Navitas Semiconductor Co. (NASDAQ:NVTS) Director Brian Long Sells 47,189 Shares

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Brian Long sold 47,189 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $2.36, for a total transaction of $111,366.04. Following the completion of the sale, the director now directly owns 31,460 shares of the company’s stock, valued at $74,245.60. The trade was a 60.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Navitas Semiconductor Price Performance

Shares of NASDAQ:NVTS remained flat at $2.33 on Friday. The stock had a trading volume of 4,233,040 shares, compared to its average volume of 3,598,655. The firm has a fifty day simple moving average of $2.89 and a 200 day simple moving average of $2.82. The stock has a market cap of $435.23 million, a PE ratio of -5.55 and a beta of 2.23. Navitas Semiconductor Co. has a one year low of $1.75 and a one year high of $5.14.

Analyst Upgrades and Downgrades

A number of analysts have commented on NVTS shares. Robert W. Baird dropped their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Needham & Company LLC reiterated a “buy” rating and set a $4.00 price objective on shares of Navitas Semiconductor in a research note on Tuesday, February 25th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $5.00 target price on shares of Navitas Semiconductor in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Moderate Buy” and an average price target of $4.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC purchased a new stake in shares of Navitas Semiconductor in the 4th quarter valued at approximately $94,000. ProShare Advisors LLC lifted its holdings in shares of Navitas Semiconductor by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 35,532 shares of the company’s stock valued at $127,000 after purchasing an additional 11,692 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Navitas Semiconductor in the fourth quarter worth $52,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Navitas Semiconductor during the fourth quarter valued at $90,000. Finally, Deutsche Bank AG raised its position in Navitas Semiconductor by 72.8% during the fourth quarter. Deutsche Bank AG now owns 121,203 shares of the company’s stock valued at $433,000 after buying an additional 51,045 shares during the period. 46.14% of the stock is currently 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.