Brokerages Set Navitas Semiconductor Co. (NASDAQ:NVTS) Target Price at $4.75

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) have received an average rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $4.39.

NVTS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Craig Hallum decreased their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 price target on shares of Navitas Semiconductor in a report on Thursday. Finally, Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th.

Navitas Semiconductor Stock Down 6.8 %

Navitas Semiconductor stock opened at $3.17 on Thursday. The stock has a market cap of $592.14 million, a P/E ratio of -7.55 and a beta of 2.20. The company’s 50 day moving average price is $3.33 and its two-hundred day moving average price is $2.89. Navitas Semiconductor has a 52 week low of $1.75 and a 52 week high of $7.40.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor 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 value of $181,600.00. Following the completion of the transaction, the director now owns 316,709 shares of the company’s stock, valued at approximately $1,437,858.86. The trade was a 11.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVTS. Point72 Asset Management L.P. lifted its holdings in Navitas Semiconductor by 87.5% in the third quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock valued at $19,677,000 after acquiring an additional 3,748,124 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in shares of Navitas Semiconductor by 31.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock worth $8,713,000 after acquiring an additional 845,664 shares during the last quarter. Bank of America Corp DE raised its holdings in Navitas Semiconductor by 180.5% in the 4th quarter. Bank of America Corp DE now owns 1,234,375 shares of the company’s stock worth $4,407,000 after purchasing an additional 794,371 shares during the period. Mirabella Financial Services LLP purchased a new position in shares of Navitas Semiconductor during the 3rd quarter valued at about $943,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Navitas Semiconductor in the fourth quarter worth approximately $1,170,000. Hedge funds and other 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.