Navitas Semiconductor (NASDAQ:NVTS) Downgraded to “Underweight” Rating by Morgan Stanley

Navitas Semiconductor (NASDAQ:NVTS) was downgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $1.50 price target on the stock, down from their previous price target of $2.10. Morgan Stanley’s price target points to a potential downside of 9.37% from the stock’s previous close.

Several other equities analysts also recently weighed in on NVTS. Robert W. Baird decreased their target price on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Rosenblatt Securities restated a “buy” rating and set a $5.00 target price on shares of Navitas Semiconductor in a report on Thursday, March 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $4.00 target price on shares of Navitas Semiconductor in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.82.

Navitas Semiconductor Stock Down 8.6 %

Shares of NVTS stock traded down $0.16 on Monday, hitting $1.66. The company had a trading volume of 3,571,261 shares, compared to its average volume of 3,713,971. Navitas Semiconductor has a twelve month low of $1.52 and a twelve month high of $5.14. The firm has a market cap of $315.33 million, a P/E ratio of -3.94 and a beta of 2.24. The company has a 50-day moving average price of $2.60 and a 200-day moving average price of $2.79.

Insiders Place Their Bets

In other Navitas Semiconductor news, CFO Todd Glickman sold 13,644 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 684,497 shares in the company, valued at $1,772,847.23. This represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Long sold 47,189 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $2.36, for a total transaction of $111,366.04. Following the completion of the transaction, the director now owns 31,460 shares of the company’s stock, valued at approximately $74,245.60. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,477 shares of company stock worth $182,042 over the last ninety days. Corporate insiders own 31.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NVTS. Benjamin Edwards Inc. purchased a new position in Navitas Semiconductor in the third quarter valued at approximately $36,000. Goodman Financial Corp purchased a new position in shares of Navitas Semiconductor during the 4th quarter worth approximately $36,000. Caption Management LLC acquired a new position in shares of Navitas Semiconductor during the 4th quarter worth $36,000. Tower Research Capital LLC TRC increased its holdings in Navitas Semiconductor by 125.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock valued at $37,000 after buying an additional 5,726 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC purchased a new position in Navitas Semiconductor in the 4th quarter valued at approximately $39,000. 46.14% of the stock is owned by institutional investors and hedge funds.

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.