Insider Selling: Navitas Semiconductor Co. (NASDAQ:NVTS) Director Sells 47,189 Shares of Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Brian Long sold 47,189 shares of Navitas Semiconductor stock in a transaction on Friday, March 21st. The stock was sold at an average price of $2.36, for a total value of $111,366.04. Following the completion of the sale, the director now directly owns 31,460 shares of the company’s stock, valued at $74,245.60. The trade was a 60.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Navitas Semiconductor Stock Performance

Shares of NVTS opened at $2.33 on Friday. Navitas Semiconductor Co. has a 12 month low of $1.75 and a 12 month high of $5.14. The stock has a fifty day moving average price of $2.87 and a 200-day moving average price of $2.81. The firm has a market cap of $435.23 million, a PE ratio of -5.55 and a beta of 2.23.

Analyst Ratings Changes

Several research firms recently weighed in on NVTS. Robert W. Baird lowered their target price on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Needham & Company LLC reiterated a “buy” rating and set a $4.00 target price on shares of Navitas Semiconductor in a research report on Tuesday, February 25th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $5.00 price objective on shares of Navitas Semiconductor in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Navitas Semiconductor currently has an average rating of “Moderate Buy” and a consensus price target of $4.11.

Institutional Trading of Navitas Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Benjamin Edwards Inc. acquired a new position in shares of Navitas Semiconductor in the 3rd quarter valued at $36,000. Goodman Financial Corp acquired a new stake in Navitas Semiconductor during the 4th quarter worth about $36,000. Caption Management LLC acquired a new stake in Navitas Semiconductor during the 4th quarter worth about $36,000. Tower Research Capital LLC TRC grew its position in Navitas Semiconductor by 125.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock worth $37,000 after purchasing an additional 5,726 shares during the period. Finally, Steel Grove Capital Advisors LLC acquired a new stake in Navitas Semiconductor during the 4th quarter worth about $39,000. Hedge funds and other 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.