Navitas Semiconductor (NASDAQ:NVTS) Given New $4.00 Price Target at Robert W. Baird

Navitas Semiconductor (NASDAQ:NVTS) had its price objective reduced by Robert W. Baird from $5.00 to $4.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 60.64% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Rosenblatt Securities reiterated a “buy” rating and set a $5.00 price objective on shares of Navitas Semiconductor in a research report on Thursday, February 20th. Craig Hallum lowered their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $4.00 price objective on shares of Navitas Semiconductor in a research report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft lowered 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Navitas Semiconductor currently has an average rating of “Moderate Buy” and an average target price of $4.11.

Navitas Semiconductor Price Performance

NVTS stock opened at $2.49 on Wednesday. The company has a 50 day simple moving average of $3.18 and a 200 day simple moving average of $2.86. The stock has a market cap of $465.12 million, a price-to-earnings ratio of -5.93 and a beta of 2.20. Navitas Semiconductor has a 1 year low of $1.75 and a 1 year high of $5.50.

Insider Buying and Selling at Navitas Semiconductor

In other news, CFO Todd Glickman sold 13,644 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total value of $35,337.96. Following the sale, the chief financial officer now directly owns 684,497 shares of the company’s stock, valued at approximately $1,772,847.23. This represents a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard J. Hendrix sold 40,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the completion of the sale, the director now directly owns 316,709 shares in the company, valued at approximately $1,437,858.86. This represents a 11.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,288 shares of company stock worth $252,276. 31.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

A number of institutional investors have recently modified their holdings of NVTS. Point72 Asset Management L.P. boosted 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 purchasing an additional 3,748,124 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in shares of 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 during the last quarter. Bank of America Corp DE boosted its stake in Navitas Semiconductor by 180.5% during the fourth quarter. Bank of America Corp DE now owns 1,234,375 shares of the company’s stock worth $4,407,000 after acquiring an additional 794,371 shares in the last quarter. Mirabella Financial Services LLP bought a new position in Navitas Semiconductor during the third quarter worth $943,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Navitas Semiconductor during the fourth quarter worth $1,170,000. 46.14% of the stock is 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.