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Navitas Semiconductor (NVTS) Surges 24.7%: Is This an Indication of Further Gains?
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Navitas Semiconductor Corporation (NVTS - Free Report) shares ended the last trading session 24.7% higher at $8.47. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.1% loss over the past four weeks.
Navitas Semiconductor is benefiting from its innovative GaN and silicon carbide technologies, enabling advancements in AI data centers, EVs, solar microinverters, and energy storage systems.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of +28.6%. Revenues are expected to be $14.52 million, down 29.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Navitas Semiconductor, 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.
Navitas Semiconductor is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, Cirrus Logic (CRUS - Free Report) , finished the last trading session 1.2% higher at $104.63. CRUS has returned -0.9% over the past month.
Cirrus Logic's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.07. Compared to the company's year-ago EPS, this represents a change of -4.5%. Cirrus Logic currently boasts a Zacks Rank of #3 (Hold).
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Navitas Semiconductor (NVTS) Surges 24.7%: Is This an Indication of Further Gains?
Navitas Semiconductor Corporation (NVTS - Free Report) shares ended the last trading session 24.7% higher at $8.47. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.1% loss over the past four weeks.
Navitas Semiconductor is benefiting from its innovative GaN and silicon carbide technologies, enabling advancements in AI data centers, EVs, solar microinverters, and energy storage systems.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of +28.6%. Revenues are expected to be $14.52 million, down 29.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Navitas Semiconductor, 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 is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, Cirrus Logic (CRUS - Free Report) , finished the last trading session 1.2% higher at $104.63. CRUS has returned -0.9% over the past month.
Cirrus Logic's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.07. Compared to the company's year-ago EPS, this represents a change of -4.5%. Cirrus Logic currently boasts a Zacks Rank of #3 (Hold).