Navitas Semiconductor Corp reports results for the quarter ended June 30 - Earnings Summary

• Navitas Semiconductor Corp NVTS.OQ reported a quarterly adjusted loss of 5 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -7 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 -5 cents to -4 cents per share.

• Revenue fell 29.2% to $14.49 million from a year ago; analysts expected $14.38 million.

• Navitas Semiconductor Corp's reported EPS for the quarter was a loss of 25 cents​.

• The company reported a quarterly loss of $49.08 million.

• Navitas Semiconductor Corp shares had risen by 21.5% this quarter and gained 123.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 2.2% 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 5 "strong buy" or "buy," 3 "hold" and 1 "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 $4.30, about 85.1% below its last closing price of $7.96

This summary was machine generated from LSEG data August 4 at 09:01 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)