Navitas Semiconductor (NVTS) to Release Quarterly Earnings on Monday

Navitas Semiconductor (NASDAQ:NVTS) is scheduled to release its earnings data after the market closes on Monday, November 4th. Analysts expect Navitas Semiconductor to post earnings of ($0.06) per share for the quarter. Parties that are 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Navitas Semiconductor had a negative return on equity of 22.29% and a negative net margin of 55.70%. The company had revenue of $20.50 million during the quarter, compared to the consensus estimate of $20.01 million. During the same quarter last year, the firm posted ($0.12) EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. 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 Monday. The company’s fifty day moving average price is $2.57 and its two-hundred day moving average price is $3.51. The company has a market capitalization of $472.40 million, a price-to-earnings ratio of -5.00 and a beta of 2.38. Navitas Semiconductor has a 12 month low of $2.14 and a 12 month high of $8.44.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NVTS. Craig Hallum reduced their price target on shares of Navitas Semiconductor from $7.50 to $6.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC reduced their target price on Navitas Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Morgan Stanley decreased their target price on Navitas Semiconductor from $4.60 to $3.50 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Rosenblatt Securities reissued a “buy” rating and set a $10.00 price target on shares of Navitas Semiconductor in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Insider Activity

In related news, Director David Moxam sold 33,000 shares of the company’s 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 in the company, valued at $2,716,364.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Daniel M. Kinzer sold 150,000 shares of Navitas Semiconductor stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total transaction of $465,000.00. Following the sale, the chief operating officer now owns 4,388,353 shares of the company’s stock, valued at approximately $13,603,894.30. 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. Also, Director David Moxam sold 33,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $3.13, for a total value of $103,290.00. Following the transaction, the director now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 829,852 shares of company stock valued at $2,528,252. 31.80% of the stock is currently owned by insiders.

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.