Navitas Semiconductor Corporation (NVTS)
NASDAQ:NVTS
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Navitas Semiconductor
(NASDAQ:NVTS)
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Rating:59Neutral
Price Target:
$25.00
▲(102.92% Upside)
Action:Reiterated
Date:05/23/26
The score reflects a mix of strong technical momentum and improving near-term outlook from guidance/high-power traction, offset by weak underlying financial performance (shrinking revenue, compressed margins, ongoing losses and cash burn). Liquidity actions and low leverage help reduce solvency risk but do not yet solve profitability challenges.
Positive Factors
Balance sheet & liquidity
Navitas' $221M cash balance and zero debt provide a durable runway to fund R&D, product qualification and the planned 8-inch GaN pivot in 2027. Low leverage materially reduces solvency risk and gives management flexibility to execute strategic investments without immediate financing pressure.
Negative Factors
Weak operating performance
Trailing metrics show shrinking revenue, compressed gross margin and deeply negative net margins with significant negative operating cash flow. Continued losses and cash burn undermine long-term sustainability and require either rapid margin recovery or ongoing external financing to reach self-sufficiency.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet & liquidity
Navitas' $221M cash balance and zero debt provide a durable runway to fund R&D, product qualification and the planned 8-inch GaN pivot in 2027. Low leverage materially reduces solvency risk and gives management flexibility to execute strategic investments without immediate financing pressure.
Read all positive factors
Navitas Semiconductor (NVTS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.66B
Dividend YieldN/A
Average Volume (3M)40.94M
Price to Earnings (P/E)―
Beta (1Y)1.67
Revenue Growth-45.38%
EPS Growth-19.24%
CountryUS
Employees280
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.63
Shares Outstanding233,713,170
10 Day Avg. Volume37,897,144
30 Day Avg. Volume40,939,584
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 Cap0.97
Enterprise Value/Revenue159.24
Enterprise Value/Gross Profit2.38K
Enterprise Value/Ebitda-83.58
Forecast
1Y Price Target
$14.95Price Target Upside21.35% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)-0.17
Revenue Forecast (FY)$42.01M
Navitas Semiconductor Business Overview & Revenue Model
Company Description
Navitas Semiconductor Corporation designs, develops, and sells gallium nitride (GaN) power integrated circuits in China, the United States, Taiwan, Korea, and internationally. The company was incorporated in 2013 and is based in Dublin, Ireland....
How the Company Makes Money
Navitas makes money primarily by selling semiconductor products (GaN power ICs and SiC power devices/modules) to electronics manufacturers and their suppliers, recognizing revenue from product shipments under customer purchase orders. Key revenue ...
Navitas Semiconductor Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 17, 2026
Earnings Call Sentiment Positive
The call conveyed a cautiously optimistic outlook: clear sequential recovery and tangible momentum in high-power, AI-driven end markets with product sampling, technology milestones and solid liquidity are major positives. However, a substantial year-over-year revenue decline, continued operating losses, and execution/qualification risks temper near-term expectations. Management guided to continued sequential growth and modest margin expansion, and emphasized disciplined spending and the path to profitability, making the tone constructive but dependent on successful scale and customer qualification.Positive Updates
Return to Sequential Revenue Growth
Q1 revenue of $8.6M, up 18% sequentially from $7.3M in Q4 2025, exceeding the high end of guidance; company expects Q2 revenue of $10.0M ± $0.5M (midpoint representing ~16% sequential growth).
Negative Updates
Significant Year‑Over‑Year Revenue Decline
Q1 revenue of $8.6M compared to $14.0M in Q1 2025, representing an approximate -38.6% year-over-year decline, reflecting the impact of the company's transition away from historical mobile and low-end consumer businesses.
Read all updates
Q1-2026 Updates
Positive
Negative
Return to Sequential Revenue Growth
Q1 revenue of $8.6M, up 18% sequentially from $7.3M in Q4 2025, exceeding the high end of guidance; company expects Q2 revenue of $10.0M ± $0.5M (midpoint representing ~16% sequential growth).
