Navitas Semiconductor (NASDAQ:NVTS) Posts Earnings Results

Navitas Semiconductor (NASDAQ:NVTS) announced its earnings results on Monday. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01), Briefing.com reports. Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. The business had revenue of $20.50 million for the quarter, compared to the consensus estimate of $20.01 million. During the same quarter in the previous year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis.

Navitas Semiconductor Trading Up 3.4 %

Shares of NVTS traded up $0.11 on Wednesday, reaching $3.32. 851,090 shares of the company’s stock traded hands, compared to its average volume of 2,711,256. The stock has a market cap of $607.90 million, a PE ratio of -6.29 and a beta of 2.42. The stock’s 50 day simple moving average is $4.12 and its two-hundred day simple moving average is $4.67. Navitas Semiconductor has a 52-week low of $2.94 and a 52-week high of $10.10.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NVTS. Jefferies Financial Group restated a “hold” rating and set a $4.00 target price (down previously from $10.00) on shares of Navitas Semiconductor in a research report on Monday, May 13th. Craig Hallum dropped their price target on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday. Needham & Company LLC dropped their price target on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $10.00 price target on shares of Navitas Semiconductor in a research note on Friday, August 2nd. Finally, Robert W. Baird dropped their price target on Navitas Semiconductor from $12.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Navitas Semiconductor currently has an average rating of “Moderate Buy” and a consensus target price of $6.50.

Insider Activity at Navitas Semiconductor

In other Navitas Semiconductor news, Director Dipender Saluja sold 87,059 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $4.45, for a total transaction of $387,412.55. Following the completion of the transaction, the director now directly owns 5,944,420 shares of the company’s stock, valued at $26,452,669. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 31.80% of the stock is currently owned by company insiders.

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.