Navitas Semiconductor Corp reports results for the quarter ended in December - Earnings Summary

Navitas Semiconductor

29/02/2024 22:01

* Navitas Semiconductor Corp  NVTS.OQ  reported a quarterly
adjusted loss of 4 cents​​ per share for the quarter ended in
December, higher than the same quarter last year, when the
company reported EPS of -6 cents.  The mean expectation of
nine analysts for the quarter was for a loss of 5 cents per
share. Wall Street expected results to range from -7 cents to -3
cents per share.
    * Revenue rose 111% to $26.06 million from a year ago;
analysts
expected $25.45 million. 
    * Navitas Semiconductor Corp's reported EPS for the quarter
was a
loss of 18 cents​.
    * The company reported a quarterly loss of $32.58 million.
    * Navitas Semiconductor Corp shares had fallen by 28.5% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 7 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the
semiconductors peer
group is also "buy"

Wall Street's median 12-month price target for Navitas
Semiconductor Corp is $10.00 
This summary was machine generated from LSEG data February 29 at
10:01 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      -0.05          -0.04          Beat
 Sep. 30 2023      -0.05          -0.04          Beat
 Jun. 30 2023      -0.07          -0.05          Beat
 Mar. 31 2023      -0.08          -0.07          Beat