Navitas Semiconductor (NASDAQ:NVTS) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Navitas Semiconductor (NASDAQ:NVTS) in a research report released on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a $5.00 target price on the stock.

NVTS has been the topic of several other research reports. Craig Hallum reduced their price objective 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. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Robert W. Baird reduced their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $4.39.

Navitas Semiconductor Trading Down 1.2 %

Navitas Semiconductor stock opened at $3.40 on Thursday. Navitas Semiconductor has a 1 year low of $1.75 and a 1 year high of $7.40. The firm’s 50 day moving average price is $3.34 and its 200-day moving average price is $2.89.

Insider Activity at Navitas Semiconductor

In related news, Director Richard J. Hendrix sold 80,000 shares of Navitas Semiconductor stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $4.04, for a total value 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. The trade was a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 31.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

A number of large investors have recently added to or reduced their stakes in NVTS. SG Americas Securities LLC bought a new position in Navitas Semiconductor in the third quarter worth about $133,000. Creative Planning bought a new position in Navitas Semiconductor in the third quarter worth about $122,000. Bleakley Financial Group LLC bought a new position in Navitas Semiconductor in the third quarter worth about $41,000. GSA Capital Partners LLP bought a new position in Navitas Semiconductor in the third quarter worth about $44,000. Finally, Intech Investment Management LLC acquired a new position in shares of Navitas Semiconductor during the third quarter valued at about $79,000. 46.14% of the stock is currently owned by institutional investors.

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.