Navitas Semiconductor Corp
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Range $12.6 – $21
Price Chart
About the company
Navitas Semiconductor Corporation designs, develops, and markets power semiconductors in the United States, Europe, China, rest of Asia, and internationally. The company offers gallium nitride power integrated circuits, silicon carbide power devices, silicon system controllers, and digital isolators for power conversion and charging. Its products are used in automotive, data center, mobile, consumer electronics markets, and various other applications.
- CEO
- Chris Allexandre
- IPO
- 2021
- Employees
- 190
- HQ
- Torrance, CA, US
AI snapshot
Six angles, distilled from the data.
The stock is in a long recovery phase but still below its 50-day average, so the intermediate trend has not fully confirmed. It remains well above the 200-day average and far off the 52-week high, which keeps the setup constructive but still volatile.
Street sentiment is mixed but leans cautious, with a Hold consensus and a $16.65 target versus a $14.64 share price. Recent target cuts from Morgan Stanley to $12.60 and Jefferies to $13 offset earlier raises to $20-$21 from Baird and Needham, showing conviction is split.
The company has beaten EPS in 4 of the last 8 quarters, including the last three reports by 20.0%, 20.0%, and 5.5%. Next-year EPS is still expected at -0.126, so shareholders should watch whether revenue stabilization can narrow losses and sustain the recent beat streak.
Insider activity is net selling, led by large discretionary sales from the CEO and two directors in late May. The award and vesting entries are noise, but the size of the open-market sales points to limited insider confidence near recent trading levels.
Profitability remains weak, with a -2.5497 operating margin, -52.6% ROE, and -8.99% ROA. Revenue is still down 27.3% year over year, but gross margin holds at 38.1% and the balance sheet is strong with $236.9 million in cash against $6.5 million of debt.
NVTS trades as a high-beta semiconductor name with a cleaner balance sheet than many peers, but it still lacks earnings power. Versus the sector, the valuation is more about future growth optionality than current fundamentals, with negative EPS and a premium-risk profile.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $3.28B
- P/E
- -9.43
- Fwd P/E
- 35.85
- PEG
- 0.08
- P/S
- 89.67
- P/B
- 3.69
- EV/EBITDA
- -27.20
- Div Yield
- 0.00%
- Gross Margin
- -1.70%
- Op Margin
- -270.24%
- Net Margin
- -856.86%
- ROE
- -61.50%
- ROIC
- -12.24%
Latest fiscal year · YoY change
- Revenue
- $45.92M-44.9%
- Gross Profit
- $14.25M-49.7%
- Op Income
- $-87,253,000
- Net Income
- $-116,953,000-38.2%
- EPS
- $-0.57-23.9%
- OCF Growth
- +27.1%
- FCF Growth
- +32.4%
- 52W High
- $34.17
- 52W Low
- $5.44
- 50D MA
- $15.28
- 200D MA
- $12.76
- Beta
- 3.88
- RSI (14)
- 45
- Avg Volume
- 22.68M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Navitas reported strong sequential growth and better-than-expected Q3 guidance as it accelerates its shift to a high-power, AI-infrastructure-focused business.· July 27, 2026
- Q2 revenue rose 22% sequentially to $10.5 million, with high-power markets up more than 50% year over year.
- Gross margin improved to 39.5%, up 50 basis points sequentially and 100 basis points year over year.
- Q3 guidance calls for revenue of $13.5 million, plus or minus $0.5 million, and non-GAAP gross margin of 39.7%, plus or minus 100 basis points.
- Management said mobile and low-end consumer should become insignificant by year-end, while AI infrastructure should be more than one-third of sales.
- The company ended Q2 with $557 million of cash and no debt after raising about $373 million during the quarter.
Second-quarter 2026 revenue was $10.5 million, up 22% sequentially from $8.6 million in Q1. Non-GAAP gross margin was 39.5%, up 50 basis points sequentially and 100 basis points year over year. Non-GAAP operating expenses were $15.5 million, and the company reported a non-GAAP loss per share of $0.04 versus $0.04 in Q1 and $0.05 in the year-ago quarter. For Q3 2026, Navitas expects revenue of $13.5 million, plus or minus $0.5 million, with non-GAAP gross margin of 39.7%, plus or minus 100 basis points, and non-GAAP OpEx of $15.5 million to $17.5 million. The company said full-year revenue should grow mid-single digits and return to year-over-year growth in Q3.
