Navitas Semiconductor (NASDAQ:NVTS) Lowered 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 report issued on Monday, Marketbeat Ratings reports. They currently have a $1.50 price target on the stock, down from their prior price target of $2.10. Morgan Stanley’s price target would suggest a potential downside of 9.37% from the company’s previous close.

Several other analysts have also recently commented on the company. Robert W. Baird lowered their price target on Navitas Semiconductor from $5.00 to $4.00 and set an “outperform” rating for the company in a report 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 note on Thursday, March 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $4.00 target price on shares of Navitas Semiconductor in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $3.82.

Navitas Semiconductor Stock Down 8.6 %

Shares of Navitas Semiconductor stock traded down $0.16 during trading on Monday, hitting $1.66. 3,571,261 shares of the company were exchanged, compared to its average volume of 3,713,971. The firm has a 50 day moving average price of $2.60 and a 200 day moving average price of $2.79. The stock has a market capitalization of $315.33 million, a price-to-earnings ratio of -3.94 and a beta of 2.24. Navitas Semiconductor has a fifty-two week low of $1.52 and a fifty-two week high of $5.14.

Insider Buying and Selling

In other Navitas Semiconductor news, Director Brian Long sold 47,189 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $2.36, for a total value of $111,366.04. Following the transaction, the director now directly owns 31,460 shares of the company’s stock, valued at $74,245.60. This represents a 60.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Todd Glickman sold 13,644 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 of the company’s stock, valued at $1,772,847.23. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,477 shares of company stock worth $182,042. 31.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navitas Semiconductor

Large investors have recently modified their holdings of the stock. American Century Companies Inc. raised its holdings in shares of Navitas Semiconductor by 52.7% during the fourth quarter. American Century Companies Inc. now owns 15,704 shares of the company’s stock worth $56,000 after purchasing an additional 5,419 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Navitas Semiconductor by 125.4% during the 4th 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 during the last quarter. Goodman Financial Corp bought a new stake in shares of Navitas Semiconductor during the 4th quarter valued at about $36,000. Caption Management LLC acquired a new stake in Navitas Semiconductor during the fourth quarter worth about $36,000. Finally, Steel Grove Capital Advisors LLC acquired a new position in Navitas Semiconductor in the fourth quarter valued at approximately $39,000. Institutional investors own 46.14% 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.