Insider Selling: Navitas Semiconductor Co. (NASDAQ:NVTS) COO Sells $453,496.44 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTSGet Rating) COO Daniel M. Kinzer sold 103,538 shares of the business’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $4.38, for a total transaction of $453,496.44. Following the completion of the transaction, the chief operating officer now directly owns 990,862 shares of the company’s stock, valued at approximately $4,339,975.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Navitas Semiconductor Trading Up 3.1 %

Shares of NASDAQ NVTS opened at $4.65 on Friday. The firm has a market cap of $584.51 million, a PE ratio of -7.75 and a beta of 2.18. Navitas Semiconductor Co. has a 1-year low of $3.51 and a 1-year high of $20.10. The company has a fifty day moving average price of $4.65 and a 200 day moving average price of $5.27.

Hedge Funds Weigh In On Navitas Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVTS. Edge Capital Group LLC bought a new stake in Navitas Semiconductor during the 1st quarter worth about $1,515,000. Crossmark Global Holdings Inc. bought a new stake in Navitas Semiconductor during the 1st quarter worth about $362,000. Capricorn Investment Group LLC bought a new stake in Navitas Semiconductor during the 2nd quarter worth about $84,039,000. Teramo Advisors LLC lifted its position in Navitas Semiconductor by 35.0% during the 2nd quarter. Teramo Advisors LLC now owns 13,500 shares of the company’s stock worth $52,000 after buying an additional 3,500 shares in the last quarter. Finally, Versor Investments LP bought a new stake in Navitas Semiconductor during the 2nd quarter worth about $64,000. 22.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Craig Hallum decreased their price target on shares of Navitas Semiconductor to $6.00 in a report on Tuesday, November 15th. Rosenblatt Securities decreased their price target on shares of Navitas Semiconductor from $12.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, November 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Navitas Semiconductor from $7.00 to $6.00 in a report on Thursday, November 10th. Robert W. Baird decreased their price target on shares of Navitas Semiconductor from $12.00 to $8.00 in a report on Thursday, November 10th. Finally, Needham & Company LLC upped their target price on shares of Navitas Semiconductor from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, August 16th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Navitas Semiconductor currently has a consensus rating of “Moderate Buy” and an average target price of $7.17.

Navitas Semiconductor Company Profile

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Navitas Semiconductor Corporation designs, develops, and markets gallium nitride (GaN) power integrated circuits used in power conversion and charging. It operates in the United States, Ireland, Germany, Italy, Belgium, China, Taiwan, and the Philippines. The company was incorporated in 2013 and is based in El Segundo, California.

Further Reading

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