Navitas Semiconductor (NVTS) is expected to release quarterly results on Wednesday

Navitas Semiconductor (NASDAQ: NVTSGet a rating) is expected to release its quarterly earnings data after the market closes on Wednesday, November 9. Analysts expect the company to report earnings of ($0.07) per share for the quarter. Navitas Semiconductor has set its guidance for the third quarter of 2022 at EPS.

Navitas Semiconductor (NASDAQ: NVTSGet a rating) last announced its quarterly results on Monday, August 15. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The company posted revenue of $8.61 million for the quarter, versus analyst estimates of $8.20 million. Navitas Semiconductor had a negative net margin of 55.52% and a negative return on equity of 58.81%. 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 trades up 1.2%

Shares of NVTS-share traded down $0.05 on Wednesday, hitting $4.20. 5,922 shares of the stock have been traded, compared to its average volume of 1,147,805. The company’s 50-day moving average price is $5.03 and its two-hundred-day moving average price is $5.58. The company has a debt ratio of 0.01, a quick ratio of 16.19 and a current ratio of 17.09. The stock has a market capitalization of $527.94 million, a PE ratio of -4.45 and a beta of 2.59. Navitas Semiconductor has a 12-month low of $3.51 and a 12-month high of $22.19.

Wall Street analysts predict growth

NVTS has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft cut its price target on Navitas Semiconductor shares from $8.00 to $7.00 and set a “buy” rating on the stock in a Tuesday, October 18 report. Rosenblatt Securities cut its price target on Navitas Semiconductor stock from $15.00 to $12.00 and placed a “buy” rating on the stock in a Tuesday, Aug. 16 research note. Finally, Needham & Company LLC raised its price target on Navitas Semiconductor from $6.00 to $8.00 and gave the company a “buy” rating in a Tuesday, August 16 report. One research analyst gave the stock a hold rating and seven gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.57.

Institutional entries and exits

Several large investors have recently bought and sold shares of NVTS. Northern Trust Corp increased its stake in Navitas Semiconductor shares by 18.5% during the second quarter. Northern Trust Corp now owns 154,177 shares of the company valued at $595,000 after acquiring an additional 24,053 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in Navitas Semiconductor stock in Q1 worth approximately $449,000. Goldman Sachs Group Inc. increased its stake in Navitas Semiconductor shares by 199.2% in Q2. Goldman Sachs Group Inc. now owns 102,698 shares of the company valued at $396,000 after buying an additional 68,377 shares last quarter. Baird Financial Group Inc. acquired a new position in Navitas Semiconductor stock in Q1 worth approximately $319,000. Finally, PEAK6 Investments LLC acquired a new position in Navitas Semiconductor stock in Q1 worth approximately $127,000. Hedge funds and other institutional investors hold 22.70% of the company’s shares.

Navitas Semiconductor Company Profile

(Get a rating)

Navitas Semiconductor Corporation designs, develops and markets gallium nitride (GaN) power integrated circuits used in power conversion and charging. It operates in the United States, Ireland, Germany, Italy, Belgium, China, Taiwan and the Philippines. The company was incorporated in 2013 and is based in El Segundo, California.

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