Navitas Semiconductor (NVTS) Scheduled to Post Earnings on Monday

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) is scheduled to be announcing its earnings results after the market closes on Monday, November 4th. Analysts expect the company to announce earnings of ($0.06) per share for the quarter. Persons interested in listening to the company's earnings conference call can do so using this link.

Navitas Semiconductor (NASDAQ:NVTS - Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $20.50 million during the quarter, compared to analysts' expectations of $20.01 million. During the same period in the prior year, the firm posted ($0.12) EPS. The firm's revenue for the quarter 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 Stock Up 9.0 %

NVTS stock traded up $0.23 during midday trading on Monday, hitting $2.78. The company's stock had a trading volume of 3,982,652 shares, compared to its average volume of 2,641,051. The stock's 50-day moving average price is $2.57 and its 200 day moving average price is $3.51. Navitas Semiconductor has a 1 year low of $2.14 and a 1 year high of $8.44. The stock has a market cap of $509.02 million, a price-to-earnings ratio of -5.41 and a beta of 2.38.

Insider Activity at Navitas Semiconductor

In related news, CEO Eugene Sheridan sold 453,190 shares of Navitas Semiconductor stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 2,608,441 shares in the company, valued at $7,903,576.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the director now owns 867,848 shares in the company, valued at approximately $2,716,364.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eugene Sheridan sold 453,190 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total value of $1,373,165.70. Following 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 829,852 shares of company stock worth $2,528,252 over the last ninety days. 31.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NVTS shares. Morgan Stanley dropped their price target on Navitas Semiconductor from $4.60 to $3.50 and set an "equal weight" rating on the stock in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price target on Navitas Semiconductor from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Tuesday, August 6th. Craig Hallum decreased their price objective on Navitas Semiconductor from $7.50 to $6.50 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Rosenblatt Securities reiterated a "buy" rating and set a $10.00 price objective on shares of Navitas Semiconductor in a research note on Friday, August 2nd. Finally, Needham & Company LLC decreased their price objective on Navitas Semiconductor from $7.00 to $5.00 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 given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $6.00.

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.