# Navitas Semiconductor Corporation (NVTS)

> Source: Nexqual · https://nexqual.com/NVTS · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Navitas Semiconductor Corporation (NVTS), nexqual.com/NVTS" · informational, not investment advice.

**Price:** USD 8.49 (-7.31% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 9.16 · day 8.35–8.85 · 52w 6.85–34.17 · market cap $2.23B · NGM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $36.5M, net income -$313M (-856.9% margin), free cash flow -$67.8M (SEC filings).
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $116M; 4 not under a Rule 10b5-1 plan ($116M); 2 by opportunistic insiders (2 outside 10b5-1 plans), 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.75 on a 1–5 scale) (8 analysts), mean target USD 14.08 (range 8–21).
- Total return with dividends: 1Y -37.6% vs S&P 500 +14.9%; 5Y -30.3% vs S&P 500 +80.3%.
- Next earnings: 2026-11-03, EPS estimate USD -0.04, revenue estimate $13.5M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $23.7M | $37.9M | $79.5M | $83.3M | $45.9M | $36.5M |
| Gross profit | $10.7M | $11.9M | $31.1M | $28.3M | $14.2M | — |
| Operating income | -$68.5M | -$124M | -$118M | -$131M | -$108M | -$116M |
| Net income | -$153M | $73.9M | -$145M | -$84.6M | -$117M | -$313M |
| EPS (diluted) | -$3.90 | $0.51 | -$0.86 | -$0.46 | -$0.57 | — |
| Free cash flow | -$43.8M | -$49.1M | -$46.2M | -$65.6M | -$44.4M | -$67.8M |
| Gross margin | 45.0% | 31.5% | 39.1% | 34.0% | 31.0% | — |
| Operating margin | -288.6% | -325.8% | -148.7% | -156.9% | -234.7% | -316.9% |
| Net margin | -643.3% | 194.8% | -183.0% | -101.6% | -254.7% | -856.9% |
| Revenue growth | +100.3% | +59.9% | +109.4% | +4.8% | -44.9% | — |
| Cash + short-term investments | $268M | $110M | $152M | $86.7M | $237M | — |
| Total debt | $6.9M | $0K | — | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 61.0x · P/B 2.8x · FCF yield -3.04% · Earnings yield -14.04%

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-27…2026-05-28 | Singh Ranbir | Director | 3,724,176 | $109M | 19.9% | No | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
| 2026-05-28 | Wunderlich Gary Kent Jr | Director | 108,165 | $3.0M | 4.3% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-27…2026-05-28 | Hendrix Richard J | Director | 143,814 | $4.2M | 5.4% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-27 | Allexandre Chris | PRESIDENT AND CEO | 13,323 | $424K | 1.2% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.75 on a 1–5 scale), 8 analysts; mean target USD 14.08 (low 8, high 21).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-29 | Rosenblatt | Maintained | Neutral | $13 |
| 2026-07-28 | Rosenblatt | Maintained | Neutral | $13 |
| 2026-07-28 | Needham | Reiterated | Buy | $21 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -37.6% | -30.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -37.7% | -7.0% |
| Volatility (annualized) | 116.6% | 98.1% |
| Max drawdown | -73.8% (May 2026→Oct 2026) | -90.4% (Nov 2021→Nov 2024) |

## Peers (Semiconductors)
POWI (Power Integrations, Inc.) USD 47.12 -2.34% · DIOD (Diodes Incorporated) USD 81.64 -8.10% · VSH (Vishay Intertechnology, Inc.) USD 27.03 -9.54% · SYNA (Synaptics Incorporated) USD 117.04 -0.39% · PI (Impinj, Inc.) USD 162.7 -9.01% · CRUS (Cirrus Logic, Inc.) USD 110.49 -0.14%

## More
Full page: https://nexqual.com/NVTS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in NVTS's own 10-K filed 2026-02-27 (https://www.sec.gov/Archives/edgar/data/1821769/000182176926000007/nvts-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | TSMC (TSM) | "For GaN products, our existing wafer fabrication partner is TSMC located in Taiwan." |
| Partner | GlobalFoundries (GFS) | "Our US based GaN fabrication partner is GlobalFoundries." |
| Partner | Powerchip Semiconductor Manufacturing | "with Powerchip Semiconductor Manufacturing Corporation and in November 2025, we announced a long-term strategic partnership with GlobalFoundries to develop and deliver advanced GaN solutions for critical applications in …" |
| Competitor | Infineon | "Our primary SiC competitors include Infineon, Wolfspeed, Inc., ON Semiconductor Corporation, ROHM Co., Ltd., Qorvo, Inc., and STMicroelectronics International N.V." |
| Competitor | onsemi (ON) | "Our primary SiC competitors include Infineon, Wolfspeed, Inc., ON Semiconductor Corporation, ROHM Co., Ltd., Qorvo, Inc., and STMicroelectronics International N.V." |
| Competitor | Texas Instruments (TXN) | "Our primary GaN competitors include Infineon Technologies AG, Power Integrations, Inc., Texas Instruments Incorporated, Innoscience (Suzhou) Semiconductor Co., Ltd., Renesas Electronics Corp., and Efficient Power Convers…" |
| Competitor | Qorvo (QRVO) | "Our primary SiC competitors include Infineon, Wolfspeed, Inc., ON Semiconductor Corporation, ROHM Co., Ltd., Qorvo, Inc., and STMicroelectronics International N.V." |
| Competitor | STMicroelectronics (STM) | "Our primary silicon-based power semiconductor competitors include Infineon, STMicroelectronics, ON Semiconductor and" |

## Customer concentration

Period ended 2026-06-30: 71% of revenue from unnamed direct customers (10-Q, filed 2026-07-27).

## Company outlook (8-K filed 2026-07-27)

- "Business Outlook • Third quarter 2026 net revenues are expected to increase to $13.5 million, plus or minus $0.5 million, which at the midpoint represents 28% sequential growth and would mark a return to year-over-year growth."
- "Non-GAAP gross margin is expected to be 39.7%, plus or minus 100 basis points, which at midpoint represents a 20 basis point increase, and non-GAAP operating expenses are expected to be in a range between $15.5 and $17.5 million."

Analysts expect $13.5M for the current quarter, +0.0% vs the guidance midpoint $13.5M. Source: https://www.sec.gov/Archives/edgar/data/1821769/000162828026049795/exhibit991-navitassemicond.htm

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.04 | $-0.04 | -14.8% | $13.5M | 7 |
| Next quarter (ends 2026-12-31) | $-0.03 | $-0.04 | -18.3% | $15.1M | 7 |
| Current fiscal year (ends 2026-12-31) | $-0.15 | $-0.17 | -11.4% | $47.7M | 7 |
| Next fiscal year (ends 2027-12-31) | $-0.13 | $-0.14 | -9.0% | $74.3M | 8 |