Brian Long Sells 47,189 Shares of Navitas Semiconductor Co. (NASDAQ:NVTS) Stock

Navitas Semiconductor Co. (NASDAQ:NVTS) Director Brian Long sold 47,189 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $2.36, for a total transaction of $111,366.04. Following the transaction, the director now directly owns 31,460 shares in the company, valued at $74,245.60. The trade was a 60.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Navitas Semiconductor Stock Performance

Navitas Semiconductor stock remained flat at $2.33 during mid-day trading on Friday. 4,233,040 shares of the company’s stock traded hands, compared to its average volume of 3,598,655. Navitas Semiconductor Co. has a 52-week low of $1.75 and a 52-week high of $5.14. The business has a fifty day moving average price of $2.89 and a 200 day moving average price of $2.82. The firm has a market capitalization of $435.23 million, a PE ratio of -5.55 and a beta of 2.23.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NVTS. Robert W. Baird decreased their target price on shares of Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Rosenblatt Securities reissued a “buy” rating and set a $5.00 price objective on shares of Navitas Semiconductor in a research 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 research note on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Navitas Semiconductor currently has an average rating of “Moderate Buy” and a consensus target price of $4.11.

Institutional Trading of Navitas Semiconductor

Several large investors have recently made changes to their positions in the stock. Goodman Financial Corp acquired a new stake in Navitas Semiconductor in the 4th quarter worth approximately $36,000. Caption Management LLC bought a new position in shares of Navitas Semiconductor in the fourth quarter valued at approximately $36,000. Tower Research Capital LLC TRC lifted its stake in shares of Navitas Semiconductor by 125.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,294 shares of the company’s stock worth $37,000 after buying an additional 5,726 shares during the last quarter. Steel Grove Capital Advisors LLC bought a new stake in shares of Navitas Semiconductor during the 4th quarter worth $39,000. Finally, Cibc World Markets Corp acquired a new position in Navitas Semiconductor in the 4th quarter valued at $42,000. Institutional investors own 46.14% of the company’s stock.

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.