Navitas Semiconductor
NVTS on Nasdaq. Navitas Semiconductor sells power chips to data centers and industrial customers. Market value $1.2bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-2.76 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 40 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$11.97 a share, 75% above its 1-year low
Over the past year the price has ranged from $6.85 to $34.17.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: a shortfall of $68 million in the past 12 months, a shortfall of $44 million in the year to December 2025.
| Revenue | |||||
| Revenue | $24m | $38m | $79m | $83m | $46m |
| Operating margin | |||||
| Operating margin | -288.6% | -325.8% | -148.7% | -156.9% | -234.7% |
| Debt to equity | |||||
| Debt to equity | 0.11 | 0.00 | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.12bn | 0.18bn | 0.18bn | 0.18bn | 0.21bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting checksSkipped: company is not yet profitable
- DebtUnknown
- Revenue growth, five yearsStrong, 31.1% a year
- Buying back its own sharesNo, 75% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $11 million last quarter, down 27% on a year ago.
- A loss of $228 million, compared with a loss of $49 million a year ago.
- It loses 317 cents on each $1 of sales, compared with 169 cents a year earlier.
- Over the past 12 months it spent $68 million more cash than it brought in, compared with $51 million a year earlier.
- 21% more shares than a year ago. Each share owns a bit less of the company.
- Sales did not grow on a year ago in any of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $22m |
| December 2024 | $18m |
| March 2025 | $14m |
| June 2025 | $14m |
| September 2025 | $10m |
| December 2025 | $7m |
| March 2026 | $9m |
| June 2026 | $11m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$19m |
| December 2024 | -$40m |
| March 2025 | -$17m |
| June 2025 | -$49m |
| September 2025 | -$19m |
| December 2025 | -$32m |
| March 2026 | -$34m |
| June 2026 | -$228m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 27 February 2026
- Next quarterly (estimated, 10-Q)
- 26 October 2026
Who owns it
1 long-term investor we follow owns it, up from 0 last quarter. 350 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Barrow HanleyBarrow Hanley team | $2,563 | <0.1% | New |
Largest holders overall
- BlackRock$291mCut
- D. E. Shaw$172mAdded
- Vanguard Capital Management$161mAdded
- Vanguard Portfolio Management$161mAdded
- State Street$147mCut
- Capricorn Investment Group$128mCut
- Goldman Sachs Group$120mAdded
- Jane Street Group$116mAdded
- Geode Capital Management$90m
- Connor, Clark & Lunn Investment Management$76mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- BlackRock, Inc.Passive investor6.7%+1.4 ptsSince 31 March 2026
- Singh RanbirInsider or founder6.4%−1.7 ptsSince 27 May 2026
What they said
Item 4 is hereby amended to add the following: Dr. Singh is pleased by the Board's decision to seek to declassify itself through the inclusion of a declassification proposal for stockholder approval in the Issuer's recently filed proxy statement. Dr. Singh looks forward to…
Read the filing - JANE STREET GROUP, LLCPassive investorat least 5.3%(filed with 3 related holders)Since 10 July 2026
- Dipender SalujaPassive investorat least 3.5%(filed with 4 related holders)Since 12 December 2025
- SiCPower, LLCActivistWants board seatsSold down below 5%Since 4 June 2025
What they said
Item 4 is hereby amended to add the following: Dr. Singh has served as a member of the Board of Directors of the Issuer (the "Board") since November 2024 and previously entered into a Cooperation Agreement (as defined in Amendment No. 1 to the Scheduled 13D) with the Issuer, the…
Read the filing - The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 6.7%+1.4 pts | 31 March 2026 | |
Singh Ranbir Insider or founder | 6.4%−1.7 pts | 27 May 2026 | What they saidItem 4 is hereby amended to add the following: Dr. Singh is pleased by the Board's decision to seek to declassify itself through the inclusion of a declassification proposal for stockholder approval in the Issuer's recently filed proxy statement. Dr. Singh looks forward to… Read the filing |
JANE STREET GROUP, LLC Passive investor | at least 5.3% (filed with 3 related holders) | 10 July 2026 | |
Dipender Saluja Passive investor | at least 3.5% (filed with 4 related holders) | 12 December 2025 | |
SiCPower, LLC Activist Wants board seats | Sold down below 5% | 4 June 2025 | What they saidItem 4 is hereby amended to add the following: Dr. Singh has served as a member of the Board of Directors of the Issuer (the "Board") since November 2024 and previously entered into a Cooperation Agreement (as defined in Amendment No. 1 to the Scheduled 13D) with the Issuer, the… Read the filing |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 7 sold $151m, $2m of it under preset trading plans.
