TORRANCE, Calif., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS) the only pure-play, next-generation, power semiconductor company and industry leader in gallium nitride (GaN) power ICs and silicon carbide (SiC) technology,  today announced that Dr. Ranbir Singh, formerly Executive Vice President at Navitas and the founder and CEO of GeneSiC Semiconductor, has been appointed to Navitas’ board of directors.  “We are pleased to welcome Ranbir to the board of directors,” said Gene Sherid ...

Last August, I initiated my coverage on Navitas Semiconductor (NASDAQ: NVTS ) with a buy rating due to its leading technological position in the emerging GaN power semiconductor industry. While the stock is down 11% since myAs a former managing editor at a financial media publication focused on mid and small caps, I am using my experience to present investment opportunities in undervalued companies. My experience, combined with my academic background in financial markets and institutions, allows me to bring ...

TORRANCE, Calif., Nov. 26, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor, the only pure-play, next-generation power semiconductor company and industry leader in gallium nitride (GaN) power ICs and silicon carbide (SiC) technology, has announced participation in the upcoming investor conferences listed below. MESH Ventures Investor Call (virtual):Monday 2nd December at 7pm Pacific / 10pm EST (USA), Tuesday December 3rd at 11am TST (GMT+8) with Gene Sheridan, CEO, and Todd Glickman, CFO.Hosted by MESH Managi ...

TORRANCE, Calif., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS) has announced that the company’s revenue growth has been acknowledged for the third consecutive year, by Deloitte’s Technology Fast 500™. Navitas growth was driven by strong demand for its advanced, high-efficiency, wide-bandgap gallium nitride (GaN) and silicon carbide (SiC) power components, across a growing number of global markets and customers. Now in its 30th year, the Deloitte Technology Fast 500 provides a rank ...

Navitas Semiconductor (NVTS) shares have plunged 77.9% year to date (YTD), underperforming the broader Zacks Computer and Technology sector’s return of 25.7%.Over the same time frame, it has also underperformed the Zacks Electronics- Semiconductors industry and its competitors like Broadcom (AVGO) , Astera Labs (ALAB) and Cirrus Logic (CRUS) . On a YTD basis, shares of AVGO, ALAB and CRUS have returned 47.7%, 39.4% and 21.1%, respectively. The industry appreciated 32.1% in the same time frame.This underperf ...

TORRANCE, Calif., Nov. 14, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS) the only pure-play, next-generation power semiconductor company and industry leader in gallium nitride (GaN) power ICs and silicon carbide (SiC) technology,  today announced participation in the upcoming Roth conference in New York.  13th Annual Roth Technology ConferenceNovember 19th & 20th 20251-on-1 meetings with Todd Glickman, CFO, and Stephen Oliver, VP Investor Relations.Hard Rock Hotel New York – 159 W 48th St, ...

Navitas Semiconductor Corporation (NVTS) has been on a downward spiral lately with significant selling pressure. After declining 25.1% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spot ...

LAFOX, Ill. and TORRANCE, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (Nasdaq: RELL) and Navitas Semiconductor (Nasdaq: NVTS) announced today an expanded distribution partnership for next-gen silicon carbide (SiC) power semiconductors for Europe, the Middle East, and Africa (EMEA). Navitas is the only pure-play, next-generation power-semiconductor company and industry leader in next-generation GeneSiC™ silicon carbide (SiC) and GaNFast™ gallium nitride (GaN) power semiconductors. ...

TORRANCE, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the only pure-play, next-generation power semiconductor company and industry leader in gallium nitride (GaN) power ICs and silicon carbide (SiC) technology, has announced the world’s first 8.5 kW power supply unit (PSU), powered by GaN and SiC technologies to achieve 98% efficiency, for next-generation AI and hyperscale data centers. The AI-optimized 54V output PSU complies with Open Compute Project (OCP) and Open Rack ...

