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0.00130039011703508 0.00130039011703508 -0.00130039011703508 0.0351235370611184 0.00195058517555274 -0.000650195058517541 -0.0254356306892067 -0.0513654096228868
Stock impact report

Navitas (NVTS) Falls 14.6% as Earnings Disappoint [Yahoo! Finance]

Navitas Semiconductor Corporation (NVTS) 
Company Research Source: Yahoo! Finance
Navitas fell for a second day on Tuesday, shedding 14.61 percent to close at $10.46 apiece after a dismal earnings performance in the third quarter of the year. In a statement, Navitas Semiconductor Corp. (NASDAQ:NVTS) said it widened its net loss by 2.7 percent to $19.2 million from $18.7 million in the same period last year, on the back of lower revenues. Total revenues declined by 53 percent to $10 million from $21.68 million year-on-year. Navitas (NVTS) Falls 14.6% as Earnings Disappoint For the fourth quarter of the year, Navitas Semiconductor Corp. (NASDAQ:NVTS) said it expects net revenues to settle at $7 million, plus or minus $250,000 due the company's strategic decision to deprioritize low power, lower profit China mobile and consumer business, as well as streamline distribution network and reduce channel inventory to pivot to higher power revenue and customers. “We are executing a strategic pivot from consumer and mobile markets to these fast-growing, more profit Show less Read more
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