Navitas Semiconductor (NASDAQ:NVTS) Price Target Cut to $4.00 by Analysts at Robert W. Baird

Navitas Semiconductor (NASDAQ:NVTS) had its price objective decreased by Robert W. Baird from $5.00 to $4.00 in a report published on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other analysts have also commented on NVTS. Craig Hallum lowered their target price on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 target price on shares of Navitas Semiconductor in a report on Tuesday, February 25th. 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 report on Tuesday, November 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $5.00 target price on shares of Navitas Semiconductor in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.11.

Navitas Semiconductor Stock Performance

NVTS opened at $2.64 on Wednesday. The company has a fifty day moving average price of $3.21 and a two-hundred day moving average price of $2.86. Navitas Semiconductor has a 52 week low of $1.75 and a 52 week high of $5.66. The firm has a market capitalization of $493.14 million, a PE ratio of -6.29 and a beta of 2.20.

Insider Activity

In related news, CFO Todd Glickman sold 13,644 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total value of $35,337.96. Following the sale, the chief financial officer now directly owns 684,497 shares of the company’s stock, valued at approximately $1,772,847.23. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard J. Hendrix sold 80,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $4.04, for a total transaction of $323,200.00. Following the completion of the sale, the director now directly owns 356,709 shares in the company, valued at $1,441,104.36. This represents a 18.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,288 shares of company stock valued at $575,476 in the last quarter. Company insiders own 31.80% of the company’s stock.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Navitas Semiconductor by 4.0% in the 3rd quarter. State Street Corp now owns 5,826,638 shares of the company’s stock valued at $14,275,000 after acquiring an additional 221,575 shares in the last quarter. Mirabella Financial Services LLP bought a new stake in Navitas Semiconductor in the 3rd quarter valued at $943,000. Walleye Capital LLC bought a new stake in Navitas Semiconductor in the 3rd quarter valued at $283,000. Wesbanco Bank Inc. bought a new stake in Navitas Semiconductor in the 4th quarter valued at $357,000. Finally, Point72 Asset Management L.P. lifted its position in Navitas Semiconductor by 87.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock valued at $19,677,000 after acquiring an additional 3,748,124 shares in the last quarter. 46.14% of the stock is owned by institutional investors.

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.