NEW YORK, May 24, 2026, 12:04 (EDT)
Navitas Semiconductor shares surged 19.98% on Friday, finishing the session at $29.25. The stock moved down slightly to $29.01 in after-hours trading ahead of the long U.S. market weekend, with traders still piling into the power-chip maker for its AI data-center exposure.
Timing is key here. U.S. stock markets don’t open Sunday and stay closed Monday for Memorial Day, so investors get their first shot at reacting on Tuesday. That’s when it’ll be clear if Friday’s jump sticks or was just noise heading into a holiday.
Navitas jumped 37% over the week ended May 22, closing Friday well above the prior Friday’s $21.32. Trading was heavy—volume hit 51.18 million shares on Friday. The stock also reached $29.50, topping its 52-week range as listed by Investing.com. The Nasdaq Composite added 0.19%.
Navitas is a much smaller player than the big chipmakers, but traders have seen it as a levered bet on a tighter spot in the market—getting electricity around AI data centers more efficiently. The company sells power semiconductors made from gallium nitride (GaN) and silicon carbide (SiC). Both are used in chips that switch power faster or at higher voltages than regular silicon.
Navitas put out an update last week, saying it plans to show its GaN and SiC products at PCIM 2026 in Germany. The company said it will have a 20-kilowatt 800-volt-to-6-volt power board with a target of 97.5% peak efficiency, and a 10-kilowatt 800-volt-to-50-volt platform with 98.5% peak efficiency. PCIM is a trade show for power electronics.
Attention is still on the shift away from lower-power mobile and consumer products. In its May 5 report, CEO Chris Allexandre said the first quarter was a “return to top-line sequential growth.” CFO Tonya Stevens pointed to “strong momentum and growth” in the company’s high-power focus areas. Revenue was $8.6 million for the first quarter, up 18% over the previous quarter but below $14.0 million a year ago. Navitas is guiding for second-quarter revenue of $10.0 million, give or take $0.5 million. Navitas Semiconductor
Navitas shares also got a push from a capital-structure move. In a filing from May 22, Navitas and Live Oak Sponsor Partners II said they reached a deal on sponsor earnout shares from the company’s SPAC-era transaction. Out of those shares, 726,225 will be transferred and are off vesting or forfeiture terms. Another 421,000 had already been marked as earned, and 115,775 are forfeited.
Navitas shares could have already baked in much of the expected future gains. The company filed this month for an at-the-market offering of up to $125 million. That setup allows Navitas to sell new shares into the market gradually. According to the prospectus, future stock sales—or just investors thinking the company might sell more shares—could weigh on the stock price.
Analysts haven’t caught up to Friday’s stock move. MarketBeat’s consensus remains “Hold,” with an average target price of $12.87. That’s under the most recent close. Out of nine analysts there, two say sell, five say hold and two have buys. MarketBeat
Navitas broke from the group Friday. Power Integrations was up 0.5%, Wolfspeed ticked 0.1% higher, and Nvidia slipped 1.9%. Navitas’s move wasn’t just another chip stock rally.
Navitas is set for more investor meetings this week, with management expected to stick to their messaging. The company said Allexandre and Stevens will meet with investors at the Craig-Hallum Institutional Investor Conference on May 28 and speak at Evercore’s Global TMT Conference on June 3, with a fireside chat scheduled for 2:10 p.m. Pacific time.
Navitas shares are trading on hopes for a cleaner story: more AI power demand, a shift to high-voltage, and higher margins. But the risk is clear, too. If the revenue ramp looks too slow for this price move, or if dilution from new shares spooks buyers, the stock could face a test of conviction at Tuesday’s open after a strong week.
