Welcome to our dedicated page for Navitas Semiconductor Corporation news (Ticker: NVTS), a resource for investors and traders seeking the latest updates and insights on Navitas Semiconductor Corporation stock.
Navitas Semiconductor Corporation (Nasdaq: NVTS) is a leading innovator in the power semiconductor industry, headquartered in El Segundo, California. The company is renowned for its groundbreaking introduction of the world’s first and fastest AllGaN™ power ICs, which revolutionize high-frequency, high-efficiency, and high-density power electronics. These GaNFast™ power ICs integrate gallium nitride (GaN) power with drive, control, and protection mechanisms, enabling faster charging, higher power density, and significant energy savings across various markets including mobile, consumer, enterprise, eMobility, and new energy.
Formed in 2014, Navitas leverages over 150 years of combined expertise in power semiconductors and holds more than 250 patents. The company’s patented GaN technology spans core device, circuit, packaging, and system technologies, further reinforced by extensive trade secrets, access to over $100 million of R&D equipment, and ongoing collaboration with the Hughes Research Lab (HRL).
Navitas operates globally across key markets such as China, Europe, the United States, and other parts of Asia. A significant portion of its revenue is generated from China. The company focuses on creating ultra-efficient GaN semiconductors that replace legacy silicon power chips, delivering superior high-frequency and high-efficiency characteristics. This shift is pivotal in the fast adoption of electric vehicles (EVs), the transition to renewable energy sources, and advancements in data center technologies.
Recent achievements include the establishment of a joint lab with SHINRY in Shenzhen. This collaboration promises to accelerate the development of advanced battery-electric and fuel-cell vehicle power platforms, leveraging Navitas' leading-edge GaN technology. Furthermore, Navitas has introduced a 3.2kW data center power platform and plans to develop even more powerful systems to meet the escalating demands of AI data centers.
Financially, Navitas concluded 2023 with record revenue growth, doubling its annual revenue. The company’s robust customer pipeline includes significant new wins in AI data centers, home appliances, solar inverters, and satellite internet projects, positioning it well for continued growth in 2024 and beyond. For the first quarter of 2024, the company projects net revenues of $23 million and maintains a focus on expanding its footprint in various high-growth markets.
Navitas prides itself on sustainability, being the first semiconductor company to be CarbonNeutral®-certified. The company’s product range includes complementary GeneSiC™ power devices optimized for high-power, high-voltage, and high-reliability applications. With a dedication to innovation and a strong commitment to environmental responsibility, Navitas continues to push the boundaries of power semiconductor technology.
Navitas Semiconductor (Nasdaq: NVTS) has successfully completed a prepaid forward-purchase transaction, releasing $30 million in unrestricted cash and 3,000,000 shares from its balance sheet. This agreement, initiated on October 6, 2021, involved Atalaya Capital Management, which sold these shares in open-market transactions, allowing the cash to be utilized without restrictions. This completion enhances Navitas' financial flexibility, supporting its leadership in the gallium nitride (GaN) power IC market.
Navitas Semiconductor has revealed that its gallium nitride (GaN) semiconductors enable ultra-fast charging for Xiaomi's Note 11 Pro+ smartphone. Powered by GaNFast™ ICs with GaNSense™ technology, the new charger can fully charge a 4,500 mAhr battery in just 17 minutes at a capacity of 120W. Notably, GaN devices operate 20 times faster than traditional silicon, offering significant energy efficiency. This collaboration is projected to double Navitas' revenue opportunity as the ultra-fast charger market grows. The technology was showcased at the recent China Power Supply Society's conference.
Navitas Semiconductor (Nasdaq: NVTS) has been named a CES® 2022 Innovation Awards Honoree for its GaNFast™ ICs with GaNSense™ technology. This announcement precedes CES 2022, scheduled for January 5-8 in Las Vegas, where Navitas will showcase its high-performance mobile chargers from leading brands. The CES Innovation Awards program recognized over 1,800 submissions based on innovation, engineering, and design. GaNFast ICs provide faster charging and power efficiency, addressing diverse applications including consumer electronics and electric vehicles.
