Navitas Semiconductor reports 571% revenue growth, recognized by Deloitte's Technology Fast 500 for increasing demand in GaN and SiC components.
Quiver AI Summary
Navitas Semiconductor has reported impressive revenue growth for the third consecutive year, ranking on Deloitte's Technology Fast 500™ with a remarkable 571% increase from 2020 to 2023. This growth stems from the rising demand for their advanced, efficient gallium nitride (GaN) and silicon carbide (SiC) power components, catering to an expanding range of global markets. As a leading next-gen semiconductor company celebrating its 10th anniversary, Navitas continues to excel in various sectors, including AI data centers and electric vehicles. The company's recent product innovations and partnerships, such as GaNSafe™ and Gen-3 ‘Fast’ SiC, bolster its potential for further expansion, with a market opportunity exceeding $22 billion per year.
Potential Positives
- Navitas Semiconductor achieved a remarkable 571% revenue growth over three years, distinguishing itself among the fastest-growing technology companies as recognized by Deloitte's Technology Fast 500.
- The company has strong demand for its advanced GaN and SiC power components, contributing to its continued market outperformance in the power semiconductor sector.
- Recent product introductions and collaborations, such as GaNSafe™ and a partnership with Infineon, position Navitas for further growth in diverse applications, capturing a significant market opportunity exceeding $22 billion annually.
Potential Negatives
- Despite impressive revenue growth, the press release does not address any potential challenges or risks faced by the company in maintaining this momentum, which raises questions about the sustainability of its growth.
- The focus on revenue growth may overshadow other critical performance metrics or operational challenges, such as profitability or market share, which are crucial for stakeholder assessment.
- The press release lacks detailed financial data, such as net income or projections for future growth, which could leave investors uncertain about the company's overall financial health.
FAQ
What recent recognition did Navitas Semiconductor receive?
Navitas Semiconductor was recognized by Deloitte’s Technology Fast 500 for revenue growth for the third consecutive year.
What was Navitas Semiconductor's revenue growth percentage?
Navitas achieved an impressive revenue growth of 571% from 2020 to 2023.
What technologies is Navitas Semiconductor known for?
Navitas is known for its advanced gallium nitride (GaN) and silicon carbide (SiC) power components.
Who is the CEO of Navitas Semiconductor?
Gene Sheridan is the CEO and co-founder of Navitas Semiconductor.
What markets does Navitas Semiconductor serve?
Navitas serves markets including AI data centers, electric vehicles (EV), solar energy, and mobile fast chargers.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$NVTS Insider Trading Activity
$NVTS insiders have traded $NVTS stock on the open market 8 times in the past 6 months. Of those trades, 0 have been purchases and 8 have been sales.
Here’s a breakdown of recent trading of $NVTS stock by insiders over the last 6 months:
- EUGENE SHERIDAN (President & CEO) has traded it 3 times. They made 0 purchases and 3 sales, selling 912,000 shares.
- DANIEL M. KINZER (COO and CTO) sold 150,000 shares.
- DAVID MOXAM sold 33,000 shares.
- DIPENDER SALUJA has traded it 3 times. They made 0 purchases and 3 sales, selling 261,179 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$NVTS Hedge Fund Activity
We have seen 72 institutional investors add shares of $NVTS stock to their portfolio, and 102 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MILLENNIUM MANAGEMENT LLC removed 5,962,360 shares (-100.0%) from their portfolio in Q3 2024
- KODAI CAPITAL MANAGEMENT LP removed 4,683,257 shares (-100.0%) from their portfolio in Q3 2024
- POINT72 ASSET MANAGEMENT, L.P. added 3,748,124 shares (+87.5%) to their portfolio in Q3 2024
- GOLDMAN SACHS GROUP INC added 2,831,819 shares (+106.9%) to their portfolio in Q3 2024
- ELEQUIN CAPITAL, LP removed 2,106,152 shares (-100.0%) from their portfolio in Q2 2024
- PENN CAPITAL MANAGEMENT COMPANY, LLC removed 1,679,073 shares (-97.7%) from their portfolio in Q3 2024
- INTRINSIC EDGE CAPITAL MANAGEMENT LLC removed 1,585,996 shares (-100.0%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
TORRANCE, Calif., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS) has announced that the company’s revenue growth has been acknowledged for the third consecutive year, by Deloitte’s Technology Fast 500™ . Navitas growth was driven by strong demand for its advanced, high-efficiency, wide-bandgap gallium nitride (GaN) and silicon carbide (SiC) power components, across a growing number of global markets and customers.
Now in its 30 th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Based on percentage fiscal year revenue growth from 2020 to 2023, Navitas achieved 571% growth as GaN and SiC technology enabled efficient, sustainable applications and displaced legacy silicon chips.
“As a ‘pure-play’, next-gen, semiconductor company, Navitas continues to outperform the overall power semiconductor market, with record sales into mobile fast chargers, now ramping AI data center revenues and a strong customer pipeline for EV opportunities,” said Gene Sheridan, CEO and co-founder. “Recent introductions like GaNSafe™, Gen-3 ‘Fast’ SiC, and a newly-announced, 48V-focused range in partnership with Infineon, have built a strong foundation for further revenue growth in applications from 20W to 20MW, and with a market opportunity of over $22B per year.”
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500 ® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 460,000 people worldwide connect for impact, at www.deloitte.com.
About Navitas
Navitas Semiconductor (Nasdaq: NVTS) is the only pure-play, next-generation power-semiconductor company, celebrating 10 years of power innovation founded in 2014. GaNFast™ power ICs integrate gallium nitride (GaN) power and drive, with control, sensing, and protection to enable faster charging, higher power density, and greater energy savings. Complementary GeneSiC™ power devices are optimized high-power, high-voltage, and high-reliability silicon carbide (SiC) solutions. Focus markets include AI datacenters, EV, solar, energy storage, home appliance / industrial, mobile and consumer. Over 300 Navitas patents are issued or pending, with the industry’s first and only 20-year GaNFast warranty . Navitas was the world’s first semiconductor company to be CarbonNeutral ® -certified .
Navitas Semiconductor, GaNFast, GaNSense, GeneSiC and the Navitas logo are trademarks or registered trademarks of Navitas Semiconductor Limited and affiliates. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
Contact Information
Stephen Oliver, VP Investor Relations
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cffa5421-88e3-46de-8f52-2e8e1815b4ed
