Navitas Semiconductor (NASDAQ:NVTS) Announces Earnings Results

Navitas Semiconductor (NASDAQ:NVTS) posted its quarterly earnings data on Tuesday. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01, FiscalAI reports. The company had revenue of $13.99 million during the quarter, compared to analyst estimates of $13.42 million. Navitas Semiconductor had a negative net margin of 856.85% and a negative return on equity of 13.13%.

Navitas Semiconductor Price Performance

NASDAQ NVTS traded up $0.63 on Tuesday, hitting $8.56. 19,065,465 shares of the company were exchanged, compared to its average volume of 22,683,770. The company’s 50 day moving average price is $10.80 and its 200-day moving average price is $13.24. The firm has a market capitalization of $2.23 billion, a P/E ratio of -6.44 and a beta of 3.96. Navitas Semiconductor has a twelve month low of $6.85 and a twelve month high of $34.17.

Analysts Set New Price Targets

Several analysts recently commented on NVTS shares. Needham & Company LLC reissued a “buy” rating and set a $21.00 target price on shares of Navitas Semiconductor in a research note on Tuesday, July 28th. Morgan Stanley restated an “underweight” rating and set a $12.60 target price on shares of Navitas Semiconductor in a report on Tuesday, July 28th. Jefferies Financial Group set a $13.00 price target on shares of Navitas Semiconductor in a research report on Tuesday, July 28th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $13.00 price target on shares of Navitas Semiconductor in a report on Tuesday, September 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Navitas Semiconductor in a research report on Monday, September 14th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Navitas Semiconductor has a consensus rating of “Hold” and an average target price of $15.92.

About Navitas Semiconductor

Navitas Semiconductor Corporation (NASDAQ:NVTS) develops power semiconductor technologies designed to improve the efficiency, performance and size of electronic systems. The company specializes in gallium nitride (GaN) power integrated circuits and silicon carbide (SiC) devices, which are used to convert and manage electrical power.

Its product portfolio includes GaNFast power ICs, GeneSiC silicon carbide products and related power-management solutions. These technologies are used in applications such as mobile and consumer chargers, data centers, solar inverters, electric vehicles, energy storage systems, appliances and industrial equipment.

Founded in 2014, Navitas serves customers and markets globally through its semiconductor products and engineering support.