Financial Data and Key Metrics - Q3 2024 revenue was $21.7 million, flat YoY but a 6% sequential increase [9][30] - Gross margin for Q3 2024 was 40.1%, down from 42.1% in Q3 2023 due to strong mobile market mix [31] - Operating expenses for Q3 2024 were $21.4 million, with SG&A at $9.9 million and R&D at $11.6 million [32] - Q3 2024 operating loss was $12.7 million [32] - Cash and cash equivalents at quarter-end were $99 million with no debt [33] - Q4 2024 revenue guidance is $18-20 million, with gross margin expected to be around 40% [34][35] Business Line Performance - Mobile business hit an all-time record in Q3 2024, with 26 new design wins, including 3 Tier-1 OEM wins [21] - AI and enterprise data centers saw a new 8.5 kW AI power supply design, with data center revenue starting in Q3 and expected to ramp through 2025 [16][17] - EV segment secured 6 new design wins in Q3, including onboard and roadside chargers, with over 200 active projects [19][20] - Appliance and industrial pipeline added 30 new design wins in Q3, ranging from vacuum cleaners to multi-kilowatt power supplies [22] - Solar and energy segment added 10 new design wins, including a multimillion-dollar win with Generac [22] Market Performance - AI data centers are a key focus, with new low-voltage GaN technology complementing existing high-voltage GaN solutions [17][18] - EV market continues to grow, with new low-voltage GaN technology expected to fit well with 48V battery EV applications [20] - Mobile and consumer market remains strong, with GaNSlim ICs driving design wins and expected multimillion-dollar revenue ramps in Q2 2025 [21] - Solar microinverters are on track for a significant ramp in mid-2025, with new low-voltage GaN providing additional opportunities [23] Strategic Direction and Industry Competition - Company announced a new low-voltage GaN technology optimized for 48V systems, creating a $1 billion market opportunity [12] - Strategic partnership with Infineon to create common GaN specifications, providing dual sourcing options for customers [13] - Focus on AI data centers, mobile, and EV markets, with technologies developed for these markets expected to cross-sell into industrial, appliance, and solar markets [25][26] - Streamlining operations with a 14% headcount reduction and $2 million quarterly OpEx savings, aiming for profitability [24][36] Management Commentary on Operating Environment and Future Outlook - Management noted softness in some end markets and customer project delays, leading to a muted outlook for the next few quarters [26] - Despite near-term challenges, the company expects solid growth to resume later in 2025, driven by a $1.6 billion customer pipeline and design win momentum [27] - New low-voltage GaN technology, Infineon partnership, and organizational efficiency improvements are expected to drive growth and profitability [27] Other Important Information - Company has over 300 patents granted or pending, strengthening its competitive advantage [15] - New low-voltage GaN technology will start sampling this quarter, with first customer designs expected to ramp in H2 2025 [19] - Company is focusing on working capital improvements, with inventory reduced to $21 million from $25 million in the prior quarter [33][34] Q&A Session Summary Question: Dual sourcing agreement with Infineon and IP licensing - The agreement includes a broad-based cross-license, allowing both companies to collaborate without patent conflicts [39] - Dual sourcing is driven by customer demand for supply chain risk reduction and faster adoption of GaN technology [39][40] Question: Gross margin guidance and market mix - Flat gross margin guidance for Q4 is due to strong mobile market performance offsetting muted growth in higher power markets [44] Question: Automotive market trends - EV market is showing signs of recovery, with increased design wins in onboard and roadside chargers [45][46] Question: Silicon carbide market and channel inventory - Channel inventory for silicon carbide is decreasing, with growth expected to resume in 2025 [48] - High-voltage GaN could eventually displace silicon carbide, but cost-effectiveness and reliability remain key factors [49] Question: Restructuring and market focus - Restructuring includes a 14% headcount reduction and $2 million quarterly savings, with a focus on AI data centers, mobile, and EV markets [51] - Technologies developed for these markets will also benefit adjacent markets like industrial, solar, and energy storage [51] Question: Pricing and competition - Market softness has led to more aggressive pricing, but the company has improved cost structures to maintain competitiveness [52] Question: Low-voltage GaN in data centers - GaN is making inroads in 48V data center applications, with potential to push efficiency and frequency beyond traditional silicon levels [54] Question: Liquid cooling in data centers - Liquid cooling is seen as necessary to support higher power levels in AI processors, driving demand for efficient power semiconductors [56] Question: Infineon partnership and revenue expectations - The partnership focuses on low-voltage GaN for AI data centers, with sampling starting this quarter and production ramps expected in late 2025 [70] Question: Solar market focus - While solar remains a niche market, the company sees opportunities in solar microinverters with bidirectional GaN technology [67][68] Question: Smartphone market trends - The company is seeing growth in entry-level smartphones with higher charging power, particularly in emerging markets [64]