Navitas SemiconductorNASDAQ: NVTS

World-leading performance over temperature enables cool-running, fast-switching 650 V and 1,200 V SiC MOSFETs to support up to 3x more powerful AI data centers and faster charging EVs World-leading performance over temperature enables cool-running, fast-switching 650 V and 1,200 V SiC MOSFETs to support up to 3x more powerful AI data centers and faster charging EVs

Navitas Semiconductor Corporation (NVTS) Q4 2023 Earnings Call Transcript

Navitas Semiconductor Corporation (NVTS) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to loss of $0.06 per share a year ago.

The Russell 2000, an index tracking the performance of small-to-mid-cap companies, ended 2023 in better shape than when it started. In particular, Russell 2000 stocks 16.8% in 2023, below that of both the S&P 500 and Nasdaq indices, which appreciated 24.2% and 43.4%, respectively.

The stock market has been performing well recently, with the S&P 500 rallying up over 4% in the last month. However, with investors always looking to out-beat the market, technology firms, and especially semiconductor companies, provide potential for explosive growth potential.

Gene Sheridan, CEO of Navitas Semiconductor, discusses the company's earnings beat, expectations for revenue growth, and artificial intelligence.

Navitas Semiconductor Corporation (NASDAQ:NVTS ) Q3 2023 Earnings Conference Call November 9, 2023 5:00 PM ET Company Participants Stephen Oliver - Vice President, Corporate Marketing & Investor Relations Gene Sheridan - Co-Founder, Chief Executive Officer, President & Chairman Ron Shelton - Senior Vice President, Chief Financial Officer & Treasurer Conference Call Participants Quinn Bolton - Needham & Company Jack Egan - Charter Equity Research Joe Moore - Morgan Stanley Jon Tanwanteng - CJS Securities Mark Lipacis - Jefferies Kevin Cassidy - Rosenblatt Securities Operator Good day, and welcome to Navitas Semiconductor Q3 2023 Earnings Call. All lines have been placed on mute to prevent any background noise.

Navitas Semiconductor Corporation (NVTS) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

Navitas has positioned itself for growth in the power chip market, particularly in electric vehicles and mobile devices. Navitas has found a niche, solidifying its role as a developer of chips designed on GaN. GaN growth potential is larger than SiC; GaN will exhibit a CAGR of 53.2%, ahead of SiC with a CAGR of 42.5%.