Navitas Semiconductor (NASDAQ:NVTS – Get Rating) announced its quarterly earnings results on Thursday. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08), MarketWatch Earnings reports. The company had revenue of $6.70 million for the quarter, compared to analyst estimates of $6.51 million. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.27) earnings per share. Navitas Semiconductor updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.
Shares of NVTS stock traded up $0.86 on Friday, reaching $6.67. 1,532,700 shares of the company were exchanged, compared to its average volume of 768,536. The firm has a 50-day simple moving average of $8.29. The company has a debt-to-equity ratio of 0.06, a current ratio of 27.16 and a quick ratio of 26.04. Navitas Semiconductor has a one year low of $5.34 and a one year high of $22.19.
A number of analysts recently weighed in on NVTS shares. Craig Hallum decreased their price objective on Navitas Semiconductor from $20.00 to $10.00 in a report on Friday. Zacks Investment Research upgraded Navitas Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, April 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on Navitas Semiconductor from $13.00 to $9.00 in a report on Friday. Rosenblatt Securities started coverage on Navitas Semiconductor in a report on Wednesday, February 23rd. They issued a “buy” rating and a $15.00 price objective for the company. Finally, CJS Securities started coverage on Navitas Semiconductor in a report on Monday, March 28th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $16.57.
About Navitas Semiconductor (Get Rating)
Navitas Semiconductor Corporation designs, develops, and sells gallium nitride (GaN) power integrated circuits in China, the United States, Taiwan, Korea, and internationally. The company was incorporated in 2013 and is based in Dublin, Ireland.
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