Navitas Semiconductor Corporation (NASDAQ:NVTS) Receives $6.48 Average Price Target from Analysts

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) have received a consensus rating of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $6.4833.

A number of research firms have issued reports on NVTS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a report on Thursday, January 22nd. Rosenblatt Securities reiterated a “neutral” rating and issued a $8.00 price objective on shares of Navitas Semiconductor in a research note on Monday, November 10th. Needham & Company LLC lifted their target price on Navitas Semiconductor from $8.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, Jefferies Financial Group upgraded Navitas Semiconductor to a “hold” rating in a report on Tuesday, October 28th.

Navitas Semiconductor Stock Up 0.4%

NASDAQ:NVTS traded up $0.03 on Thursday, reaching $8.79. 2,647,691 shares of the company’s stock were exchanged, compared to its average volume of 26,255,309. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -13.65 and a beta of 3.16. Navitas Semiconductor has a 52-week low of $1.52 and a 52-week high of $17.79. The business has a fifty day moving average of $8.94 and a 200-day moving average of $8.56.

Insider Activity

In related news, CFO Todd Glickman sold 78,307 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $9.77, for a total value of $765,059.39. Following the sale, the chief financial officer owned 813,279 shares of the company’s stock, valued at $7,945,735.83. This trade represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary Kent Wunderlich, Jr. sold 49,651 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $9.31, for a total transaction of $462,250.81. Following the transaction, the director owned 86,964 shares of the company’s stock, valued at $809,634.84. This trade represents a 36.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,330,585 shares of company stock valued at $28,342,998. 29.90% of the stock is owned by corporate insiders.

Institutional Trading of Navitas Semiconductor

A number of institutional investors have recently bought and sold shares of NVTS. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Navitas Semiconductor during the 2nd quarter worth about $70,000. Wealthcare Advisory Partners LLC purchased a new stake in Navitas Semiconductor during the second quarter worth approximately $71,000. Callan Family Office LLC acquired a new position in Navitas Semiconductor in the second quarter valued at approximately $419,000. Apollon Wealth Management LLC purchased a new position in Navitas Semiconductor in the second quarter valued at approximately $98,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Navitas Semiconductor by 63.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 45,533 shares of the company’s stock worth $298,000 after purchasing an additional 17,653 shares in the last quarter. 46.14% of the stock is owned by hedge funds and other institutional investors.

About Navitas Semiconductor

Navitas Semiconductor is a fabless semiconductor company specialized in gallium nitride (GaN) power integrated circuits. The company’s core mission centers on delivering high-efficiency, high-power-density power solutions that address the needs of modern electronic devices, ranging from fast chargers for consumer electronics to industrial and automotive power systems.

Navitas offers a portfolio of GaNFast power ICs designed to replace traditional silicon-based power components. These products integrate GaN transistors, drivers and protection features into single-chip solutions, enabling faster charging, reduced energy loss and smaller power supply footprints.