Navitas Semiconductor Co. (NASDAQ:NVTS) CFO Sells $35,337.96 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) CFO Todd Glickman sold 13,644 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total transaction of $35,337.96. Following the transaction, the chief financial officer now directly owns 684,497 shares in the company, valued at approximately $1,772,847.23. This represents a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Todd Glickman also recently made the following trade(s):

• On Wednesday, February 26th, Todd Glickman sold 13,644 shares of Navitas Semiconductor stock. The shares were sold at an average price of $2.59, for a total transaction of $35,337.96.

Navitas Semiconductor Stock Performance

NVTS opened at $2.44 on Friday. The stock’s 50 day moving average price is $3.28 and its 200-day moving average price is $2.88. Navitas Semiconductor Co. has a 52-week low of $1.75 and a 52-week high of $7.40. The stock has a market capitalization of $455.78 million, a PE ratio of -5.81 and a beta of 2.20.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Navitas Semiconductor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,873,888 shares of the company’s stock worth $35,250,000 after purchasing an additional 166,115 shares during the period. Point72 Asset Management L.P. raised its stake in Navitas Semiconductor by 87.5% in the third quarter. Point72 Asset Management L.P. now owns 8,031,474 shares of the company’s stock worth $19,677,000 after buying an additional 3,748,124 shares in the last quarter. State Street Corp lifted its holdings in Navitas Semiconductor by 4.0% in the third quarter. State Street Corp now owns 5,826,638 shares of the company’s stock worth $14,275,000 after buying an additional 221,575 shares during the period. ArrowMark Colorado Holdings LLC boosted its position in Navitas Semiconductor by 31.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,556,379 shares of the company’s stock valued at $8,713,000 after acquiring an additional 845,664 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Navitas Semiconductor by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 3,081,916 shares of the company’s stock worth $11,005,000 after acquiring an additional 113,277 shares during the period. 46.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVTS has been the subject of a number of recent research reports. Rosenblatt Securities reissued a “buy” rating and issued a $5.00 target price on shares of Navitas Semiconductor in a research note on Thursday, February 20th. Craig Hallum lowered their price objective on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and issued a $4.00 target price on shares of Navitas Semiconductor in a report on Tuesday. Robert W. Baird decreased their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Navitas Semiconductor presently has a consensus rating of “Moderate Buy” and an average price target of $4.25.

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.