2024-07-15 10:28:45 ET
Summary
- The management's comments about an expectation for moderation in growth for the second half of 2024 resulted in growing uncertainties about the recovery for the company.
- Likewise, guidance for 2Q24 points to softness in revenue due to lower demand in EV, solar, and industrial markets.
- Navitas Semiconductor's customer pipeline continues to grow across segments, growing 28% from just the December 2023 investor day.
- In the data center segment, AI is resulting in a growing need for its products, while the EV pipeline increased by more than 50%.
- Management remains focused on profitability, with the key $50 million quarterly revenue mark needed to reach operating profit breakeven.
Navitas Semiconductor ( NVTS ) reported earnings in May, and the market sold off the stock.
In this earnings review, I will share more about my views about the 1Q24 report....
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For further details see:
Navitas Semiconductor: Setting Up For 2025