Navitas Semiconductor (NVTS) Expected to Announce Quarterly Earnings on Thursday

Navitas Semiconductor (NASDAQ:NVTS) is projected to release its earnings data after the market closes on Thursday, March 6th. Analysts expect Navitas Semiconductor to post earnings of ($0.06) per share and revenue of $19.03 million for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Navitas Semiconductor Stock Up 6.6 %

NASDAQ:NVTS opened at $2.44 on Wednesday. The stock has a fifty day simple moving average of $3.24 and a 200 day simple moving average of $2.87. The firm has a market capitalization of $455.78 million, a price-to-earnings ratio of -5.81 and a beta of 2.20. Navitas Semiconductor has a 1-year low of $1.75 and a 1-year high of $5.71.

Insider Transactions at Navitas Semiconductor

In other news, Director Richard J. Hendrix sold 80,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $4.04, for a total transaction of $323,200.00. Following the transaction, the director now owns 356,709 shares in the company, valued at $1,441,104.36. This represents a 18.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Todd Glickman sold 13,644 shares of Navitas Semiconductor stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $2.59, for a total transaction of $35,337.96. Following the completion of the sale, the chief financial officer now directly owns 684,497 shares of the company’s stock, valued at approximately $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 ninety days, insiders have sold 147,288 shares of company stock valued at $575,476. 31.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVTS. Robert W. Baird dropped their target price on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $4.00 price objective on shares of Navitas Semiconductor in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft reduced their target price on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Craig Hallum lowered their price target 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, Rosenblatt Securities reissued a “buy” rating and set a $5.00 price target on shares of Navitas Semiconductor in a research report on Thursday, February 20th. Two investment 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 presently has an average rating of “Moderate Buy” and an average target price of $4.25.

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.