Robert W. Baird Issues Pessimistic Forecast for Navitas Semiconductor (NASDAQ:NVTS) Stock Price

Navitas Semiconductor (NASDAQ:NVTS) had its price target reduced by equities research analysts at Robert W. Baird from $5.00 to $4.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 60.64% from the company’s current price.

Several other research analysts have also weighed in on NVTS. Needham & Company LLC restated a “buy” rating and set a $4.00 price objective on shares of Navitas Semiconductor in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Craig Hallum lowered their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $5.00 target price on shares of Navitas Semiconductor in a report on Thursday, February 20th. Two equities 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 stock has a consensus rating of “Moderate Buy” and an average price target of $4.11.

Navitas Semiconductor Price Performance

Navitas Semiconductor stock opened at $2.49 on Wednesday. The firm has a market capitalization of $465.12 million, a PE ratio of -5.93 and a beta of 2.20. The company’s 50-day moving average is $3.18 and its 200-day moving average is $2.86. Navitas Semiconductor has a fifty-two week low of $1.75 and a fifty-two week high of $5.50.

Insider Buying and Selling

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 shares were sold at an average price of $4.54, for a total value of $181,600.00. Following the completion of the sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Todd Glickman sold 13,644 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 684,497 shares of the company’s stock, valued at $1,772,847.23. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,288 shares of company stock valued at $252,276. Company insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new stake in shares of Navitas Semiconductor during the 4th quarter worth approximately $94,000. ProShare Advisors LLC lifted its holdings in shares of Navitas Semiconductor by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 35,532 shares of the company’s stock worth $127,000 after acquiring an additional 11,692 shares during the period. Millennium Management LLC bought a new stake in shares of Navitas Semiconductor during the 4th quarter worth approximately $52,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Navitas Semiconductor during the 4th quarter worth approximately $90,000. Finally, Deutsche Bank AG lifted its holdings in shares of Navitas Semiconductor by 72.8% during the 4th quarter. Deutsche Bank AG now owns 121,203 shares of the company’s stock worth $433,000 after acquiring an additional 51,045 shares during the period. Institutional investors own 46.14% of the company’s stock.

Navitas Semiconductor Company Profile

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.