Navitas Semiconductor (NASDAQ:NVTS) Announces Earnings Results

Navitas Semiconductor (NASDAQ:NVTS) posted its earnings results on Monday. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02), Zacks reports. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.64%.

Navitas Semiconductor Trading Down 8.8 %

NASDAQ NVTS traded down $0.28 during trading hours on Monday, hitting $2.89. 5,496,082 shares of the company’s stock were exchanged, compared to its average volume of 4,118,460. Navitas Semiconductor has a 1-year low of $1.75 and a 1-year high of $7.40. The stock has a 50-day simple moving average of $3.33 and a 200 day simple moving average of $2.89. The firm has a market cap of $539.84 million, a price-to-earnings ratio of -6.88 and a beta of 2.20.

Insiders Place Their Bets

In other news, Director Richard J. Hendrix sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $4.54, for a total transaction of $181,600.00. Following the completion of the sale, the director now owns 316,709 shares in the company, valued at $1,437,858.86. The trade was a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 31.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NVTS. Robert W. Baird reduced their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Rosenblatt Securities restated a “buy” rating and issued a $5.00 price objective on shares of Navitas Semiconductor in a report on Thursday. Craig Hallum cut their target price on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Navitas Semiconductor presently has an average rating of “Moderate Buy” and a consensus target price of $4.39.

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.