Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) posted its earnings results on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01), Briefing.com reports. The business had revenue of $20.50 million for the quarter, compared to analyst estimates of $20.01 million. Navitas Semiconductor had a negative net margin of 97.75% and a negative return on equity of 21.22%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.12) earnings per share.
Navitas Semiconductor Trading Down 6.2 %
NVTS stock opened at $3.05 on Tuesday. The business has a 50 day simple moving average of $4.15 and a 200-day simple moving average of $4.71. The company has a market capitalization of $558.46 million, a P/E ratio of -5.98 and a beta of 2.42. Navitas Semiconductor has a twelve month low of $2.94 and a twelve month high of $10.10.
Insider Buying and Selling
In other Navitas Semiconductor news, Director Dipender Saluja sold 87,059 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $4.45, for a total transaction of $387,412.55. Following the completion of the sale, the director now directly owns 5,944,420 shares of the company’s stock, valued at approximately $26,452,669. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 31.80% of the stock is owned by company insiders.
Analysts Set New Price Targets
Read Our Latest Analysis on NVTS
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.
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