Transphorm (OTCMKTS:TGAN) Posts Quarterly Earnings Results, Meets Expectations

Transphorm (OTCMKTS:TGAN – Get Rating) issued its quarterly earnings results on Tuesday. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08), MarketWatch Earnings reports.

OTCMKTS TGAN traded down $0.44 on Wednesday, reaching $5.46. 83,023 shares of the company were exchanged, compared to its average volume of 51,117. The business’s fifty day moving average price is $6.96 and its 200 day moving average price is $7.09. The stock has a market capitalization of $291.32 million, a P/E ratio of -20.22 and a beta of -1.30. The company has a current ratio of 7.65, a quick ratio of 6.75 and a debt-to-equity ratio of 0.33. Transphorm has a fifty-two week low of $3.26 and a fifty-two week high of $9.14.

Separately, B. Riley lowered their price objective on Transphorm from $10.00 to $9.00 in a research note on Wednesday.

Several institutional investors have recently made changes to their positions in the company. Worth Venture Partners LLC acquired a new position in shares of Transphorm in the 1st quarter valued at $4,307,000. Jane Street Group LLC acquired a new position in Transphorm during the 1st quarter worth about $85,000. Polar Asset Management Partners Inc. acquired a new position in Transphorm during the 1st quarter worth about $6,133,000. Royal Bank of Canada acquired a new position in Transphorm during the 1st quarter worth about $54,000. Finally, Goldman Sachs Group Inc. acquired a new position in Transphorm during the 1st quarter worth about $135,000.

About Transphorm (Get Rating)

Transphorm, Inc develops, manufactures, and sells gallium nitride (GaN) semiconductor components used in power conversion in Mainland China, Hong Kong, Taiwan, the United States, Japan, South Korea, and Europe. Its GaN devices allows customers to design smaller, lighter, and cooler power systems creating increased functional value in end products, including smartphone power adapters/fast-chargers, power supplies for datacenter servers/communication, industrial power converters, and chargers/converters/inverters for electric vehicles.

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