TLDR
- NVTS has gained over 310% year-to-date, adding another 6% overnight ahead of Tuesday’s session
- Navitas settled its dispute with SPAC sponsor Live Oak, issuing ~3.28 million Class A shares after hitting a stock-price milestone
- Q1 revenue of $8.6M beat estimates; Q2 guidance of ~$10M topped the $8.93M Street forecast
- Baird raised its price target to $20, Needham to $21, both citing AI data center growth
- Navitas licensed its GaN technology to Cyient Semiconductors for India’s first locally branded GaN chip family
Navitas Semiconductor has been on a tear. The stock added 37% last week alone and is up 310% year-to-date, driven by a mix of strong earnings, analyst upgrades, a legal settlement, and growing buzz around its power chip technology.
Navitas Semiconductor Corporation, NVTS
The stock hit a 52-week high of $28.85 on May 22, gaining 17.3% in morning trading that day. The catalyst was a conference appearance announcement — CEO Chris Allexandre and CFO Tonya Stevens will attend the Craig-Hallum Institutional Investor Conference on May 28 in Minneapolis and the Evercore Global TMT Conference on June 3 in San Francisco.
That kind of management visibility event is now moving the stock. With a short interest sitting at 21% of outstanding stock as of mid-April, any positive news has been getting amplified fast.
Settlement With Live Oak Clears the Air
The rally got its legs after Navitas resolved its dispute with Live Oak Acquisition Corp. II, the SPAC sponsor behind its 2021 merger.
The disagreement was over whether Navitas had hit certain stock-price targets that would trigger vesting of earnout shares owed to Live Oak. Live Oak said the first milestone had been reached. Navitas initially pushed back.
Under the settlement reached May 18, around 726,000 shares will fully vest with Live Oak, while roughly 116,000 will be forfeited. Both sides dropped related legal claims.
On Friday, Navitas also disclosed it issued about 3.28 million Class A shares to former shareholders after separately hitting another price milestone under the original merger agreement.
Q1 Beat and Analyst Upgrades
Behind the legal noise, the fundamentals gave investors something to work with.
Q1 revenue came in at $8.6M, beating Street expectations. EPS landed at -$0.04 versus the -$0.05 consensus. Q2 2026 revenue guidance of approximately $10M topped the $8.93M estimate, implying more than 16% sequential growth with improved gross margins.
Baird lifted its price target from $9 to $20, pointing to three growth waves tied to 800V AI data center power architectures. Needham raised its target from $13 to $21 after the earnings beat and forward guidance came in ahead of expectations.
Navitas also licensed its GaN technology to Cyient Semiconductors, powering India’s first locally branded 650–700V GaN IC family. The deal targets AI data centers, telecom, fast charging, and e-mobility markets, with Cyient also acting as a second source for select Navitas devices.
On the balance sheet, NVTS holds over $220M in cash and carries minimal debt.
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