Navitas Semiconductor Analysts Cut Their Forecasts After Q2 Results
Portfolio Pulse from Avi Kapoor
Navitas Semiconductor (NASDAQ:NVTS) reported mixed Q2 results, with a loss per share of 7 cents missing estimates but sales of $20.468 million beating expectations. Despite positive comments from the CEO, the company's Q3 revenue guidance fell short of market estimates, leading to a 6.2% drop in share price. Analysts from Rosenblatt and Needham maintained Buy ratings but lowered their price targets.
August 06, 2024 | 12:28 pm
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Navitas Semiconductor reported mixed Q2 results, missing EPS estimates but beating sales expectations. The company's Q3 revenue guidance fell short of market estimates, leading to a 6.2% drop in share price. Analysts from Rosenblatt and Needham maintained Buy ratings but lowered their price targets.
The mixed Q2 results, combined with lower-than-expected Q3 revenue guidance, have negatively impacted investor sentiment, leading to a 6.2% drop in share price. Analysts' decision to maintain Buy ratings but lower price targets indicates cautious optimism but acknowledges near-term challenges.
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