Chris Allexandre framed the quarter as evidence that Navitas 2.0 is nearly complete and that the company is now transitioning from transformation to execution. He emphasized that growth is being driven by AI infrastructure, with multiple hyperscalers, merchant power customers, and programs across AC/DC, DC/DC, BBUs, and later 800V architectures. His tone was upbeat and confident, and he repeatedly argued that having both GaN and SiC gives Navitas an advantage across the different inflection points in AI data center power architectures.
Tonya Stevens highlighted that revenue came in at the high end of guidance, rising $1.9 million sequentially to $10.5 million. She said gross margin expanded to 39.5% from better mix and scale, while OpEx was $15.5 million and is now expected to rise by about $1.0 million to $1.5 million per quarter starting in Q3, or roughly 10%, to fund R&D and customer support. She also noted cash and cash equivalents of $557 million at quarter-end, up from $221 million in Q1 after raising about $373 million at an average stock price of $21.89, with no debt and inventory rising to $19.5 million as the company builds wafer buffers for customer transitions.
Analysts pressed management on whether 800V AI data center architectures are being delayed, and Chris said no change to the outlook, arguing that Navitas benefits from multiple inflection points and multiple customers rather than one program. Questions also focused on the new SiC JFET line, where management said it targets AI data centers and grid/energy infrastructure, including protection applications like eFuses, ORing, and solid-state circuit breakers, and could add nearly $1 billion of incremental SAM by 2030. On the Magnachip license deal, Chris said it is primarily about expanding Navitas’ SAM and creating a future foundry/source option, not just near-term licensing revenue; he also declined to comment on litigation specifics but portrayed the Wolfspeed and Renesas lawsuits as part of a broader competitive fight.
The positive case is that Navitas is seeing real sequential momentum, with revenue, gross margin, backlog, and book-to-bill all supporting management’s expectation for continued double-digit quarterly growth in the second half. Management believes the business is rapidly re-anchoring around AI infrastructure, where multiple product cycles and architectures could expand content over time. A large cash balance and no debt also give the company flexibility to fund growth initiatives, capacity, and strategic partnerships.
The main risks are that the company remains small and still depends on a relatively narrow set of growth drivers, with mobile and low-end consumer declining faster than expected. Management acknowledged rising OpEx as it invests in product development and customer support ahead of ramps, which could pressure profitability if revenue execution slips. There is also uncertainty around timing and adoption of 800V architectures, as well as ongoing litigation with Wolfspeed and Renesas, which management said it could not discuss in detail.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 86.6%
- Shares Outstanding
- 261.09M
- Float Shares
- 226.13M
of shares held by institutions
313 13F filers
Buy/sell ratio 0.75. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 16.24M | ▼ 420.77K |
| Vanguard Group Inc | 14.69M | ▲ 1.33M |
| D. E. Shaw & Co., Inc. | 9.58M | ▲ 5.82M |
| Vanguard Capital Management LLC | 9.00M | ▲ 327.51K |
| State Street Corp | 8.21M | ▼ 439.91K |
| Capricorn Investment Group LLC | 7.13M | ▼ 858.41K |
| Goldman Sachs Group Inc | 6.72M | ▲ 3.18M |
| Jane Street Group, LLC | 6.48M | ▲ 4.93M |
| Geode Capital Management, LLC | 5.04M | ▼ 46.87K |
| Connor, Clark & Lunn Investment Management Ltd. | 4.22M | ▲ 2.41M |
| Citadel Advisors LLC | 3.06M | ▲ 471.40K |
| Two Sigma Investments, LP | 2.75M | ▲ 2.32M |
Held by 234 ETFs
Biggest fund positions in NVTS by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jul 31, 26 | Saluja Dipender | other | 951 |
| May 9, 26 | Saluja Dipender | other | 864 |
| May 27, 26 | Allexandre Chris | sell | 13,323 |
| May 27, 26 | Singh Ranbir | sell | 3,060,118 |
| May 28, 26 | Singh Ranbir | sell | 664,058 |
| May 18, 26 | Wunderlich Gary Kent JR | other | 1,147,225 |
| May 28, 26 | Wunderlich Gary Kent JR | sell | 35,165 |
| May 28, 26 | Wunderlich Gary Kent JR | sell | 73,000 |
| May 18, 26 | HENDRIX RICHARD J | other | 1,147,225 |
| May 28, 26 | HENDRIX RICHARD J | sell | 35,165 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our NVTS coverage
Recent articles, reports, and earnings notes.

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AI analysis · Last refreshed August 17, 2026 · Live quote · Not investment advice