew its stake 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 buying an additional 5,726 shares in the last quarter. Goodman Financial Corp bought a new position in Navitas Semiconductor in the 4th quarter valued at about $36,000. Caption Management LLC bought a new position in Navitas Semiconductor in the fourth quarter valued at approximately $36,000. Finally, Steel Grove Capital Advisors LLC bought a new position in Navitas Semiconductor in the fourth quarter valued at approximately $39,000. 46.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NVTS. Deutsche Bank Aktiengesellschaft reduced their price target 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. Craig Hallum dropped their target price on Navitas Semiconductor from $6.50 to $4.25 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Needham & Company LLC reissued a "buy" rating and issued a $4.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, February 25th. Rosenblatt Securities restated a "buy" rating and set a $5.00 target price on shares of Navitas Semiconductor in a report on Thursday, February 20th. Finally, Robert W. Baird lowered their price objective on shares of Navitas Semiconductor from $7.00 to $5.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $4.25.

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.