Navitas Semiconductor and Anker Innovations have announced a strategic partnership to develop next-generation mobile fast chargers utilizing GaN power integrated circuits (ICs). This collaboration aims to enhance product development efficiency by colocating engineering teams from both companies. GaN technology is poised to revolutionize the mobile charging market, estimated at $2B. Initial products include 30W and 65W chargers designed for high-performance devices like gaming laptops, marking a significant step forward in the adoption of GaN technology.
Navitas Semiconductor (Nasdaq: NVTS) announced CEO Gene Sheridan's participation in the J.P. Morgan Global Technology, Media and Telecom Conference in Asia, focusing on next-gen GaN power integrated circuits (ICs). Scheduled for November 16, the panel titled 'Beyond Silicon' will discuss the shift from silicon to gallium nitride technology, vital for improving efficiency in various applications, including electric vehicles. Navitas, a leader in GaN technology, trades with an enterprise value exceeding $1B and has raised over $320M since its Nasdaq debut on October 20, 2021.
Navitas Semiconductor (Nasdaq: NVTS) reported a 61% increase in Q3 2021 revenues to $5.6 million, with year-to-date revenues growing 128% compared to 2020. Despite a GAAP net loss of $9.5 million ($0.57/share), the company anticipates Q4 revenues of $7.4 million, marking a projected 60% growth year-over-year. The newly launched GaNSense technology promises significant market potential, with strategic partnerships and product launches ongoing in the fast-charging sector. The company completed a business combination with $260 million in cash to fuel growth.
Navitas Semiconductor (NASDAQ: NVTS) announced participation in the Craig-Hallum Alpha Select Conference on November 16, 2021. The conference highlights innovative companies with strong business models and growth prospects. Navitas is a leader in gallium nitride (GaN) power integrated circuits, aiming to replace legacy silicon chips in a $13.1 billion market. GaN technology offers significant advantages, including faster performance and reduced carbon emissions. The company touts over 130 patents and the ability to achieve up to 3x faster charging.
Navitas Semiconductor (Nasdaq: NVTS) announced the launch of its third-generation GaN power ICs featuring GaNSense technology. This innovation enhances real-time sensing and protection, improving reliability and efficiency. The new product line includes 10 different ICs, optimized for fast-charging applications with significant energy savings of up to 10% compared to earlier models. Navitas has shipped over 30 million GaNFast power ICs, achieving excessive field operation without failures. The new ICs will be showcased at key industry events and are now in mass production.
Navitas Semiconductor (Nasdaq: NVTS) will participate in Baird's 2021 Global Industrial Conference from November 9-11. Senior executives will discuss the potential of their gallium nitride (GaN) power integrated circuits in various markets, including electric vehicles and renewable energy. The mobile fast charger market is valued at $2B, with the EV segment alone at approximately $2.5B per year. Each GaN IC can reduce CO2 emissions by 4 kg compared to legacy silicon chips, contributing to an estimated 2.6 Gton/yr CO2 saving by 2050.
Navitas Semiconductor announced that Dan Kinzer, co-founder and COO/CTO, will present a keynote at the IEEE WiPDA virtual workshop from November 7-11, 2021. The keynote will focus on the advancements of GaN power ICs, which improve efficiency and reliability while reducing size. Navitas' GaNFast™ technology allows for up to 3x faster charging and powers diverse applications in a $13B market by 2026. Kinzer emphasized the environmental benefits of GaN ICs, citing a 10x lower CO2 footprint compared to silicon chips.
FAQ
What is the current stock price of Navitas Semiconductor Corporation (NVTS)?
What is the market cap of Navitas Semiconductor Corporation (NVTS)?
What does Navitas Semiconductor Corporation specialize in?
Where is Navitas Semiconductor Corporation headquartered?
What are some key markets for Navitas’ products?
What recent collaborations has Navitas engaged in?
How many patents does Navitas hold?
What makes Navitas’ GaN technology superior to silicon?
What financial milestones did Navitas achieve in 2023?
Is Navitas focused on sustainability?
What is the significance of Navitas’ partnership with Hughes Research Lab?
How does Navitas support its customers in data center markets?
