Navitas Semiconductor (NVTS) Expected to Announce Quarterly Earnings on Monday

Navitas Semiconductor (NASDAQ:NVTS) is expected to issue its quarterly earnings data after the market closes on Monday, February 24th. Analysts expect the company to announce earnings of ($0.06) per share and revenue of $19.03 million for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Navitas Semiconductor Trading Down 6.8 %

NVTS stock opened at $3.17 on Friday. The stock’s fifty day simple moving average is $3.33 and its two-hundred day simple moving average is $2.89. Navitas Semiconductor has a 1-year low of $1.75 and a 1-year high of $7.40. The stock has a market cap of $592.16 million, a P/E ratio of -7.55 and a beta of 2.20.

Analyst Upgrades and Downgrades

NVTS has been the topic of several research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $5.00 price objective on shares of Navitas Semiconductor in a research report on Thursday. Robert W. Baird dropped their price target on Navitas Semiconductor from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Craig Hallum dropped their price target on Navitas Semiconductor from $6.50 to $4.25 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Navitas Semiconductor from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Navitas Semiconductor has a consensus rating of “Moderate Buy” and a consensus price target of $4.39.

Insiders Place Their Bets

In other news, Director Richard J. Hendrix sold 80,000 shares of Navitas Semiconductor stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $4.04, for a total transaction of $323,200.00. Following the completion of the sale, the director now owns 356,709 shares in the company, valued at approximately $1,441,104.36. This trade represents a 18.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.80% of the stock is owned by corporate insiders.

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.