Read all positive updates
Company Guidance
Management guided Q2 revenue of $10.0 million ± $0.5 million (midpoint ≈ +16% sequential vs Q1 GAAP revenue of $8.6M, which was +18% Q/Q vs Q4’s $7.3M), non‑GAAP gross margin of 39.25% ± 75 bps (midpoint ≈ +25 bps vs Q1’s 39.0%; Q1 was +30 bps Q/Q and 38.1% a year ago), and non‑GAAP operating expenses roughly flat at $14.5M–$15.5M (Q1 OpEx $15.0M). For context Q1 loss from operations was $11.7M, diluted shares ≈230M and loss per share $0.04; cash was $221M with no debt and inventory $14.9M. Management expects continued sequential revenue growth and gradual gross‑margin expansion through 2026 as high‑power becomes the dominant mix (management cited high‑power growth of ~25–35% YoY and noted AI infrastructure/data center + grid grew ~50% Q/Q), mobile revenue to become insignificant by year‑end, and reiterated a long‑term TAM of ~$3.5B by 2030 (roughly 50/50 GaN/SiC, combined CAGR >60%).Navitas Semiconductor Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
70
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.50M | 45.92M | 83.30M | 79.46M | 37.94M | 23.74M |
| Gross Profit | 2.71M | 14.25M | 28.34M | 31.06M | 11.95M | 10.69M |
| EBITDA | -77.15M | -93.65M | -66.80M | -97.15M | -115.80M | -67.75M |
| Net Income | -133.91M | -116.95M | -84.60M | -145.43M | 73.91M | -152.69M |
Balance Sheet | ||||||
| Total Assets | 481.37M | 500.47M | 389.98M | 485.55M | 425.26M | 295.60M |
| Cash, Cash Equivalents and Short-Term Investments | 221.01M | 236.86M | 86.74M | 151.89M | 110.34M | 268.25M |
| Total Debt | 6.34M | 6.47M | 7.32M | 8.54M | 6.57M | 6.92M |
| Total Liabilities | 61.32M | 56.81M | 41.97M | 104.93M | 40.50M | 230.06M |
| Stockholders Equity | 420.05M | 443.66M | 348.01M | 380.62M | 381.13M | 65.54M |
Cash Flow | ||||||
| Free Cash Flow | -47.55M | -44.37M | -65.59M | -46.16M | -49.14M | -43.77M |
| Operating Cash Flow | -45.72M | -42.89M | -58.82M | -41.38M | -44.50M | -41.70M |
| Investing Cash Flow | -1.73M | -1.39M | -9.27M | -5.78M | -107.61M | -3.47M |
| Financing Cash Flow | 195.21M | 194.64M | 3.50M | 89.66M | -5.81M | 274.55M |
Navitas Semiconductor Technical Analysis
Positive
12.32
Price Trends
15.71
Positive
12.50
Positive
10.50
Positive
Market Momentum
3.66
Negative
61.33
Neutral
64.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NVTS, the sentiment is Positive. The current price of 12.32 is below the 20-day moving average (MA) of 21.99, below the 50-day MA of 15.71, and above the 200-day MA of 10.50, indicating a bullish trend. The MACD of 3.66 indicates Negative momentum. The RSI at 61.33 is Neutral, neither overbought nor oversold. The STOCH value of 64.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NVTS.
Navitas Semiconductor Risk Analysis
Navitas Semiconductor disclosed 36 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 |
|---|---|---|---|---|---|---|---|
75 Outperform | $16.08B | 62.83 | 21.21% | ― | 21.32% | 19.06% | |
71 Outperform | $4.85B | 280.82 | 2.44% | 2.27% | 3.11% | -54.05% | |
66 Neutral | $3.68B | 154.52 | 2.64% | ― | -7.71% | -66.03% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | $6.66B | -44.17 | -32.99% | ― | -45.38% | -19.24% | |
59 Neutral | $3.91B | -19.97 | -28.05% | ― | -3.24% | -786.94% | |
58 Neutral | $8.75B | -61.62 | -28.42% | ― | 40.89% | 42.62% |
* Technology Sector Average
NVTS
Navitas Semiconductor
26.60
21.50
421.57%
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92.93
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715.89%
NVMI
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502.33
288.71
135.15%
POWI
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84.00
35.14
71.93%
UCTT
Ultra Clean Holdings
85.57
66.20
341.77%
VECO
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57.64
38.33
198.50%
Navitas Semiconductor Corporate Events
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...
Private Placements and FinancingRegulatory Filings and Compliance
Navitas Semiconductor Completes $122 Million ATM Equity Offering
Positive
May 13, 2026
On May 11, 2026, Navitas Semiconductor entered into a Sales Agreement with Craig-Hallum Capital Group and UBS Securities to conduct an at-the-market offering of its Class A common stock. Under the related prospectus supplement filed the same day, ...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Navitas Semiconductor Launches New $125 Million ATM Program
Neutral
May 11, 2026
On May 11, 2026, Navitas Semiconductor Corporation entered into a new sales agreement with Craig-Hallum Capital Group and UBS Securities to establish an at-the-market equity offering program for up to $125 million of its Class A common stock. The ...
Business Operations and StrategyExecutive/Board Changes
Navitas Semiconductor Adds Veteran Independent Director Amid Transformation
Positive
May 4, 2026
Navitas Semiconductor, a Nasdaq-listed designer of GaN and SiC power semiconductors for AI data centers, energy and grid infrastructure, performance computing and industrial electrification, has built a portfolio of over 300 patents and markets in...
Business Operations and StrategyExecutive/Board Changes
Navitas Semiconductor Adds Veteran Director to Support Transformation
Positive
Apr 13, 2026
On April 7, 2026, Navitas Semiconductor’s board expanded from eight to ten members, creating two new Class III director seats as part of its ongoing governance structure. The company subsequently appointed semiconductor veteran Gregory M. Fi...
Executive/Board Changes
Navitas Semiconductor Announces CFO Transition and Equity Vesting
Neutral
Mar 17, 2026
Navitas Semiconductor Corporation has implemented an executive transition in its finance leadership, with former Senior Vice President, Chief Financial Officer and Treasurer Todd Glickman departing to pursue new opportunities. He agreed to remain ...
Business Operations and StrategyExecutive/Board Changes
Navitas Semiconductor Names New CFO Amid Transformation Drive
Positive
Mar 12, 2026
On March 11, 2026, Navitas Semiconductor announced that veteran finance executive Tonya Stevens will become Chief Financial Officer and Treasurer effective March 30, 2026, succeeding outgoing CFO Todd Glickman after a short transition period. Stev...
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.