Navitas Semiconductor (NASDAQ:NVTS) Given Buy Rating at Rosenblatt Securities

Navitas Semiconductor (NASDAQ:NVTS)‘s stock had its “buy” rating reiterated by stock analysts at Rosenblatt Securities in a note issued to investors on Thursday,Benzinga reports. They presently have a $5.00 target price on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 45.35% from the company’s current price.

A number of other research analysts also recently issued reports on NVTS. Craig Hallum dropped their price target on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.39.

Navitas Semiconductor Price Performance

Shares of NVTS opened at $3.44 on Thursday. The business has a 50-day moving average of $3.34 and a 200-day moving average of $2.89. Navitas Semiconductor has a 1 year low of $1.75 and a 1 year high of $7.40. The company has a market capitalization of $642.59 million, a price-to-earnings ratio of -8.19 and a beta of 2.20.

Insider Transactions at Navitas Semiconductor

In related news, Director Richard J. Hendrix sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $4.54, for a total transaction of $181,600.00. Following the transaction, the director now directly owns 316,709 shares of the company’s stock, valued at approximately $1,437,858.86. This represents a 11.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 31.80% of the company’s stock.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Navitas Semiconductor during the 3rd quarter valued at $133,000. Creative Planning bought a new stake in shares of Navitas Semiconductor during the third quarter worth about $122,000. Bleakley Financial Group LLC bought a new stake in shares of Navitas Semiconductor during the third quarter worth about $41,000. GSA Capital Partners LLP acquired a new stake in shares of Navitas Semiconductor in the 3rd quarter worth about $44,000. Finally, Intech Investment Management LLC acquired a new position in Navitas Semiconductor during the 3rd quarter valued at about $79,000. 46.14% of the stock is owned by institutional investors and hedge funds.

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.