Navitas Semiconductor (NASDAQ:NVTS) Reaches New 1-Year Low at $4.45

Shares of Navitas Semiconductor Co. (NASDAQ:NVTS - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $4.45 and last traded at $4.46, with a volume of 4144842 shares changing hands. The stock had previously closed at $4.70.

Analyst Upgrades and Downgrades

NVTS has been the subject of several research reports. Northland Securities initiated coverage on shares of Navitas Semiconductor in a research report on Tuesday, January 16th. They issued a "market perform" rating for the company. Needham & Company LLC cut their target price on shares of Navitas Semiconductor from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Friday, March 1st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $12.00 target price on shares of Navitas Semiconductor in a research report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Navitas Semiconductor currently has an average rating of "Moderate Buy" and an average price target of $9.82.

Navitas Semiconductor Stock Down 5.1 %

The stock's 50 day moving average is $5.88 and its 200-day moving average is $6.59.

Insider Buying and Selling

In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 24,073 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $115,550.40. Following the sale, the chief operating officer now owns 4,538,353 shares in the company, valued at $21,784,094.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Eugene Sheridan sold 38,431 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 $184,468.80. Following the sale, the chief executive officer now owns 3,061,631 shares in the company, valued at $14,695,828.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 owns 4,538,353 shares in the company, valued at approximately $21,784,094.40. The disclosure for this sale can be found here. Insiders sold a total of 73,429 shares of company stock valued at $352,459 over the last three months. Corporate insiders own 36.80% of the company's stock.

Institutional Investors Weigh In On Navitas Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its position in Navitas Semiconductor by 3.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 61,000 shares of the company's stock worth $492,000 after acquiring an additional 2,050 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Navitas Semiconductor by 8.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,113 shares of the company's stock worth $219,000 after purchasing an additional 2,202 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Navitas Semiconductor by 7.8% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 31,230 shares of the company's stock valued at $217,000 after buying an additional 2,250 shares in the last quarter. Laidlaw Wealth Management LLC lifted its holdings in Navitas Semiconductor by 16.7% during the 4th quarter. Laidlaw Wealth Management LLC now owns 18,316 shares of the company's stock valued at $148,000 after buying an additional 2,618 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Navitas Semiconductor by 23.9% in the 4th quarter. Victory Capital Management Inc. now owns 15,842 shares of the company's stock valued at $128,000 after purchasing an additional 3,052 shares in the last quarter. Hedge funds and other institutional investors own 37.45% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.