Rosenblatt Securities Reiterates “Buy” Rating for Navitas Semiconductor (NASDAQ:NVTS)

Navitas Semiconductor (NASDAQ:NVTS)‘s stock had its “buy” rating restated by investment analysts at Rosenblatt Securities in a report released on Thursday,Benzinga reports. They presently have a $5.00 price target on the stock. Rosenblatt Securities’ price objective points to a potential upside of 45.35% from the company’s previous close.

Several other research firms have also recently commented on NVTS. Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Craig Hallum dropped their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $4.39.

Navitas Semiconductor Price Performance

Shares of NVTS stock opened at $3.44 on Thursday. The firm has a 50-day moving average of $3.34 and a 200-day moving average of $2.89. Navitas Semiconductor has a one year low of $1.75 and a one year high of $7.40. The company has a market cap of $642.59 million, a P/E ratio of -8.19 and a beta of 2.20.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 80,000 shares of Navitas Semiconductor stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $4.04, for a total value of $323,200.00. Following the completion of the transaction, the director now owns 356,709 shares in the company, valued at $1,441,104.36. This trade represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

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

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.