Insider Selling: Navitas Semiconductor Co. (NASDAQ:NVTS) COO Sells 105,245 Shares of Stock

Navitas Semiconductor Co. (NASDAQ:NVTSGet Rating) COO Daniel M. Kinzer sold 105,245 shares of Navitas Semiconductor stock in a transaction on Monday, November 21st. The shares were sold at an average price of $4.09, for a total transaction of $430,452.05. Following the completion of the transaction, the chief operating officer now directly owns 885,617 shares in the company, valued at $3,622,173.53. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Navitas Semiconductor Stock Up 3.1 %

Navitas Semiconductor stock opened at $4.65 on Friday. Navitas Semiconductor Co. has a 52 week low of $3.51 and a 52 week high of $20.10. The firm’s 50-day simple moving average is $4.65 and its 200 day simple moving average is $5.27. The firm has a market capitalization of $584.51 million, a PE ratio of -7.75 and a beta of 2.18.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Navitas Semiconductor by 220.0% in the 1st quarter. Royal Bank of Canada now owns 9,070 shares of the company’s stock valued at $93,000 after purchasing an additional 6,236 shares during the last quarter. Privium Fund Management B.V. acquired a new position in Navitas Semiconductor in the 1st quarter valued at about $103,000. Beacon Pointe Advisors LLC acquired a new position in Navitas Semiconductor in the 2nd quarter valued at about $39,000. Verition Fund Management LLC acquired a new position in Navitas Semiconductor in the 2nd quarter valued at about $40,000. Finally, Legal & General Group Plc acquired a new position in Navitas Semiconductor in the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 22.70% of the company’s stock.

Analyst Ratings Changes

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

About Navitas Semiconductor

(Get Rating)

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.

Read More

Receive News & Ratings for Navitas Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navitas Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.