Navitas Semiconductor (NASDAQ:NVTS) Posts Earnings Results, Hits Estimates

Navitas Semiconductor (NASDAQ:NVTS) posted its quarterly earnings data on Monday. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06), RTT News reports. Navitas Semiconductor had a negative return on equity of 22.29% and a negative net margin of 55.70%. The firm had revenue of $21.68 million during the quarter, compared to the consensus estimate of $21.93 million. During the same period in the prior year, the business earned ($0.10) EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. Navitas Semiconductor updated its Q4 2024 guidance to EPS.

Navitas Semiconductor Stock Performance

Shares of NASDAQ NVTS traded down $0.24 during trading on Tuesday, reaching $2.37. The stock had a trading volume of 1,997,580 shares, compared to its average volume of 2,647,916. The stock has a market cap of $433.95 million, a PE ratio of -8.46 and a beta of 2.36. The firm’s 50 day moving average price is $2.52 and its two-hundred day moving average price is $3.45. Navitas Semiconductor has a one year low of $2.14 and a one year high of $8.44.

Analyst Upgrades and Downgrades

NVTS has been the subject of several analyst reports. Needham & Company LLC cut their price target on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday. Morgan Stanley lowered their target price on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th. Craig Hallum lowered their price objective on shares of Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Rosenblatt Securities restated a “buy” rating and set a $7.50 target price on shares of Navitas Semiconductor in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $4.75.

Insider Activity

In other news, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction that occurred 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 sale, the director now owns 867,848 shares of the company’s stock, valued at approximately $2,716,364.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Daniel M. Kinzer sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3.10, for a total transaction of $465,000.00. Following the completion of the transaction, the chief operating officer now owns 4,388,353 shares in the company, valued at approximately $13,603,894.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David Moxam sold 33,000 shares of Navitas Semiconductor stock in a transaction that occurred 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 in the company, valued at $2,716,364.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 829,852 shares of company stock valued at $2,528,252. 31.80% of the stock is currently owned by company insiders.

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.