Navitas Semiconductor (NASDAQ:NVTS) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Navitas Semiconductor (NASDAQ:NVTS) in a report issued on Tuesday morning,Benzinga reports. The firm currently has a $4.00 target price on the stock.

Other analysts have also recently issued reports about the stock. Rosenblatt Securities restated a “buy” rating and issued a $5.00 price target on shares of Navitas Semiconductor in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Robert W. Baird reduced their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, Craig Hallum lowered their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4.25.

Navitas Semiconductor Price Performance

Shares of NVTS stock opened at $2.39 on Tuesday. The company’s 50-day simple moving average is $3.31 and its two-hundred day simple moving average is $2.88. Navitas Semiconductor has a one year low of $1.75 and a one year high of $7.40. The company has a market capitalization of $446.44 million, a P/E ratio of -5.69 and a beta of 2.20.

Insider Buying and Selling at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 80,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $4.04, for a total value of $323,200.00. Following the completion of the transaction, the director now owns 356,709 shares in the company, valued at $1,441,104.36. This trade represents a 18.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NVTS. Creative Planning acquired a new position in Navitas Semiconductor during the third quarter worth approximately $122,000. GSA Capital Partners LLP acquired a new stake in shares of Navitas Semiconductor during the 3rd quarter worth $44,000. Intech Investment Management LLC purchased a new position in shares of Navitas Semiconductor in the 3rd quarter worth $79,000. Mirabella Financial Services LLP acquired a new position in Navitas Semiconductor in the third quarter valued at $943,000. Finally, FMR LLC grew its position in Navitas Semiconductor by 4,798.3% during the third quarter. FMR LLC now owns 114,326 shares of the company’s stock valued at $280,000 after acquiring an additional 111,992 shares during the period. Institutional investors and hedge funds own 46.14% of the company’s stock.

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.