Despite a 78% YTD drop, NVTS' strong growth prospects and attractive valuation suggest that the stock can be an attractive pick right now.
The heavy selling pressure might have exhausted for Navitas Semiconductor (NVTS) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
Navitas Semiconductor Corporation (NASDAQ:NVTS ) Q3 2024 Earnings Conference Call November 5, 2024 5:00 PM ET Company Participants Stephen Oliver - Vice President, Corporate Marketing and Investor Relations Gene Sheridan - Co-Founder and Chief Executive Officer Todd Glickman - Interim Chief Financial Officer and Treasurer Conference Call Participants Kevin Cassidy - Rosenblatt Shadi Mitwalli - Needham Tyler Bomba - Baird Joseph Moore - Morgan Stanley Jack Egan - Charter Equity Research Jon Tanwanteng - CJS Securities Richard Shannon - Craig-Hallum Operator Hello and thank you for standing by. At this time, I would like to welcome you to the Navitas Semiconductor Q3 '24 Earnings Conference Call.
Navitas Semiconductor Corporation (NVTS) came out with a quarterly loss of $0.06 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.04 per share a year ago.
Navitas is down -74% from its IPO price in late 2021, despite GaN chip technology that is gaining traction in a variety of digital-to-power applications. Smart phone, AI datacenter, EV auto, and solar power technologies do perform better with Navitas semiconductors inside. Trading at low price to sales and book value ratios, the stock is now quite undervalued if rapid growth returns in 2025.
Navitas Semiconductor is suffering from stretched valuations and macroeconomic uncertainties despite an expanding portfolio.
NEW YORK, NY / ACCESSWIRE / September 30, 2024 / The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who own Navitas Semiconductor Inc. ("NVTS" or the "Company") (NASDAQ:NVTS) stock purchased prior to October 9, 2021. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the acquisition of the company, then known as Live Oak Acquisition Corp. II (LOKB), and whether the Board of NVTS harmed stockholders, and whether all material facts had been properly disclosed to stockholders.
NEW YORK, NY / ACCESSWIRE / September 25, 2024 / The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who own Navitas Semiconductor Inc. ("NVTS" or the "Company") (NASDAQ:NVTS) stock purchased prior to October 9, 2021. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the acquisition of the company, then known as Live Oak Acquisition Corp. II (LOKB), and whether the Board of NVTS harmed stockholders, and whether all material facts had been properly disclosed to stockholders.
NEW YORK, NY / ACCESSWIRE / September 27, 2024 / The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who own Navitas Semiconductor Inc. ("NVTS" or the "Company") (NASDAQ:NVTS) stock purchased prior to October 9, 2021. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the acquisition of the company, then known as Live Oak Acquisition Corp. II (LOKB), and whether the Board of NVTS harmed stockholders, and whether all material facts had been properly disclosed to stockholders.
NEW YORK, NY / ACCESSWIRE / September 27, 2024 / The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who own Navitas Semiconductor Inc. ("NVTS" or the "Company") (NASDAQ:NVTS) stock purchased prior to October 9, 2021. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the acquisition of the company, then known as Live Oak Acquisition Corp. II (LOKB), and whether the Board of NVTS harmed stockholders, and whether all material facts had been properly disclosed to stockholders.
NEW YORK, NY / ACCESSWIRE / September 24, 2024 / The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who own Navitas Semiconductor Inc. ("NVTS" or the "Company") (NASDAQ:NVTS) stock purchased prior to October 9, 2021. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the acquisition of the company, then known as Live Oak Acquisition Corp. II (LOKB), and whether the Board of NVTS harmed stockholders, and whether all material facts had been properly disclosed to stockholders.
NEW YORK, NY / ACCESSWIRE / September 23, 2024 / The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who own Navitas Semiconductor Inc. ("NVTS" or the "Company") (NASDAQ:NVTS) stock purchased prior to October 9, 2021. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the acquisition of the company, then known as Live Oak Acquisition Corp. II (LOKB), and whether the Board of NVTS harmed stockholders, and whether all material facts had been properly disclosed to stockholders.