Navitas Semiconductor Co. (NASDAQ:NVTS) COO Sells $487,593.60 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) COO Daniel M. Kinzer sold 58,605 shares of Navitas Semiconductor stock in a transaction on Monday, August 28th. The shares were sold at an average price of $8.32, for a total value of $487,593.60. Following the completion of the transaction, the chief operating officer now owns 4,614,242 shares of the company’s stock, valued at approximately $38,390,493.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Navitas Semiconductor Stock Down 0.8 %

Shares of Navitas Semiconductor stock opened at $8.76 on Friday. Navitas Semiconductor Co. has a 12 month low of $3.11 and a 12 month high of $11.16. The business has a fifty day simple moving average of $9.46 and a 200 day simple moving average of $7.94. The stock has a market cap of $1.52 billion, a PE ratio of -8.59 and a beta of 2.37.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Navitas Semiconductor during the second quarter worth $30,000. Harvest Fund Management Co. Ltd grew its stake in Navitas Semiconductor by 100.0% in the second quarter. Harvest Fund Management Co. Ltd now owns 5,000 shares of the company’s stock valued at $53,000 after acquiring an additional 2,500 shares during the period. Metropolitan Life Insurance Co NY acquired a new position in Navitas Semiconductor in the second quarter valued at about $60,000. Ameritas Investment Partners Inc. acquired a new position in Navitas Semiconductor in the second quarter valued at about $89,000. Finally, Royal Bank of Canada grew its stake in Navitas Semiconductor by 220.0% in the first quarter. Royal Bank of Canada now owns 9,070 shares of the company’s stock valued at $93,000 after acquiring an additional 6,236 shares during the period. 37.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVTS has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on Navitas Semiconductor in a research report on Monday, August 28th. They set an “equal weight” rating and a $9.20 target price for the company. Robert W. Baird boosted their target price on Navitas Semiconductor from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 16th. Needham & Company LLC boosted their target price on Navitas Semiconductor from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Rosenblatt Securities restated a “buy” rating and set a $12.00 target price on shares of Navitas Semiconductor in a research report on Thursday, August 24th. Finally, Bank of America dropped their target price on Navitas Semiconductor from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, August 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Navitas Semiconductor presently has an average rating of “Moderate Buy” and an average price target of $9.89.

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.