In yesterday’s Wall Street session, Navitas Semiconductor Corp (NASDAQ:NVTS) shares traded at $4.69, down -8.58% from the previous session.
NVTS stock price is now -23.85% away from the 50-day moving average and -37.89% away from the 200-day moving average. The market capitalization of the company currently stands at $840.68M.
On August 29, 2023, Morgan Stanley recently initiated its ‘Equal-Weight’ rating on the stock quoting a target price of $9.20, while ‘Rosenblatt’ rates the stock as ‘Buy’
In other news, Saluja Dipender, Director sold 43,529 shares of the company’s stock on Dec 15 ’23. The stock was sold for $357,256 at an average price of $8.21. Upon completion of the transaction, the Director now directly owns 6,205,599 shares in the company, valued at $29.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 15 ’23, Sr VP, CFO and Treasurer SHELTON RON sold 10,000 shares of the business’s stock. A total of $81,101 was realized by selling the stock at an average price of $8.11. This leaves the insider owning 306,668 shares of the company worth $1.44 million. A total of 34.26% of the company’s stock is owned by insiders.
During the past 12 months, Navitas Semiconductor Corp has had a low of $4.76 and a high of $11.16. As of last week, the company has a debt-to-equity ratio of 0.02, a current ratio of 4.14, and a quick ratio of 3.68. The fifty day moving average price for NVTS is $6.0998 and a two-hundred day moving average price translates $7.5314 for the stock.
The latest earnings results from Navitas Semiconductor Corp (NASDAQ: NVTS) was released for Dec, 2023. According to the Semiconductors Company, earnings per share came in at -$0.04, beating analysts’ expectations of -$0.05 by 0.01. This compares to -$0.13 EPS in the same period last year. The net profit margin was -183.04% and return on equity was -38.18% for NVTS. The company reported revenue of $26.06 million for the quarter, compared to $12.35 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 111.01 percent. For the current quarter, analysts expect NVTS to generate $22.93M in revenue.
Navitas Semiconductor Corp(NVTS) 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. It operates in the United States, Europe, China, rest of Asia, and internationally. The company was founded in 2013 and is based in Torrance, California.
