Navitas Semiconductor Co. (NASDAQ:NVTS – Get Free Report) COO Daniel M. Kinzer sold 57,826 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $8.30, for a total value of $479,955.80. Following the sale, the chief operating officer now directly owns 4,498,315 shares of the company’s stock, valued at approximately $37,336,014.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Navitas Semiconductor Trading Down 0.8 %
Shares of Navitas Semiconductor stock opened at $8.76 on Friday. The business’s fifty day simple moving average is $9.46 and its 200 day simple moving average is $7.94. The firm has a market capitalization of $1.52 billion, a P/E ratio of -8.59 and a beta of 2.37. Navitas Semiconductor Co. has a 12 month low of $3.11 and a 12 month high of $11.16.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Navitas Semiconductor from $8.00 to $9.00 in a research note on Tuesday, May 16th. Rosenblatt Securities reissued a “buy” rating and issued a $12.00 price objective on shares of Navitas Semiconductor in a research note on Thursday, August 24th. Robert W. Baird raised their target price on Navitas Semiconductor from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 16th. Morgan Stanley started coverage on Navitas Semiconductor in a report on Monday, August 28th. They issued an “equal weight” rating and a $9.20 target price on the stock. Finally, Bank of America dropped their target price on Navitas Semiconductor from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, August 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.89.
Institutional Trading of Navitas Semiconductor
Hedge funds have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Navitas Semiconductor in the second quarter valued at $30,000. Mariner LLC bought a new stake in shares of Navitas Semiconductor in the fourth quarter valued at $35,000. Green Square Capital Advisors LLC bought a new stake in shares of Navitas Semiconductor in the fourth quarter valued at $38,000. SVB Wealth LLC bought a new stake in shares of Navitas Semiconductor in the fourth quarter valued at $39,000. Finally, Verition Fund Management LLC bought a new stake in shares of Navitas Semiconductor in the second quarter valued at $40,000. 37.45% of the stock is currently 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.
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