Navitas Semiconductor (NASDAQ:NVTS) Releases Earnings Results

Navitas Semiconductor (NASDAQ:NVTS) posted its quarterly earnings results on Monday. The company reported ($0.06) EPS for the quarter, hitting 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 business had revenue of $21.68 million for the quarter, compared to analyst estimates of $21.93 million. During the same quarter in the previous year, the firm earned ($0.10) EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Navitas Semiconductor updated its Q4 2024 guidance to EPS.

Navitas Semiconductor Trading Down 4.2 %

NASDAQ:NVTS traded down $0.10 during midday trading on Wednesday, hitting $2.26. 1,144,500 shares of the company were exchanged, compared to its average volume of 2,659,095. Navitas Semiconductor has a fifty-two week low of $2.14 and a fifty-two week high of $8.44. The company has a fifty day simple moving average of $2.51 and a 200 day simple moving average of $3.44. The company has a market capitalization of $413.81 million, a PE ratio of -8.43 and a beta of 2.36.

Insider Transactions at Navitas Semiconductor

In other Navitas Semiconductor news, CEO Eugene Sheridan sold 453,190 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the transaction, the chief executive officer now directly owns 2,608,441 shares of the company’s stock, valued at approximately $7,903,576.23. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Eugene Sheridan sold 453,190 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the completion of the sale, the chief executive officer now directly owns 2,608,441 shares of the company’s stock, valued at $7,903,576.23. This trade 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 available through this link. 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 829,852 shares of company stock worth $2,528,252. Insiders own 31.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday. Craig Hallum reduced their target price on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday. Rosenblatt Securities reiterated a “buy” rating and set a $7.50 price target on shares of Navitas Semiconductor in a report on Thursday, October 31st. Morgan Stanley dropped their target price on shares of Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a report on Tuesday, August 6th. Finally, Needham & Company LLC lowered their price objective on shares of Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Navitas Semiconductor currently has an average rating of “Moderate Buy” and an average price target of $4.75.

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.