Navitas Semiconductor (NVTS) to Release Quarterly Earnings on Monday

Navitas Semiconductor (NASDAQ:NVTS) is scheduled to be announcing its earnings results after the market closes on Monday, November 4th. Analysts expect the company to announce earnings of ($0.06) per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Navitas Semiconductor (NASDAQ:NVTS) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The business had revenue of $20.50 million for the quarter, compared to analyst estimates of $20.01 million. Navitas Semiconductor had a negative return on equity of 22.29% and a negative net margin of 55.70%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.12) EPS. On average, analysts expect Navitas Semiconductor to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Navitas Semiconductor Price Performance

NASDAQ NVTS opened at $2.58 on Friday. The firm has a market cap of $472.40 million, a P/E ratio of -9.21 and a beta of 2.38. Navitas Semiconductor has a one year low of $2.14 and a one year high of $8.44. The stock’s 50-day moving average is $2.54 and its 200-day moving average is $3.48.

Insiders Place Their Bets

In other Navitas Semiconductor news, Director David Moxam sold 33,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $103,290.00. Following the completion of the transaction, the director now directly owns 867,848 shares of the company’s stock, valued at approximately $2,716,364.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Eugene Sheridan sold 193,662 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $3.03, for a total value of $586,795.86. Following the completion of the transaction, the chief executive officer now directly owns 2,149,631 shares of the company’s stock, valued at approximately $6,513,381.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Moxam sold 33,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $103,290.00. Following the sale, the director now directly owns 867,848 shares in the company, valued at $2,716,364.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 829,852 shares of company stock valued at $2,528,252. Corporate insiders own 31.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NVTS shares. Needham & Company LLC cut their price objective on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Morgan Stanley decreased their price target on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Craig Hallum lowered their price objective on Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Rosenblatt Securities reiterated a “buy” rating and set a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Navitas Semiconductor from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.64.

About Navitas Semiconductor

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.