Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) released its quarterly earnings results on Monday. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06), RTT News reports. The firm had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $21.93 million. Navitas Semiconductor had a negative net margin of 84.61% and a negative return on equity of 23.51%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. Navitas Semiconductor updated its Q4 2024 guidance to EPS.
Navitas Semiconductor Price Performance
Navitas Semiconductor stock traded down $0.09 during trading hours on Thursday, reaching $2.21. The company had a trading volume of 1,913,989 shares, compared to its average volume of 2,667,837. Navitas Semiconductor has a 12-month low of $2.14 and a 12-month high of $8.44. The company has a 50-day moving average price of $2.49 and a 200 day moving average price of $3.43. The firm has a market cap of $404.65 million, a price-to-earnings ratio of -5.48 and a beta of 2.36.
Insider Activity
In related news, CEO Eugene Sheridan sold 453,190 shares of Navitas Semiconductor stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total value of $1,373,165.70. Following the transaction, the chief executive officer now directly owns 2,608,441 shares of the company’s stock, valued at $7,903,576.23. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Eugene Sheridan sold 453,190 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the completion of the sale, the chief executive officer now directly owns 2,608,441 shares in the company, valued at approximately $7,903,576.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Daniel M. Kinzer sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total value of $465,000.00. Following the completion of the sale, the chief operating officer now directly owns 4,388,353 shares in the company, valued at $13,603,894.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 829,852 shares of company stock valued at $2,528,252. 31.80% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Check Out Our Latest Report on Navitas Semiconductor
About Navitas Semiconductor
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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