Daniel M. Kinzer Sells 103,538 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) Stock

Navitas Semiconductor Co. (NASDAQ:NVTSGet Rating) COO Daniel M. Kinzer sold 103,538 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $4.38, for a total value of $453,496.44. Following the completion of the transaction, the chief operating officer now directly owns 990,862 shares in the company, valued at approximately $4,339,975.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Navitas Semiconductor Price Performance

NASDAQ NVTS opened at $4.65 on Thursday. The firm has a market cap of $584.51 million, a P/E ratio of -7.75 and a beta of 2.18. The stock’s 50-day moving average is $4.67 and its 200-day moving average is $5.27. Navitas Semiconductor Co. has a one year low of $3.51 and a one year high of $20.10.

Institutional Investors Weigh In On Navitas Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Navitas Semiconductor by 220.0% in the 1st quarter. Royal Bank of Canada now owns 9,070 shares of the company’s stock valued at $93,000 after buying an additional 6,236 shares during the last quarter. Privium Fund Management B.V. acquired a new stake in Navitas Semiconductor in the 1st quarter valued at approximately $103,000. Beacon Pointe Advisors LLC acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at approximately $39,000. Verition Fund Management LLC acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at approximately $40,000. Finally, Legal & General Group Plc acquired a new stake in Navitas Semiconductor in the 2nd quarter valued at approximately $41,000. Institutional investors and hedge funds own 22.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NVTS. Rosenblatt Securities cut their target price on Navitas Semiconductor from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, November 10th. Deutsche Bank Aktiengesellschaft cut their target price on Navitas Semiconductor from $7.00 to $6.00 in a research note on Thursday, November 10th. Craig Hallum cut their target price on Navitas Semiconductor to $6.00 in a research note on Tuesday, November 15th. Robert W. Baird cut their target price on Navitas Semiconductor from $12.00 to $8.00 in a research note on Thursday, November 10th. Finally, Needham & Company LLC raised their price target on Navitas Semiconductor from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, August 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.17.

About Navitas Semiconductor

(Get Rating)

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride (GaN) power integrated circuits used in power conversion and charging. It operates in the United States, Ireland, Germany, Italy, Belgium, China, Taiwan, and the Philippines. The company was incorporated in 2013 and is based in El Segundo, California.

Featured Stories

Receive News & Ratings for Navitas Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navitas Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.