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Navitas Semiconductor
(NASDAQ:NVTS)
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Rating:56Neutral
Price Target:
$13.50
▲(23.63% Upside)
Action:Reiterated
Date:08/19/26
NVTS scores as a mid-range risk/reward setup: the strongest driver is upbeat earnings-call guidance and improving non-GAAP margin outlook supported by a strong cash position, but the overall score is capped by weak financial performance (shrinking TTM revenue, sharp TTM margin deterioration, ongoing losses and cash burn). Technicals are mixed and valuation is unfavorable due to negative earnings and no dividend support.
Positive Factors
High-Power Market Transition
The shift away from mobile and toward AI infrastructure, data centers, grid and other high-power applications can improve growth quality and expand Navitas’ addressable market as GaN and SiC adoption increases.
Negative Factors
Persistent Losses and Cash Burn
Navitas has not yet demonstrated self-funding operations: revenue is shrinking, profitability remains deeply negative and cash flow is negative. Continued investment may require disciplined spending and could consume liquidity before scale benefits emerge.
Read all positive and negative factors
Positive Factors
Negative Factors
High-Power Market Transition
The shift away from mobile and toward AI infrastructure, data centers, grid and other high-power applications can improve growth quality and expand Navitas’ addressable market as GaN and SiC adoption increases.
Read all positive factors
Navitas Semiconductor (NVTS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.35B
Dividend YieldN/A
Average Volume (3M)17.98M
Price to Earnings (P/E)―
Beta (1Y)1.81
Revenue Growth-46.40%
EPS Growth-104.24%
CountryUS
Employees190
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-1.33
Shares Outstanding261,093,480
10 Day Avg. Volume12,720,613
30 Day Avg. Volume17,980,327
Financial Highlights & Ratios
PEG Ratio-0.52
Price to Book (P/B)3.31
Price to Sales (P/S)31.97
P/FCF Ratio-33.08
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$14.90Price Target Upside36.45% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)-0.15
Revenue Forecast (FY)$47.03M
Navitas Semiconductor Business Overview & Revenue Model
Company Description
Navitas Semiconductor (NVTS) is a power semiconductor company focused on next-generation power conversion and power management solutions. The company designs and sells wide-bandgap power devices and related power IC technologies—primarily gallium ...
How the Company Makes Money
Navitas makes money primarily by selling power semiconductor products to electronics manufacturers and their supply chains, generating revenue largely from product shipments recognized at the time of sale/transfer under customer purchase orders. I...
Navitas Semiconductor Earnings Call Summary
Earnings Call Date:Jul 27, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Positive
The call presents a predominantly positive operational and strategic picture: clear sequential and YoY growth in high-power markets, expanding gross margins, strong cash raise and a healthier backlog with upbeat guidance for Q3. Management detailed tangible product progress (GaN and SiC), strategic partnerships (Magnachip, GlobalFoundries), and a completed pivot toward high-power/AI infrastructure that supports a multi-year growth thesis. Key risks remain — the company is still non-profitable, Q2 GAAP results were heavily impacted by a large one-time earn-out charge, litigation from Wolfspeed and Renesas introduces uncertainty, and near-term growth depends on program qualifications, inventory builds and the multi-stage industry adoption of 800V architectures. On balance, the positives — momentum, balance sheet strength, product/partner progress and clear guidance for accelerating revenue — outweigh the lowlights.Positive Updates
Sequential Revenue Growth
Total revenue increased 22% sequentially to $10.5 million in Q2 2026 (from $8.6M in Q1), beating the high end of guidance and reflecting stronger traction in high-power markets.
Negative Updates
Continued Operating Losses
Non-GAAP loss from operations was $11.4 million in Q2 (vs. $11.7M in Q1); Q2 non-GAAP diluted loss per share was $0.04 (flat sequential, vs. $0.05 in prior year). The company remains unprofitable while investing to scale.
Read all updates
Q2-2026 Updates
Positive
Negative
Sequential Revenue Growth
Total revenue increased 22% sequentially to $10.5 million in Q2 2026 (from $8.6M in Q1), beating the high end of guidance and reflecting stronger traction in high-power markets.
