Over 2 Years Ago
1 Min Read
Off goes NVTS. The stock surged today. Lets find out what's happening:
Shares of Navitas Semiconductor Corp (NVTS) are trading 21% higher at a price of $7.46 at the time of this writing. The stock is rocketing past other companies in a rather down day for the IT sector. The share price is being affected by a mix of factors:
1. Needham & Company raised Navitas Semiconductor's PT to $8.
2. Deutsche Bank maintained Navitas Semiconductor's PT at $7.50.
3. Navitas Semiconductor Corporation (NVTS) CEO Gene Sheridan stated that the company is expecting a revenue growth of 58% in their Q2 2022 earning conference call transcript.
4. Navitas Semiconductor acquired silicon carbide manufacturer GeneSiC Semiconductor in a cash-and-stock deal consisting of ~$100M in cash and 24.9M shares of common stock valued at $650M on Monday .
5. In their press release for Q2, Non-GAAP EPS was reported as -$0.07 and revenue was reported as $8,610,000 (+58% Y/Y). Shares increased 5%.
Navitas Semiconductor Corp has been trading between a 52-week high of $22.19 and a 52-week low of $3.51, and is currently trading in the bottom third of that range. The stock has a market cap of $870 Million.
Navitas Semiconductor is the industry leader in GaN power ICs, founded in 2014. GaN power ICs integrate GaN power with drive, control and protection to enable faster charging, higher power density and greater energy savings for mobile, consumer, enterprise, eMobility and new energy markets. Over 130 Navitas patents are issued or pending, and over 30 million GaNFast power ICs have been shipped with zero reported GaN field failures.
1. Needham & Company raised Navitas Semiconductor's PT to $8.
2. Deutsche Bank maintained Navitas Semiconductor's PT at $7.50.
3. Navitas Semiconductor Corporation (NVTS) CEO Gene Sheridan stated that the company is expecting a revenue growth of 58% in their Q2 2022 earning conference call transcript.
4. Navitas Semiconductor acquired silicon carbide manufacturer GeneSiC Semiconductor in a cash-and-stock deal consisting of ~$100M in cash and 24.9M shares of common stock valued at $650M on Monday .
5. In their press release for Q2, Non-GAAP EPS was reported as -$0.07 and revenue was reported as $8,610,000 (+58% Y/Y). Shares increased 5%.
Navitas Semiconductor Corp has been trading between a 52-week high of $22.19 and a 52-week low of $3.51, and is currently trading in the bottom third of that range. The stock has a market cap of $870 Million.
Navitas Semiconductor is the industry leader in GaN power ICs, founded in 2014. GaN power ICs integrate GaN power with drive, control and protection to enable faster charging, higher power density and greater energy savings for mobile, consumer, enterprise, eMobility and new energy markets. Over 130 Navitas patents are issued or pending, and over 30 million GaNFast power ICs have been shipped with zero reported GaN field failures.
Recommended Articles
