Navitas Semiconductor (NASDAQ:NVTS) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

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

Navitas Semiconductor Trading Down 8.8 %

Shares of NVTS stock traded down $0.28 during mid-day trading on Monday, reaching $2.89. The stock had a trading volume of 5,452,737 shares, compared to its average volume of 4,118,460. The firm has a market capitalization of $539.84 million, a PE ratio of -6.88 and a beta of 2.20. The stock’s 50-day moving average price is $3.33 and its two-hundred day moving average price is $2.89. Navitas Semiconductor has a 52-week low of $1.75 and a 52-week high of $7.40.

Insider Transactions at Navitas Semiconductor

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 transaction, the director now directly owns 316,709 shares of the company’s stock, valued at approximately $1,437,858.86. The trade was a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 31.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NVTS shares. Robert W. Baird decreased their price objective on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of 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 reduced their target price on shares of 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 issued a $5.00 price target on shares of Navitas Semiconductor in a research note on Thursday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.