Navitas Semiconductor Corp (NASDAQ:NVTS) shares are soaring on Wednesday after it reported fourth‑quarter revenue that topped expectations and issued first‑quarter guidance above analyst estimates.
- Navitas Semiconductor stock is showing exceptional strength. Why are NVTS shares rallying?
Stronger‑Than‑Expected Results, Upbeat Guidance
Navitas posted a quarterly loss of 5 cents per share, in line with analyst expectations. Revenue came in at $7.30 million, beating the consensus estimate of $6.95 million by 5%.
For the first-quarter, the company expects revenue between $8.0 million and $8.5 million, well above the $7.345 million estimate.
“We closed out the …