Navitas Semiconductor Corp (NVTS) said after close Thursday that it lost $0.04 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $22 million, beating estimates by $978 thousand.
In the same quarter a year ago, the company lost $0.07 per share on revenue of $10.2 million.
The stock is up 8.08% to $6.15 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Navitas Semiconductor Corp a Bearish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 56. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Navitas Semiconductor Corp develops ultra-efficient gallium nitride (GaN) semiconductors that are revolutionizing power electronics. GaN power ICs integrate GaN power with drive, control, and protection to enable fast charging, high power density, and energy savings for mobile, consumer, enterprise, eMobility, and new energy markets.
News Home
Navitas Semiconductor Corp Up 8.08% To $6.15 After Earnings Beat
Mentioned in this article
