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TORRANCE, Calif. - Navitas Semiconductor (NASDAQ:NVTS), a $1.3 billion market cap semiconductor company whose stock has surged over 169% in the past six months, announced Monday that its Board of Directors has appointed semiconductor industry veteran Chris Allexandre as President and Chief Executive Officer, effective September 1, 2025. According to InvestingPro data, the company maintains a strong liquidity position with current assets significantly exceeding short-term obligations.
Allexandre, who will also join the company’s Board of Directors, succeeds co-founder Gene Sheridan, who will step down from his roles as President, CEO and board member on August 31 after an 11-year tenure. The leadership transition comes at a time when InvestingPro analysis indicates the stock is trading above its Fair Value, with analysts having revised their earnings expectations downward for the upcoming period.
The incoming CEO brings more than 25 years of semiconductor industry experience, most recently serving as Senior Vice President and General Manager of Renesas Electronics Corporation’s Power Division, where he oversaw a $2.5 billion power management business.
Prior to Renesas, Allexandre held executive positions at Integrated Device Technology, NXP Corporation, and Fairchild Semiconductor. He began his career at Texas Instruments, progressing through various leadership roles over 16 years.
"With power demand growing in AI data center and critically needed energy infrastructure, I see promising opportunities to drive expansion in these important markets," said Allexandre in the company statement. While the company faces near-term challenges with a revenue decline of 25.7% in the last twelve months, InvestingPro subscribers can access 13 additional investment tips and a comprehensive Pro Research Report, which provides detailed analysis of the company’s growth prospects and market positioning among 1,400+ US equities.
Richard J. Hendrix, Chairman of Navitas’ Board of Directors, stated that Allexandre’s "track record of driving transformation and delivering sustainable and profitable growth" makes him "the right leader for the next chapter of Navitas."
Navitas, which describes itself as the only pure-play, next-generation power semiconductor company, specializes in gallium nitride power ICs and silicon carbide technology for applications including AI data centers and energy infrastructure.
The leadership change comes as the company positions itself to pursue growth in higher-power applications suited for its portfolio of GaN and SiC solutions, according to the press release statement.
In other recent news, Navitas Semiconductor reported its second-quarter 2025 earnings, revealing a larger-than-expected loss with an EPS of -$0.25, compared to a forecasted -$0.05. However, the company’s revenues slightly surpassed expectations, coming in at $14.49 million against a $14.36 million forecast. Despite these results, Rosenblatt lowered its price target for Navitas Semiconductor to $8.00 from $10.00, though they maintained a Buy rating. Meanwhile, Craig-Hallum downgraded Navitas from Buy to Hold, citing poor third-quarter sales guidance influenced by tariff issues and reduced focus on certain markets.
In contrast, Needham raised its price target for the company to $8.00 from $3.00, maintaining a Buy rating despite the below-consensus guidance. Needham anticipates that near-term estimates will be compressed as Navitas reconfigures its Mobile business and deals with tariff uncertainties. These developments reflect a mix of investor sentiment and analyst perspectives as Navitas navigates its current challenges.
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