Navitas Semiconductor (NASDAQ:NVTS – Get Free Report) posted its quarterly earnings results on Monday. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06), RTT News reports. Navitas Semiconductor had a negative return on equity of 23.51% and a negative net margin of 84.61%. The business had revenue of $21.68 million for the quarter, compared to the consensus estimate of $21.93 million. During the same period in the prior year, the business earned ($0.10) EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Navitas Semiconductor updated its Q4 2024 guidance to EPS.
Navitas Semiconductor Stock Down 3.9 %
Navitas Semiconductor stock traded down $0.09 during mid-day trading on Thursday, reaching $2.21. 1,913,989 shares of the company’s stock were exchanged, compared to its average volume of 2,667,837. The business’s fifty day simple moving average is $2.49 and its 200 day simple moving average is $3.43. Navitas Semiconductor has a one year low of $2.14 and a one year high of $8.44. The firm has a market capitalization of $404.65 million, a PE ratio of -5.48 and a beta of 2.36.
Insider Buying and Selling at Navitas Semiconductor
In other news, CEO Eugene Sheridan sold 453,190 shares of Navitas Semiconductor stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $3.03, for a total transaction of $1,373,165.70. Following the sale, the chief executive officer now directly owns 2,608,441 shares in the company, valued at $7,903,576.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Navitas Semiconductor news, COO Daniel M. Kinzer sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3.10, for a total value of $465,000.00. Following 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eugene Sheridan sold 453,190 shares of the stock in a transaction on Wednesday, August 28th. The stock was 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 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 position. The disclosure for this sale can be found here. Insiders sold 829,852 shares of company stock worth $2,528,252 in the last quarter. 31.80% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Report on NVTS
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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