Read all positive updates
Company Guidance
Navitas guided Q3 revenue of $13.5 million ± $0.5 million (about a 28% sequential increase from Q2's $10.5 million and a return to year‑over‑year growth), non‑GAAP gross margin of 39.7% ± 100 bps (vs. Q2 non‑GAAP 39.5%, which was +50 bps sequential and +100 bps YoY), and non‑GAAP operating expenses of $15.5M–$17.5M (reflecting a planned incremental OpEx increase of roughly $1.0M–$1.5M beginning in Q3, or ~10% higher quarter‑over‑quarter but meaningfully below expected revenue growth). Management expects continued double‑digit quarterly growth through the second half of 2026, mid‑single‑digit revenue growth for the full year, AI infrastructure to represent >1/3 of sales by year‑end, high‑power markets to be the majority of revenue (having grown >50% YoY), and noted a strengthened balance sheet with approximately $557 million cash at quarter end, inventory of $19.5 million and backlog/book‑to‑bill extending beyond 2026.Navitas Semiconductor Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
30
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.53M | 45.92M | 83.30M | 79.46M | 37.94M | 23.74M |
| Gross Profit | -620.00K | 14.25M | 28.34M | 31.06M | 11.95M | 10.69M |
| EBITDA | -100.14M | -93.65M | -66.80M | -125.49M | 57.91M | -151.88M |
| Net Income | -313.05M | -116.95M | -84.60M | -145.43M | 73.91M | -152.69M |
Balance Sheet | ||||||
| Total Assets | 832.43M | 500.47M | 389.98M | 485.55M | 425.26M | 295.60M |
| Cash, Cash Equivalents and Short-Term Investments | 557.41M | 236.86M | 86.74M | 151.89M | 110.34M | 268.25M |
| Total Debt | 5.14M | 6.47M | 7.32M | 8.54M | 6.57M | 6.92M |
| Total Liabilities | 31.02M | 56.81M | 41.97M | 104.93M | 40.50M | 230.06M |
| Stockholders Equity | 801.41M | 443.66M | 348.01M | 380.62M | 381.13M | 65.54M |
Cash Flow | ||||||
| Free Cash Flow | -67.85M | -44.37M | -65.59M | -46.16M | -49.14M | -43.77M |
| Operating Cash Flow | -66.47M | -42.89M | -58.82M | -41.38M | -44.50M | -41.70M |
| Investing Cash Flow | -2.75M | -1.39M | -9.27M | -5.78M | -107.61M | -3.47M |
| Financing Cash Flow | 466.16M | 194.64M | 3.50M | 89.66M | -5.81M | 274.55M |
Navitas Semiconductor Risk Analysis
Navitas Semiconductor disclosed 37 risk factors in its most recent earnings report. Navitas Semiconductor reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Navitas Semiconductor Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $12.25B | 44.37 | 20.25% | ― | 16.16% | 8.14% | |
67 Neutral | $3.12B | 120.50 | 3.72% | 1.34% | 1.56% | -23.60% | |
65 Neutral | $2.90B | 123.21 | 2.62% | ― | -2.52% | -64.30% | |
63 Neutral | $6.02B | -54.86 | -22.37% | ― | 50.50% | 52.01% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | $3.35B | -9.75 | -61.50% | ― | -46.40% | -104.24% | |
53 Neutral | $3.40B | -140.40 | -3.48% | ― | 2.53% | 84.78% |
* Technology Sector Average
NVTS
Navitas Semiconductor
12.97
6.76
108.86%
MXL
Maxlinear
65.28
50.13
330.89%
NVMI
Nova
383.87
136.65
55.27%
POWI
Power Integrations
54.84
10.58
23.91%
UCTT
Ultra Clean Holdings
73.01
50.50
224.34%
VECO
Veeco
47.20
23.20
96.67%
Navitas Semiconductor Corporate Events
Business Operations and StrategyFinancial Disclosures
Navitas Semiconductor Highlights AI-Focused High-Power Transition
Positive
Jul 27, 2026
Navitas Semiconductor reported unaudited second-quarter 2026 results on July 27, 2026, highlighting a strategic transition to a high-power-focused “Navitas 2.0” model. Total revenue rose 22% sequentially to $10.5 million, driven by hig...
Business Operations and StrategyLegal Proceedings
Navitas Semiconductor Addresses Patent Dispute Amid Growth Focus
Negative
Jul 8, 2026
On July 8, 2026, Navitas Semiconductor issued a statement responding to a patent infringement complaint filed by Wolfspeed in the U.S. District Court for the District of Delaware. The company disputes Wolfspeed’s allegations, characterizing ...
Executive/Board ChangesShareholder Meetings
Navitas Shareholders Reelect Directors, Reject Board Declassification
Neutral
Jun 26, 2026
Navitas Semiconductor held its 2026 annual meeting of stockholders on June 25, 2026, with a quorum present as 157,213,045 of 233,713,166 eligible Class A shares were represented. Stockholders elected three directors—Brian Long, David Moxam, ...
Business Operations and StrategyRegulatory Filings and Compliance
Navitas Semiconductor Completes Earnout Share Issuances Post-Merger
Positive
Jun 15, 2026
On June 15, 2026, Navitas Semiconductor Corporation issued 3,280,666 shares of its Class A common stock to satisfy obligations related to Triggering Event III under a Business Combination Agreement originally signed on May 6, 2021. This agreement,...
Executive/Board ChangesRegulatory Filings and Compliance
Navitas Semiconductor Board Chair Ranbir Singh Resigns Suddenly
Negative
Jun 9, 2026
On June 9, 2026, Navitas Semiconductor said that Dr. Ranbir Singh resigned from its board of directors, effective immediately, after joining the board in November 2024. At the time of his departure, Singh served as chair of the board’s Execu...
Private Placements and FinancingRegulatory Filings and Compliance
Navitas Semiconductor Completes Share Issuance for Triggering Events
Neutral
Jun 4, 2026
On June 4, 2026, Navitas Semiconductor Corporation issued 3,283,844 shares of Class A common stock, primarily to satisfy obligations tied to Triggering Event II under a prior business combination agreement, with a smaller portion allocated to empl...
Business Operations and StrategyLegal Proceedings
Navitas Semiconductor Settles Earnout Dispute With Sponsor
Positive
May 22, 2026
On May 18, 2026, Navitas Semiconductor entered into a Settlement, Release and Amendment Agreement with Live Oak Sponsor Partners II, LLC, resolving issues related to contingent earnout rights established in their 2021 business combination. The arr...
Private Placements and FinancingRegulatory Filings and Compliance
Navitas Semiconductor Issues Shares Under Business Combination Agreement
Neutral
May 22, 2026
On May 22, 2026, Navitas Semiconductor Corporation issued 3,277,438 shares of Class A common stock to satisfy its obligations tied to Triggering Event I under a Business Combination Agreement dated May 6, 2021. The transaction reflects the company...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.