Navitas Semiconductor stock surged 17.3% in morning trading, hitting a new 52-week high of $28.85. The rally followed an investor conference participation announcement and continued AI data-center growth momentum.
CEO Chris Allexandre and CFO Tonya Stevens will attend the Craig-Hallum Institutional Investor Conference on May 28 in Minneapolis and the Evercore Global TMT Conference on June 3 in San Francisco. The stock peaked at +14.3% intraday on the news.
Q1 revenue of $8.6M beat expectations, with Q2 2026 guidance of ~$10M above the $8.93M consensus. Baird raised its price target from $9 to $20, and Needham from $13 to $21.
NVTS licensed its GaN technology to Cyient Semiconductors to power India's first locally branded 650-700V GaN IC family. Short interest of 21% amplified the move as shorts covered.
The broader market is constructive: S&P 500 +0.6%, Dow +0.8%, NASDAQ +0.6%. Navitas designs power semiconductors for automotive, data center, mobile, and consumer electronics.
NVTS has minimal debt and over $220M in cash, providing a cushion to fund its transition while scaling GaN and SiC businesses.
