Navitas Semiconductor Co. (NASDAQ:NVTS – Get 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.
Insider Transactions at Navitas Semiconductor
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
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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