Todd Glickman Sells 13,644 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) CFO Todd Glickman sold 13,644 shares of the business’s 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. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Todd Glickman also recently made the following trade(s):

• On Wednesday, February 26th, Todd Glickman sold 13,644 shares of Navitas Semiconductor stock. The shares were sold at an average price of $2.59, for a total transaction of $35,337.96.

Navitas Semiconductor Trading Up 2.5 %

Shares of NVTS opened at $2.44 on Friday. The stock has a 50-day moving average price of $3.28 and a 200-day moving average price of $2.88. The company has a market cap of $455.78 million, a PE ratio of -5.81 and a beta of 2.20. Navitas Semiconductor Co. has a 12-month low of $1.75 and a 12-month high of $7.40.

Analyst Ratings Changes

A number of research firms have recently commented on NVTS. Robert W. Baird cut their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 target price on shares of Navitas Semiconductor in a report on Tuesday. Craig Hallum decreased their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research report 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. According to MarketBeat, Navitas Semiconductor presently has an average rating of “Moderate Buy” and a consensus target price of $4.25.

Institutional Investors Weigh In On Navitas Semiconductor

Several hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised its position in shares of Navitas Semiconductor by 52.7% during the 4th quarter. American Century Companies Inc. now owns 15,704 shares of the company’s stock valued at $56,000 after buying an additional 5,419 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Navitas Semiconductor by 125.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock valued at $37,000 after acquiring an additional 5,726 shares during the last quarter. Goodman Financial Corp purchased a new stake in Navitas Semiconductor during the fourth quarter valued at about $36,000. Caption Management LLC bought a new stake in Navitas Semiconductor during the fourth quarter worth about $36,000. Finally, Steel Grove Capital Advisors LLC purchased a new position in shares of Navitas Semiconductor in the 4th quarter worth about $39,000. 46.14% of the stock is currently owned by institutional investors.

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.