Navitas Semiconductor’s (NVTS) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Navitas Semiconductor (NASDAQ:NVTS) in a report released on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $4.00 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Robert W. Baird decreased their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Craig Hallum dropped their target price on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $5.00 target price on shares of Navitas Semiconductor in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.25.

Navitas Semiconductor Trading Down 8.5 %

Shares of NVTS stock opened at $2.38 on Tuesday. Navitas Semiconductor has a twelve month low of $1.75 and a twelve month high of $7.40. The company has a market capitalization of $444.57 million, a price-to-earnings ratio of -5.67 and a beta of 2.20. The firm has a 50-day moving average price of $3.29 and a 200 day moving average price of $2.88.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 40,000 shares of Navitas Semiconductor stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $4.54, for a total value of $181,600.00. Following the transaction, the director now directly owns 316,709 shares of the company’s stock, valued at $1,437,858.86. The trade was a 11.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 31.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. raised its stake in shares of Navitas Semiconductor by 87.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock valued at $19,677,000 after acquiring an additional 3,748,124 shares during the period. ArrowMark Colorado Holdings LLC increased its holdings in Navitas Semiconductor by 31.2% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock valued at $8,713,000 after purchasing an additional 845,664 shares in the last quarter. Bank of America Corp DE raised its position in Navitas Semiconductor by 180.5% in the fourth quarter. Bank of America Corp DE now owns 1,234,375 shares of the company’s stock valued at $4,407,000 after purchasing an additional 794,371 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Navitas Semiconductor during the third quarter worth about $943,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Navitas Semiconductor in the fourth quarter worth about $1,170,000. 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.