Brokerages Set Navitas Semiconductor Co. (NASDAQ:NVTS) Price Target at $9.98

Navitas Semiconductor Co. (NASDAQ:NVTSGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $9.98.

Several research firms have recently weighed in on NVTS. Morgan Stanley reduced their price target on Navitas Semiconductor from $8.00 to $6.90 and set an “equal weight” rating on the stock in a report on Friday, November 10th. Northland Securities assumed coverage on Navitas Semiconductor in a report on Tuesday, January 16th. They set a “market perform” rating on the stock. Finally, Needham & Company LLC reduced their target price on Navitas Semiconductor from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, November 10th.

Get Our Latest Report on NVTS

Insider Transactions at Navitas Semiconductor

In other news, CFO Ron Shelton sold 10,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $8.11, for a total transaction of $81,100.00. Following the completion of the transaction, the chief financial officer now owns 306,668 shares in the company, valued at approximately $2,487,077.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Navitas Semiconductor news, Director Dipender Saluja sold 43,530 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $8.21, for a total value of $357,381.30. Following the completion of the transaction, the director now owns 6,249,128 shares in the company, valued at approximately $51,305,340.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ron Shelton sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $8.11, for a total value of $81,100.00. Following the completion of the transaction, the chief financial officer now owns 306,668 shares of the company’s stock, valued at approximately $2,487,077.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,060 shares of company stock worth $991,592. 36.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Alpha DNA Investment Management LLC purchased a new stake in shares of Navitas Semiconductor in the 4th quarter valued at about $469,000. Laidlaw Wealth Management LLC raised its holdings in shares of Navitas Semiconductor by 16.7% in the 4th quarter. Laidlaw Wealth Management LLC now owns 18,316 shares of the company’s stock valued at $148,000 after acquiring an additional 2,618 shares in the last quarter. 1492 Capital Management LLC purchased a new stake in shares of Navitas Semiconductor in the 4th quarter valued at about $2,493,000. Hsbc Holdings PLC purchased a new stake in shares of Navitas Semiconductor in the 4th quarter valued at about $211,000. Finally, Trexquant Investment LP purchased a new stake in shares of Navitas Semiconductor in the 4th quarter valued at about $1,729,000. Institutional investors own 37.45% of the company’s stock.

Navitas Semiconductor Stock Performance

NVTS opened at $6.81 on Tuesday. The company has a market capitalization of $1.22 billion, a P/E ratio of -9.20 and a beta of 2.63. The stock has a fifty day moving average of $7.05 and a 200-day moving average of $7.23. Navitas Semiconductor has a fifty-two week low of $4.76 and a fifty-two week high of $11.16.

About Navitas Semiconductor

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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.

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Analyst Recommendations for Navitas Semiconductor (NASDAQ:NVTS)

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