Streetbeat News

NVTS

Navitas Semiconductor Corporation

Industry

Semiconductors

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.

Open

2.31

Mkt cap

467M

Volume

High

2.56

P/E Ratio

-5.43

52-wk high

5.13

Low

2.28

Div yield

N/A

52-wk low

1.75

NIO Inc. shares are declining due to reports of further job cuts for cost-cutting and efficiency. The company had previously announced a 10% workforce reduction, and new reports suggest this could increase to 20%-30% in certain departments. NIO's CEO William Li described the layoffs as a necessary response to competition. Concurrently, NIO has launched a smartphone featuring Navitas Semiconductor's GaNFast power ICs and QUALCOMM's Snapdragon 8 Gen 2 chip. The NIO Phone aims to enhance the vehicle-centric mobile interconnection experience for users. NIO's stock fell by 4% to $7.43.

Portfolio Pulse from Nabaparna Bhattacharya

December 07, 2023 | 5:53 pm

Navitas Semiconductor (NASDAQ:NVTS) has announced that its GaNFast power ICs with GaNSense technology are featured in NIO's new smartphone, the NIO Phone, which offers 66 W fast charging and seamless integration with NIO's electric vehicles. The phone includes a Qualcomm Snapdragon 8 Gen 2 chip, a 6.81-inch 2K screen, and can control over 30 car functions, potentially replacing car keys. Navitas' ICs contribute to the phone's lightweight and efficient charging experience, marking a collaboration between Navitas, NIO, and TenPao, the manufacturer of the NIO Phone charger.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:39 pm

Navitas Semiconductor (NASDAQ:NVTS) is showcasing its GaNFast gallium nitride and GeneSiC silicon carbide power semiconductors at the 'Bodo's WBG Event' in Munich. As a leader in wide bandgap (WBG) semiconductors, Navitas has shipped over 100 million GaN and 12 million SiC power devices. The company will present its latest technologies aimed at markets such as EV, solar, energy storage, and AI data centers. The event features discussions on the adoption of SiC and GaN materials, and presentations on the advantages of Navitas' power ICs and GeneSiC MOSFETs.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:32 pm

Morgan Stanley analyst Joseph Moore has maintained an Equal-Weight rating on Navitas Semiconductor (NASDAQ:NVTS) but reduced the price target from $8 to $6.9.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 2:17 pm

Navitas Semiconductor reported its Q3 financial results and issued guidance, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 1:38 pm

Needham analyst Quinn Bolton has maintained a 'Buy' rating on Navitas Semiconductor (NASDAQ:NVTS) but lowered the price target from $11 to $10.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 1:18 pm

Several information technology stocks experienced significant movement in Friday's pre-market session. Crexendo, Marin Software, TeraWulf, Indie Semiconductor, Navitas Semiconductor, and HeartCore Enterprises saw gains, while Vuzix, WiSA Technologies, Unity Software, Quantum, Rigetti Computing, and Veritone experienced losses. Most of these movements were associated with the release of Q3 earnings reports.

Portfolio Pulse from Benzinga Insights

November 10, 2023 | 1:06 pm

US stocks are expected to open lower on Friday due to concerns over interest rates and disappointing earnings reports. Federal Reserve Chair Jerome Powell's comments on inflation and interest rates have increased market uncertainty. Powell suggested another rate hike may be necessary if inflation doesn't pull back at a faster pace. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ ETF (NASDAQ:QQQ) fell. Stocks in focus include Plug Power, Inc. (NASDAQ:PLUG), which plunged over 29% in premarket trading following its third-quarter miss and “going concern” warning.

Portfolio Pulse from Shanthi Rexaline

November 10, 2023 | 12:08 pm

Navitas Semiconductor has projected its Q4 net revenues to be between $25M and $36M, which is higher than the estimated $24.91M.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 9:22 pm

Navitas Semiconductor reported Q3 adjusted EPS of $(0.04), with revenue of $22M, slightly above the estimated $21M.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 9:21 pm

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