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Strength Seen in Navitas Semiconductor Corporation (NVTS): Can Its 5.2% Jump Turn into More Strength?

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Navitas Semiconductor Corporation (NVTS - Free Report) shares soared 5.2% in the last trading session to close at $7.31. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 14.5% gain over the past four weeks.

Navitas Semiconductor extended its rally, driven by growth strategy based on the diversification of technology, end-markets and geographical operations. In addition, increasing design and project wins in electric vehicle, data center and home appliance/industrial spaces are positives.

This company is expected to post quarterly loss of $0.08 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $12.34 million, up 83.1% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Navitas Semiconductor Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NVTS going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Navitas Semiconductor Corporation belongs to the Zacks Electronics - Semiconductors industry. Another stock from the same industry, nLight (LASR - Free Report) , closed the last trading session 6.7% higher at $10.18. Over the past month, LASR has returned -16.4%.

For nLight, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.17. This represents a change of -325% from what the company reported a year ago. nLight currently has a Zacks Rank of #3 (Hold).


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