Navitas Stock Surges After Q1 Beat, Analyst Upgrades and India Licensing Deal
The rally signals renewed market confidence in Navitas’s pivot to GaN and SiC power chips for AI data‑center power.
Overview
- Navitas shares jumped about 20% to close near $29 after an earnings beat, above‑consensus Q2 revenue guidance and fresh analyst price‑target increases.
- The company reported Q1 revenue of $8.6 million and EPS of -$0.04 and gave Q2 revenue guidance of roughly $10 million that topped Street estimates.
- Analysts including Baird and Needham raised price targets after the update, and announced investor appearances added momentum ahead of late‑May and June conferences.
- Navitas signed a licensing and second‑source agreement with Cyient to develop India‑branded 650–700V GaN ICs aimed at data centers, fast chargers and telecom markets.
- Underlying fundamentals remain mixed because year‑over‑year revenue fell and net loss widened to about $33.8 million even though the company holds more than $220 million in cash, making upcoming product traction and the next financial reports key tests.