New York, June 24, 2026, 13:03 (EDT)
- Navitas Semiconductor dropped 14.5% to $18.30 in heavy Nasdaq action. The stock opened at $21.02.
- Tuesday’s selloff in chips dragged the Philadelphia SE Semiconductor index down 7.9%, with worries about AI spending hitting the group.
- On June 23, Zacks noted Navitas was trading at roughly 97 times forward sales, compared to the industry average of 10 times. The firm gave Navitas a Zacks Rank #4, or Sell.
Navitas Semiconductor dropped more than 14% Wednesday. Investors pulled back from smaller AI-connected chip stocks after a big selloff in semis and new worries about how much future growth is in the price.
The stock traded at $18.30 as of 1:03 p.m. EDT, falling $3.10 from Tuesday’s close. Turnover hit 17.6 million shares. The shares opened at $21.02 and touched a low of $18.26 earlier in the session.
Wolfspeed dropped 7.5% and ON Semiconductor slid 2.0% as power and silicon-carbide chip stocks were mixed to down. Power Integrations inched up 0.3%.
Navitas makes power semiconductors with gallium nitride (GaN) and silicon carbide (SiC), two chip materials that carry power at higher voltages and cut energy loss compared to silicon. The company targets AI data centers, energy and grid systems, performance computing and industrial electrification.
Navitas’ press-release page most recently listed a June 8 rollout for a new isolated through-hole package for SiC MOSFETs, the high-voltage power switches. The company said the design covers 1,200V to 3,300V GeneSiC SiC MOSFETs and adds integrated isolation over 6,000V.
Navitas’ SiC business unit vice president and GM Paul Wheeler said the new package brings “power module–class performance” but in a smaller size. Navitas Semiconductor
AI remains central to the stock. Navitas said on June 3 its 800-volt to 6-volt direct-current power delivery board was shown at NVIDIA’s AI Factory MGX Ecosystem event at COMPUTEX 2026 in Taipei. Direct current only flows one way. Navitas said the board is designed for 97.5% peak efficiency and uses 16 GaNFast field-effect transistors.
“Power delivery has become one of the most critical challenges” for next-generation AI factories, Chris Allexandre, president and CEO of Navitas, said. Navitas Semiconductor
Stocks ran into some selling pressure with the Nasdaq and S&P 500 ending at their lowest levels in over a week on Tuesday, Reuters reported. Chip names led markets lower. Thomas Martin, senior portfolio manager at Globalt, said the latest AI headlines “raises questions about all the spending.” Reuters
Zacks said June 23 that Navitas shares are up 232% so far this year. The industry is up 66%, according to Zacks. The firm also noted that Navitas’s energy and grid segment could be a $1 billion to $1.8 billion serviceable market by 2030. Still, Zacks said consensus calls for losses in 2026 and 2027.
Navitas posted Q1 revenue of $8.6 million, an 18% gain from the last quarter. GAAP loss from operations came in at $27.8 million. The company projected Q2 revenue at $10.0 million, give or take $0.5 million. CEO Allexandre said it was “a return to top-line sequential growth,” and CFO Tonya Stevens pointed to “strong momentum” for high-power markets. Navitas Semiconductor
The risk isn’t just about sluggish chip demand. Navitas set up an at-the-market equity program on June 8, looking to sell as much as $500 million in stock over time through brokers. The filing flagged that selling shares, or even talk of it, might drive the stock down. It also said buyers in the deal could see instant dilution.
