Navitas Semiconductor (NASDAQ:NVTS) Earns Buy Rating from Rosenblatt Securities

Navitas Semiconductor (NASDAQ:NVTS)‘s stock had its “buy” rating reissued by equities research analysts at Rosenblatt Securities in a report released on Thursday,Benzinga reports. They presently have a $5.00 target price on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 100.00% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Robert W. Baird lowered their price target on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Needham & Company LLC reissued a “buy” rating and set a $4.00 target price on shares of Navitas Semiconductor in a research report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $4.11.

Navitas Semiconductor Stock Performance

NASDAQ:NVTS opened at $2.50 on Thursday. Navitas Semiconductor has a fifty-two week low of $1.75 and a fifty-two week high of $5.14. The stock has a market capitalization of $466.99 million, a P/E ratio of -5.95 and a beta of 2.23. The company’s 50-day simple moving average is $2.99 and its 200-day simple moving average is $2.83.

Insider Buying and Selling at Navitas Semiconductor

In other Navitas Semiconductor news, CFO Todd Glickman sold 13,644 shares of Navitas Semiconductor 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 sale, the chief financial officer now directly owns 684,497 shares in the company, valued at approximately $1,772,847.23. The trade was a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 31.80% of the company’s stock.

Institutional Trading of Navitas Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of NVTS. GSA Capital Partners LLP acquired a new stake in Navitas Semiconductor during the 3rd quarter valued at approximately $44,000. Intech Investment Management LLC acquired a new stake in Navitas Semiconductor during the 3rd quarter valued at approximately $79,000. Mirabella Financial Services LLP acquired a new stake in Navitas Semiconductor during the 3rd quarter valued at approximately $943,000. FMR LLC lifted its stake in Navitas Semiconductor by 4,798.3% during the 3rd quarter. FMR LLC now owns 114,326 shares of the company’s stock valued at $280,000 after acquiring an additional 111,992 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Navitas Semiconductor by 9.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 211,141 shares of the company’s stock valued at $517,000 after acquiring an additional 17,390 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.