Navitas Semiconductor Co. (NASDAQ:NVTS) EVP Sells $120,450,595.38 in Stock

Navitas Semiconductor Co. (NASDAQ:NVTS – Get Rating) EVP Ranbir Singh sold 18,645,603 shares of Navitas Semiconductor stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $6.46, for a total value of $120,450,595.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Navitas Semiconductor Price Performance

NASDAQ NVTS opened at $6.39 on Friday. Navitas Semiconductor Co. has a 12 month low of $3.11 and a 12 month high of $11.01. The firm has a market capitalization of $803.22 million, a PE ratio of 10.83 and a beta of 2.38. The company’s 50 day simple moving average is $5.50 and its 200 day simple moving average is $4.87.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Navitas Semiconductor from $6.00 to $8.00 in a report on Friday, February 24th. Robert W. Baird lifted their price target on Navitas Semiconductor from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, February 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price target on shares of Navitas Semiconductor in a report on Friday, February 24th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Navitas Semiconductor has an average rating of “Moderate Buy” and a consensus target price of $7.83.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of Navitas Semiconductor by 1,768.8% during the first quarter. State Street Corp now owns 4,341,127 shares of the company’s stock valued at $44,627,000 after acquiring an additional 4,108,827 shares during the period. Invesco Ltd. increased its stake in shares of Navitas Semiconductor by 47.3% during the first quarter. Invesco Ltd. now owns 2,034,888 shares of the company’s stock valued at $20,919,000 after acquiring an additional 653,223 shares during the period. Vanguard Group Inc. grew its position in Navitas Semiconductor by 43.4% in the third quarter. Vanguard Group Inc. now owns 1,859,959 shares of the company’s stock worth $9,021,000 after buying an additional 562,582 shares during the last quarter. BlackRock Inc. grew its position in Navitas Semiconductor by 4.6% in the third quarter. BlackRock Inc. now owns 1,271,346 shares of the company’s stock worth $6,166,000 after buying an additional 55,366 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Navitas Semiconductor by 17.9% in the third quarter. First Trust Advisors LP now owns 981,669 shares of the company’s stock worth $4,761,000 after buying an additional 149,317 shares during the last quarter. Institutional investors and hedge funds own 22.70% of the company’s stock.

Navitas Semiconductor Company Profile

(Get Rating)

Navitas Semiconductor Corporation designs, develops, and markets gallium nitride (GaN) power integrated circuits used in power conversion and charging. It operates in the United States, Ireland, Germany, Italy, Belgium, China, Taiwan, and the Philippines. The company was incorporated in 2013 and is based in El Segundo, California.