Navitas Semiconductor (NVTS) Scheduled to Post Quarterly Earnings on Thursday

Navitas Semiconductor (NASDAQ:NVTS) will be announcing its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.04) per share for the quarter. Navitas Semiconductor has set its Q1 2024 guidance at EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Navitas Semiconductor (NASDAQ:NVTS) last issued its earnings results on Thursday, February 29th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $26.06 million during the quarter, compared to the consensus estimate of $25.68 million. Navitas Semiconductor had a negative return on equity of 18.81% and a negative net margin of 183.04%. On average, analysts expect Navitas Semiconductor to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Navitas Semiconductor Trading Down 2.3 %

Shares of NASDAQ NVTS opened at $4.69 on Wednesday. The stock has a 50 day simple moving average of $4.63 and a 200-day simple moving average of $5.96. The company has a market cap of $840.68 million, a PE ratio of -5.33 and a beta of 2.52. Navitas Semiconductor has a 12-month low of $3.54 and a 12-month high of $11.16.

Insider Activity

In other Navitas Semiconductor news, EVP Ranbir Singh sold 10,925 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total value of $52,440.00. Following the transaction, the executive vice president now directly owns 29,357 shares of the company’s stock, valued at $140,913.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Ranbir Singh sold 10,925 shares of Navitas Semiconductor stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.80, for a total transaction of $52,440.00. Following the transaction, the executive vice president now directly owns 29,357 shares of the company’s stock, valued at $140,913.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Daniel M. Kinzer sold 24,073 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.80, for a total transaction of $115,550.40. Following the sale, the chief operating officer now owns 4,538,353 shares in the company, valued at $21,784,094.40. The disclosure for this sale can be found here. Insiders have sold 73,429 shares of company stock valued at $352,459 over the last three months. 36.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVTS. Rosenblatt Securities reiterated a “buy” rating and set a $12.00 price objective on shares of Navitas Semiconductor in a research report on Friday, May 3rd. Northland Securities initiated coverage on shares of Navitas Semiconductor in a research note on Tuesday, January 16th. They set a “market perform” rating on the stock. Finally, Needham & Company LLC cut their target price on shares of Navitas Semiconductor from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.82.

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.