Streetbeat News

NVTS

Navitas Semiconductor Corporation

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

2.20

Mkt cap

404M

Volume

549K

High

2.27

P/E Ratio

-5.12

52-wk high

8.44

Low

2.18

Div yield

N/A

52-wk low

2.14

In Thursday's after-market session, several information technology stocks showed significant movement. Inseego, Actelis Networks, WaveDancer, Signing Day Sports, Gen Digital, and Aware were among the gainers, with Inseego leading by a 15.4% increase after announcing Q1 earnings. Conversely, Applied Optoelectronics, Navitas Semiconductor, Evolv Technologies, Akamai Technologies, JFrog, and Arlo Technologies experienced declines, with Applied Optoelectronics dropping 21.7% following their Q1 earnings release.

Portfolio Pulse from Benzinga Insights

May 09, 2024 | 8:30 pm

Navitas Semiconductor (NASDAQ:NVTS) reported Q1 2024 earnings with an adjusted EPS of $(0.06), missing the $(0.05) estimate, but sales of $23.175M exceeded the $22.929M forecast. This represents a 14.29% decrease in losses per share and a 73.49% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:23 pm

Wall Street experienced gains with major indices in the green, driven by an unexpected rise in unemployment claims, fueling speculation of Federal Reserve interest rate cuts. The U.S. dollar fell, and gold rallied. Notable stock movements included Equinix Inc.'s 11% rise after beating funds from operation results, while Roblox Corp. saw a significant drop of 21.1%. ETFs like the SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF also saw increases.

Portfolio Pulse from Piero Cingari

May 09, 2024 | 4:42 pm

Wall Street anticipates a weaker opening due to rate concerns and awaits earnings reports and a Fed speech. The SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw premarket declines. Positive contributions from Amgen, Inc. and Boeing Co. helped the Dow Jones Industrial Average, while the Nasdaq Composite and S&P 500 Index closed modestly lower. Analysts highlight risks from reduced personal savings and suggest a cautious investment approach amid uncertain market conditions. Several companies reported earnings, influencing stock movements.

Portfolio Pulse from Shanthi Rexaline

May 09, 2024 | 11:27 am

Earnings reports and a dovish Federal Reserve stance lifted stocks last week, with Apple and Amazon leading the charge. FactSet reports 80% of S&P 500 companies have exceeded earnings expectations. This week, attention turns to Disney, Palantir, Robinhood, and Reddit's debut report. The SPDR S&P 500 ETF Trust and Invesco QQQ Trust saw gains, reflecting positive market sentiment.

Portfolio Pulse from Shanthi Rexaline

May 06, 2024 | 9:25 am

Navitas Semiconductor (NASDAQ:NVTS) has seen varied analyst ratings over the last quarter, with a total of 4 bullish ratings. The average 12-month price target for NVTS has been adjusted to $11.25, up from $11.00, with a high estimate of $12.00 and a low of $9.00. Analysts from Rosenblatt and Needham have maintained and lowered their price targets respectively, reflecting a nuanced view on NVTS's market position. Despite challenges in profitability and efficiency, NVTS has demonstrated significant revenue growth, outpacing industry averages with a 111.0% increase as of December 31, 2023.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 3:00 pm

Rosenblatt analyst Kevin Cassidy has reiterated a Buy rating on Navitas Semiconductor (NASDAQ:NVTS) and maintained a $12 price target on the stock.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 1:18 pm

Navitas Semiconductor (NASDAQ:NVTS) announced its participation in the China Electronic Hotspot Solutions Innovation Summit in Shenzhen on April 27th, 2024. The company will showcase its advancements in GaNFast gallium nitride (GaN) and GeneSiC silicon carbide (SiC) power semiconductors, focusing on applications in electric vehicles (EVs) such as 800 V supercharging and battery management. Navitas aims to introduce more efficient, smaller, and lighter on-board charging solutions for EVs through its keynote. The summit will feature discussions on technological trends in the new energy industry and provide a platform for Navitas to exhibit its latest products and solutions optimized for EVs.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 12:41 pm

Teledyne Technologies shares fell by 9% after reporting disappointing Q1 financial results and cutting FY24 EPS guidance. Other stocks showed significant movement, with notable gainers including Chicken Soup for the Soul Entertainment and BranchOut Food, and losers like Neo-Concept International and iSun.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 5:57 pm

Hilton Worldwide Holdings Inc. reported better-than-expected Q1 financial results, leading to a 5.7% stock increase. Other companies like B. Riley Financial, MMTec, Ribbon Communications, Hasbro, Tesla, Vertiv Holdings, and several more also saw significant gains following positive financial results, guidance updates, or other favorable news.

Portfolio Pulse from Avi Kapoor

April 24, 2024 | 3:19 pm

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