Navitas Semiconductor (NVTS) to Release Earnings on Thursday

Navitas Semiconductor (NASDAQ:NVTS) is expected to be releasing 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. Persons interested in participating in the company’s earnings conference call can do so using this link.

Navitas Semiconductor Trading Down 6.1 %

NASDAQ:NVTS opened at $2.29 on Tuesday. The company has a market cap of $427.76 million, a PE ratio of -5.45 and a beta of 2.20. Navitas Semiconductor has a twelve month low of $1.75 and a twelve month high of $6.03. The company’s 50 day moving average is $3.27 and its two-hundred day moving average is $2.87.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Navitas Semiconductor in a report on Thursday, February 20th. Robert W. Baird dropped their price objective on shares of Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Navitas Semiconductor in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Craig Hallum dropped their price objective 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Navitas Semiconductor presently has an average rating of “Moderate Buy” and an average target price of $4.25.

Insider Buying and Selling

In related news, Director Richard J. Hendrix sold 40,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $4.54, for a total transaction of $181,600.00. Following the sale, the director now directly owns 316,709 shares of the company’s stock, valued at approximately $1,437,858.86. This represents a 11.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Todd Glickman sold 13,644 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $2.59, for a total transaction of $35,337.96. Following the sale, the chief financial officer now directly owns 684,497 shares in the company, valued at $1,772,847.23. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,288 shares of company stock valued at $575,476. Corporate insiders own 31.80% of the company’s stock.

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.