Streetbeat News

NVTS

Navitas Semiconductor Corporation

https://navitassemi.com

Industry

Semiconductors

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.

Open

2.31

Mkt cap

467M

Volume

5M

High

2.56

P/E Ratio

-5.43

52-wk high

5.13

Low

2.28

Div yield

N/A

52-wk low

1.75

Craig-Hallum analyst Richard Shannon maintains a Buy rating on Navitas Semiconductor (NASDAQ:NVTS) but lowers the price target from $7.5 to $6.5.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 2:50 pm

Deutsche Bank analyst Ross Seymore maintains a Buy rating on Navitas Semiconductor (NASDAQ:NVTS) but lowers the price target from $7 to $6.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 2:34 pm

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.

Portfolio Pulse from Avi Kapoor

August 06, 2024 | 12:28 pm

Needham analyst Quinn Bolton maintains a Buy rating on Navitas Semiconductor (NASDAQ:NVTS) but lowers the price target from $7 to $5.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 11:33 am

Rosenblatt analyst Kevin Cassidy maintains a Buy rating on Navitas Semiconductor (NASDAQ:NVTS) but lowers the price target from $10 to $7.5.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 11:20 am

Navitas Semiconductor has announced its Q3 net revenue forecast to be between $21.5 million and $22.5 million, which is below the estimated $23.36 million.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 8:58 pm

Navitas Semiconductor (NASDAQ:NVTS) reported Q2 2024 adjusted EPS of $(0.07), missing the $(0.06) estimate, but achieved sales of $20.468M, beating the $20.013M estimate. Sales increased by 13.32% year-over-year.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 8:18 pm

US stocks are attempting to recover from early losses driven by global market volatility and a 13% drop in Japan's Nikkei 225. Positive US services sector data eased recession fears, reducing the likelihood of a significant Fed rate cut. Major indices like the S&P 500, Dow Jones, and Nasdaq 100 saw smaller declines by midday. Bond yields rose, and the iShares 20+ Year Treasury Bond ETF (TLT) remained unchanged. Key stock movers included Kellanova, BioNTech, The Carlyle Group, and Tyson Foods.

Portfolio Pulse from Piero Cingari

August 05, 2024 | 5:11 pm

Samsung has expanded the adoption of Navitas Semiconductor's GaNFast ICs from its flagship Galaxy S22, S23, and S24 to the mainstream Galaxy A, and revolutionary Galaxy Z Fold6 and Galaxy Z Flip6 smartphones. This expansion includes enhanced Galaxy AI features and new energy-saving technology.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 12:53 pm

The stock market is set to open sharply lower on Monday due to negative sentiment from last week. Nasdaq 100 futures are down over 4%, and the VIX has spiked over 100%. Berkshire Hathaway has trimmed its equity portfolio, including selling nearly half of its Apple shares. Tech stocks, particularly Nvidia, are showing notable weakness. Bitcoin has also plunged over 15%. The global sell-off is driven by recession fears and the unwinding of yen carry trades.

Portfolio Pulse from Shanthi Rexaline

August 05, 2024 | 11:51 am

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