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Navitas Semiconductor (NVTS) Moves 20.6% Higher: Will This Strength Last?
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Navitas Semiconductor Corporation (NVTS - Free Report) shares ended the last trading session 20.6% higher at $15.16. 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 113.4% gain over the past four weeks.
The upswing was driven by an update on its collaboration with Nvidia, confirming substantial progress in developing Gallium Nitride (GaN) and Silicon Carbide (SiC) power chips for Nvidia's next-gen AI data center platforms, validating its role in the AI boom.
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 +16.7%. Revenues are expected to be $10.1 million, down 53.4% 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, 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, Synaptics (SYNA - Free Report) , finished the last trading session 4.4% higher at $69.64. SYNA has returned -7.9% over the past month.
For Synaptics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.06. This represents a change of +30.9% from what the company reported a year ago. Synaptics currently has a Zacks Rank of #3 (Hold).
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Navitas Semiconductor (NVTS) Moves 20.6% Higher: Will This Strength Last?
Navitas Semiconductor Corporation (NVTS - Free Report) shares ended the last trading session 20.6% higher at $15.16. 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 113.4% gain over the past four weeks.
The upswing was driven by an update on its collaboration with Nvidia, confirming substantial progress in developing Gallium Nitride (GaN) and Silicon Carbide (SiC) power chips for Nvidia's next-gen AI data center platforms, validating its role in the AI boom.
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 +16.7%. Revenues are expected to be $10.1 million, down 53.4% 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, 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, Synaptics (SYNA - Free Report) , finished the last trading session 4.4% higher at $69.64. SYNA has returned -7.9% over the past month.
For Synaptics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.06. This represents a change of +30.9% from what the company reported a year ago. Synaptics currently has a Zacks Rank of #3 (Hold).