NEW YORK, March 12, 2026, 15:35 EDT
Navitas Semiconductor dropped roughly 6.5% to $10.14 as of 3:07 p.m. EDT on Thursday. The move gave back some of Wednesday’s 24.9% surge, with traders rethinking a rush of company developments that previously sent the shares soaring.
The shift is significant: Navitas stands as a real-world case for how a niche power-chip outfit might actually convert AI infrastructure hype into revenue. Back in late February, the company reported that high-power markets now accounted for most of its quarterly sales—a first—and projected ongoing, quarter-over-quarter growth through 2026.
Navitas rolled out its new 1,200-volt silicon carbide MOSFETs early Wednesday, aiming at AI racks and other heavy-duty systems. The fresh components, according to the company, are designed for AI data centers, grid infrastructure, and the industrial electrification sector. “More power in less space” is what customers now expect, SiC business lead Paul Wheeler said. GlobeNewswire
Navitas tapped Tonya Stevens as its new CFO, effective March 30. Stevens, who previously served as chief accounting officer and interim CFO at Lattice Semiconductor, said she plans to focus on “reinforcing our financial foundation and discipline.” CEO Chris Allexandre pointed to her experience at Lattice and Intel as key for supporting the “Navitas 2.0” transformation. GlobeNewswire
That optimism, though, has little to stand on. Navitas posted 2025 revenue at $45.9 million—a steep drop from $83.3 million the year before—while logging a GAAP net loss that came close to $117 million. The company’s outlook doesn’t get much brighter, projecting first-quarter 2026 revenue at just $8 million to $8.5 million. Still, it finished last year holding $236.9 million in cash.
Competition is intense. Navitas, in its latest annual report, called out Infineon, Wolfspeed, and ON Semiconductor as key silicon-carbide competitors, highlighting just how aggressively bigger players are moving toward AI data-center, grid, and industrial power opportunities.
Here’s the hitch for the rally. Last week at a Morgan Stanley conference, Allexandre insisted, “revenue is the source of truth,” underscoring that the next round of wins has to translate to the order book—not just a bump in customer buzz or design work. Investing.com
Wall Street’s outlook remains hesitant. Rosenblatt’s Kevin Cassidy held steady with a Hold on the stock, keeping his $7 price target, according to Stock Analysis data as of Thursday.
