Navitas Semiconductor adds new board member

TORRANCE, Calif. - Navitas Semiconductor (NASDAQ: NVTS), a company specializing in gallium nitride (GaN) power ICs and silicon carbide (SiC) technology, announced the appointment of Cristiano Amoruso as a new member of its board of directors. Mr. Amoruso, whose appointment is effective immediately, previously served as CEO of Suniva, Inc., a major U.S.-based solar photovoltaic semiconductor manufacturer, and as a partner at Lion Point Capital, L.P. According to InvestingPro data, Navitas maintains a strong financial position with more cash than debt on its balance sheet and a healthy current ratio of 5.61x.

Richard Hendrix, chair of the Navitas board, expressed confidence in Amoruso’s ability to drive growth and help the company capitalize on the growing market for its technologies. Amoruso’s experience is expected to be particularly valuable as Navitas seeks to expand its presence in sectors such as data centers, solar power plants, and electric vehicles. The company’s stock has shown significant momentum recently, with InvestingPro reporting a 9.5% return over the last week, though analysts anticipate sales challenges in the current year.

Amoruso will stand for election as an independent Class I director at Navitas’s 2025 annual stockholders’ meeting, alongside Gene Sheridan and Ranbir Singh. Further details regarding his election will be included in the company’s definitive proxy statement, which will be filed with the U.S. Securities and Exchange Commission.

Navitas has positioned itself as a leader in next-generation power semiconductors, with a decade of innovation since its founding in 2014. Its GaNFast power ICs are designed to deliver faster charging, higher power density, and greater energy savings across a variety of applications. The company also offers GeneSiC power devices for high-power, high-voltage, and high-reliability solutions.

The appointment of Amoruso comes at a time when Navitas is looking to strengthen its corporate governance and accelerate its path to profitability, as stated by Hendrix. The company, which holds over 300 patents issued or pending, has also been recognized as the world’s first semiconductor company to be CarbonNeutral® certified. With a market capitalization of approximately $403 million and trading near its InvestingPro Fair Value, investors can access detailed financial health metrics and 12 additional ProTips through InvestingPro’s comprehensive research platform.

This announcement is based on a press release statement from Navitas Semiconductor Corporation. The company cautions that statements and information in the press release that are not historical are forward-looking and subject to risks, uncertainties, and assumptions that could cause actual events or results to differ materially from expectations.

In other recent news, Navitas Semiconductor reported its first-quarter 2025 earnings, aligning with market expectations. The company recorded a loss per share of $0.06 and achieved revenue of $14 million, both matching analyst forecasts. Despite challenges in the semiconductor market, including inventory corrections and slowing demand in the EV and solar sectors, Navitas maintained its revenue forecast. Looking ahead, the company anticipates growth in late 2025, driven by solar and EV applications, with a revenue guidance for Q2 2025 between $14 to $15 million. Needham recently adjusted Navitas’ stock price target to $3.00 from $4.00, while maintaining a Buy rating. This decision reflects concerns about tariff volatility and a postponed solar opportunity, which have influenced the firm’s outlook on Navitas’ growth projections. The company’s supplier footprint exposes it to trade risks, prompting a conservative stance for future forecasts. Navitas’ strategic focus on GaN and silicon carbide technologies positions it well for future growth, with a strong pipeline of design wins.

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