Navitas Semiconductor (NASDAQ:NVTS) Stock Rating Lowered by Morgan Stanley

Navitas Semiconductor (NASDAQ:NVTS) was downgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued on Monday, MarketBeat Ratings reports. They currently have a $1.50 price objective on the stock, down from their prior price objective of $2.10. Morgan Stanley’s price objective suggests a potential downside of 7.98% from the company’s previous close.

Other equities analysts also recently issued reports about the company. 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. Rosenblatt Securities reiterated a “buy” rating and set a $5.00 price objective on shares of Navitas Semiconductor in a research note on Thursday, March 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $4.00 target price on shares of Navitas Semiconductor in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Navitas Semiconductor has a consensus rating of “Moderate Buy” and a consensus target price of $3.82.

Navitas Semiconductor Price Performance

Shares of Navitas Semiconductor stock opened at $1.63 on Monday. Navitas Semiconductor has a 1-year low of $1.52 and a 1-year high of $5.14. The company’s fifty day simple moving average is $2.52 and its 200-day simple moving average is $2.77. The stock has a market capitalization of $310.56 million, a PE ratio of -3.88 and a beta of 2.24.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, Director Brian Long sold 47,189 shares of Navitas Semiconductor stock in a transaction on Friday, March 21st. The shares were sold at an average price of $2.36, for a total value of $111,366.04. Following the sale, the director now directly owns 31,460 shares in the company, valued at approximately $74,245.60. The trade was a 60.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Todd Glickman sold 13,644 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total transaction of $35,337.96. Following the transaction, the chief financial officer now directly owns 684,497 shares of the company’s stock, valued at $1,772,847.23. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,477 shares of company stock valued at $182,042. 31.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Navitas Semiconductor

A number of hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in Navitas Semiconductor by 4.0% in the 3rd quarter. State Street Corp now owns 5,826,638 shares of the company’s stock worth $14,275,000 after acquiring an additional 221,575 shares during the last quarter. Walleye Capital LLC purchased a new stake in Navitas Semiconductor during the third quarter valued at $283,000. Wesbanco Bank Inc. bought a new position in Navitas Semiconductor during the fourth quarter valued at $357,000. Bank of New York Mellon Corp grew its stake in shares of Navitas Semiconductor by 27.6% in the 4th quarter. Bank of New York Mellon Corp now owns 498,713 shares of the company’s stock worth $1,780,000 after buying an additional 107,828 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Navitas Semiconductor by 4,798.3% in the 3rd quarter. FMR LLC now owns 114,326 shares of the company’s stock worth $280,000 after buying an additional 111,992 shares during the last quarter. 46.14% of the stock is currently owned by hedge funds and other 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.