Navitas declines 12% despite stable results; sees one-third sales from AI infra by year-end

Navitas Semiconductor (NVTS) shares dropped nearly 12% despite reporting Q2 revenue of $10.53M, beating estimates by $0.56M due to growth in high-power AI infrastructure markets. The company guided Q3 revenue at $13.5M, above consensus, and expects a return to year-over-year growth driven by AI data centers and energy infrastructure. Management plans to exit mobile/low-end consumer markets by year-end, anticipating over one-third of sales from AI infrastructure.

Navitas Semiconductor (NVTS) plunged nearly 12% during Tuesday’s trading hours despite reporting a healthy second-quarter print. The stock was trading 11.92% lower at $10.05 in the afternoon. The company posted a loss of $0.04 per share, in line with Wall Street’s estimates. Revenue for the quarter was $10.53M, which exceeded expectations by $0.56M...