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Navitas Semiconductor
(NASDAQ:NVTS)
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Rating:54Neutral
Price Target:
$12.50
▲(0.48% Upside)
Action:Reiterated
Date:10/06/26
NVTS scores in the mid-range primarily because weak financial performance (shrinking TTM revenue, sharp margin compression, ongoing losses and cash burn) offsets a strong low-debt balance sheet. The earnings call and recent strategic actions support a better forward narrative (accelerating revenue guidance, improving non-GAAP margins, backlog strength and AI/high-power focus), but technicals remain mixed and valuation is constrained by losses and no dividend support.
Positive Factors
AI power platform expansion
The completed Claros acquisition broadens Navitas from power devices into near-chip voltage regulation, creating a more integrated AI data-center offering. Combining IVR, GaN and SiC can deepen hyperscaler relationships, increase content per system, and support a larger long-term addressable market.
Negative Factors
Persistent operating losses
Navitas remains unprofitable even as revenue and margins improve, so growth is not yet translating into self-sustaining earnings. Continued investment in R&D, customer support and operations may keep losses elevated, increasing dependence on future scale and disciplined expense management.
Read all positive and negative factors
Positive Factors
Negative Factors
AI power platform expansion
The completed Claros acquisition broadens Navitas from power devices into near-chip voltage regulation, creating a more integrated AI data-center offering. Combining IVR, GaN and SiC can deepen hyperscaler relationships, increase content per system, and support a larger long-term addressable market.
Read all positive factors
Navitas Semiconductor (NVTS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.81B
Dividend YieldN/A
Average Volume (3M)13.27M
Price to Earnings (P/E)―
Beta (1Y)1.68
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. Volume19,277,275
30 Day Avg. Volume13,266,551
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 Cap1.34
Enterprise Value/Revenue102.89
Enterprise Value/Gross Profit-6.06K
Enterprise Value/Ebitda-42.32
Forecast
1Y Price Target
$14.90Price Target Upside19.77% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)-0.15
Revenue Forecast (FY)$47.70M
Navitas Semiconductor Business Overview & Revenue Model
Company Description
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 devic...
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 | -88.82M | -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 Technical Analysis
Negative
12.44
Price Trends
12.11
Negative
15.60
Negative
13.30
Negative
Market Momentum
-0.19
Positive
39.60
Neutral
9.06
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NVTS, the sentiment is Negative. The current price of 12.44 is above the 20-day moving average (MA) of 11.61, above the 50-day MA of 12.11, and below the 200-day MA of 13.30, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 39.60 is Neutral, neither overbought nor oversold. The STOCH value of 9.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NVTS.
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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $68.13B | 84.53 | 21.78% | 0.55% | 28.67% | -57.45% | |
68 Neutral | $30.18B | 49.07 | 8.38% | ― | -3.14% | 44.55% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $2.74B | 107.93 | 3.72% | 1.74% | 1.56% | -23.60% | |
54 Neutral | $2.81B | -8.10 | -61.50% | ― | -46.40% | -104.24% | |
49 Neutral | $844.60M | -19.76 | -0.02% | ― | -2.48% | 56.59% | |
48 Neutral | $1.62B | -1.50 | -282.74% | <0.01% | -12.21% | -39.87% |
* Technology Sector Average
NVTS
Navitas Semiconductor
10.78
0.81
8.12%
AOSL
Alpha and Omega
27.87
-1.56
-5.30%
MPWR
Monolithic Power
1,386.29
411.16
42.17%
ON
ON Semiconductor
77.53
27.42
54.72%
POWI
Power Integrations
49.12
6.71
15.83%
WOLF
Wolfspeed Inc
30.61
-1.96
-6.02%
Navitas Semiconductor Corporate Events
Business Operations and StrategyM&A Transactions
Navitas Closes Claros Acquisition to Boost AI Power
Positive
Oct 6, 2026
On October 6, 2026, Navitas Semiconductor closed its previously announced acquisition of Claros, Inc., a power management specialist developing integrated voltage regulator technology for next-generation AI data centers. The deal adds Claros’...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Navitas Semiconductor Invests in Magnachip Through Stock Purchase
Positive
Sep 21, 2026
On September 19, 2026, Navitas Semiconductor entered into a stock purchase agreement with Magnachip Semiconductor to acquire 1,461,988 shares of Magnachip common stock at $3.42 per share, for a total consideration of $5 million. The transaction is...
Business Operations and StrategyM&A Transactions
Navitas Semiconductor to Acquire Claros for AI Power
Positive
Aug 25, 2026
On August 24, 2026, Navitas Semiconductor signed a definitive agreement to acquire Claros Inc., a power management specialist in vertical power delivery and integrated voltage regulator technology for next‑generation AI data centers, in a de...
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 ...
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.