- Singh RanbirDirectorSold
- Date
- 28 May 2026
- Shares
- 664,058
- Price
- $28.72
- Value
- $19m
- Wunderlich Gary Kent JRDirectorSold
- Date
- 28 May 2026
- Shares
- 108,165
- Price
- $28.12
- Value
- $3m
- HENDRIX RICHARD JDirectorSold
- Date
- 28 May 2026
- Shares
- 110,165
- Price
- $28.96
- Value
- $3m
- Allexandre ChrisPRESIDENT AND CEO, DirectorSold
- Date
- 27 May 2026
- Shares
- 13,323
- Price
- $31.81
- Value
- $423,805
- Singh RanbirDirectorSold
- Date
- 27 May 2026
- Shares
- 3,060,118
- Price
- $29.29
- Value
- $90m
- HENDRIX RICHARD JDirectorSold
- Date
- 27 May 2026
- Shares
- 33,649
- Price
- $29.66
- Value
- $998,029
- GLICKMAN TODDSr. V.P., CFO & TreasurerSoldunder a preset trading plan
- Date
- 17 March 2026
- Shares
- 98,152
- Price
- $10.78
- Value
- $1m
- Allexandre ChrisPRESIDENT AND CEO, DirectorSoldunder a preset trading plan
- Date
- 3 March 2026
- Shares
- 9,236
- Price
- $8.93
- Value
- $82,477
- Singh RanbirDirectorSold
- Date
- 26 February 2026
- Shares
- 389,096
- Price
- $9.52
- Value
- $4m
- GLICKMAN TODDSr. V.P., CFO & TreasurerSoldunder a preset trading plan
- Date
- 26 February 2026
- Shares
- 12,532
- Price
- $9.82
- Value
- $123,064
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 28 May 2026 | Singh Ranbir Director | Sold | 664,058 | $28.72 | $19m |
| 28 May 2026 | Wunderlich Gary Kent JR Director | Sold | 108,165 | $28.12 | $3m |
| 28 May 2026 | HENDRIX RICHARD J Director | Sold | 110,165 | $28.96 | $3m |
| 27 May 2026 | Allexandre Chris PRESIDENT AND CEO, Director | Sold | 13,323 | $31.81 | $423,805 |
| 27 May 2026 | Singh Ranbir Director | Sold | 3,060,118 | $29.29 | $90m |
| 27 May 2026 | HENDRIX RICHARD J Director | Sold | 33,649 | $29.66 | $998,029 |
| 17 March 2026 | GLICKMAN TODD Sr. V.P., CFO & Treasurer | Sold under a preset trading plan | 98,152 | $10.78 | $1m |
| 3 March 2026 | Allexandre Chris PRESIDENT AND CEO, Director | Sold under a preset trading plan | 9,236 | $8.93 | $82,477 |
| 26 February 2026 | Singh Ranbir Director | Sold | 389,096 | $9.52 | $4m |
| 26 February 2026 | GLICKMAN TODD Sr. V.P., CFO & Treasurer | Sold under a preset trading plan | 12,532 | $9.82 | $123,064 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the serious warning signs we check for were found. 1 thing worth knowing.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 27 Feb 2026, plus the 10-Q filed 27 Jul 2026 and 17 later 8-Ks.
Changed auditor
Worth knowingThe company changed its auditor (the firm that checks its books) in the last two years.
“Pursuant to the Committee’s approval and direction, on March 28, 2025, the Company dismissed Moss Adams as its independent registered public accounting firm.”
From an 8-K filed 2 April 2025: Change of auditor. Read it in the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.