Navitas Semiconductor Co. (NASDAQ:NVTS) COO Daniel M. Kinzer Sells 24,073 Shares

Navitas Semiconductor Co. (NASDAQ:NVTS) COO Daniel M. Kinzer sold 24,073 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $115,550.40. Following the sale, the chief operating officer now directly owns 4,538,353 shares of the company’s stock, valued at approximately $21,784,094.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Navitas Semiconductor Trading Down 1.9 %

Shares of NVTS traded down $0.09 during trading hours on Friday, reaching $4.60. The stock had a trading volume of 7,874,841 shares, compared to its average volume of 2,959,096. Navitas Semiconductor Co. has a 12 month low of $4.56 and a 12 month high of $11.16. The firm has a 50-day simple moving average of $6.02 and a 200 day simple moving average of $6.68. The company has a market capitalization of $821.05 million, a price-to-earnings ratio of -5.23 and a beta of 2.60.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and set a $12.00 target price on shares of Navitas Semiconductor in a research report on Friday, March 1st. Northland Securities started coverage on Navitas Semiconductor in a report on Tuesday, January 16th. They set a “market perform” rating on the stock. Finally, Needham & Company LLC cut their price target on Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Navitas Semiconductor has an average rating of “Moderate Buy” and a consensus target price of $9.82.

Hedge Funds Weigh In On Navitas Semiconductor

A number of large investors have recently modified their holdings of NVTS. Citigroup Inc. purchased a new stake in Navitas Semiconductor in the 1st quarter valued at $711,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Navitas Semiconductor in the 1st quarter valued at $924,000. Vanguard Group Inc. raised its position in Navitas Semiconductor by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,044,876 shares of the company’s stock valued at $10,741,000 after buying an additional 9,185 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in Navitas Semiconductor in the 1st quarter valued at $319,000. Finally, First Trust Advisors LP purchased a new stake in Navitas Semiconductor in the 1st quarter valued at $8,462,000. 37.45% 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.