Navitas Semiconductor Co. (NASDAQ:NVTS) Receives $4.75 Consensus Target Price from Brokerages

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have received an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $4.25.

Several analysts recently commented on NVTS shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Robert W. Baird reduced their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Craig Hallum lowered their target price on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and set a $4.00 price target on shares of Navitas Semiconductor in a report on Tuesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Navitas Semiconductor in a report on Thursday, February 20th.

Navitas Semiconductor Price Performance

NVTS stock opened at $2.60 on Thursday. Navitas Semiconductor has a one year low of $1.75 and a one year high of $7.40. The stock has a market cap of $485.67 million, a price-to-earnings ratio of -6.19 and a beta of 2.20. The company has a fifty day moving average price of $3.31 and a two-hundred day moving average price of $2.88.

Insider Buying and Selling

In other Navitas Semiconductor news, Director Richard J. Hendrix sold 40,000 shares of Navitas Semiconductor stock in a transaction on Monday, December 9th. The stock was sold at an average price of $4.54, for a total value of $181,600.00. Following the completion of the transaction, the director now directly owns 316,709 shares of the company’s stock, valued at $1,437,858.86. The trade was a 11.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 31.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Navitas Semiconductor during the third quarter worth about $133,000. Creative Planning acquired a new position in shares of Navitas Semiconductor in the 3rd quarter valued at approximately $122,000. Bleakley Financial Group LLC bought a new stake in Navitas Semiconductor during the third quarter worth $41,000. GSA Capital Partners LLP acquired a new stake in Navitas Semiconductor in the third quarter valued at about $44,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Navitas Semiconductor in the 3rd quarter valued at approximately $79,000. Institutional investors own 46.14% of the company’s stock.

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.