Navitas Semiconductor slides on $125 mln stock offering plans

Navitas Semiconductor

12/05/2026 14:51

** Navitas Semiconductor's NVTS.O shares down 9% at $20.62 early Tues as it looks to raise equity

** Co late Mon said it may sell $125 mln of shares in ATM (at the market) offering to be handled by Craig-Hallum and UBS

** NVTS intends to use net proceeds for working capital and other general corporate purposes, including potential acquisitions, according to the SEC filing

** Torrance, California-based co designs gallium nitride (GaN) power integrated circuits and silicon carbide (SiC) devices, focusing on AI data centers, energy and grid infrastructure, performance computing and industrial electrification

** Prior to the offering, co had ~233.7 mln shares outstanding for about $5 bln market value

** Even with the decline, stock up 190% YTD

** Of 9 analysts covering the stock, recommendation breakdown is 2 "strong buy" or "buy", 6 "hold" and 1 "sell"; median PT $13.35, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))