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Navitas Semiconductor Corp (NASDAQ:NVTS) announced Tuesday that shareholders approved all proposals at the company’s 2025 annual meeting, according to a statement based on a recent SEC filing.
Shareholders reelected Gene Sheridan, Ranbir Singh, and Cristiano Amoruso as Class I directors. Each will serve on the board until the 2028 annual meeting and until their successors are elected and qualified. The vote counts for the nominees were as follows: Sheridan received 79,516,849 votes in favor and 2,916,681 votes withheld; Singh received 73,304,449 votes in favor and 9,129,081 votes withheld; Amoruso received 75,380,362 votes in favor and 7,053,168 votes withheld. There were 47,743,002 broker non-votes for each nominee. The company, with a market capitalization of $1.26 billion, faces important strategic decisions as analysts expect a sales decline this year.
Stockholders also approved, on an advisory basis, the compensation of the company’s named executive officers. The “say on pay” resolution received 78,102,368 votes in favor, 2,531,474 votes against, and 1,799,688 abstentions, with 47,743,002 broker non-votes.
Additionally, shareholders ratified the appointment of KPMG LLP as Navitas Semiconductor’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The audit ratification received 122,117,163 votes in favor, 274,106 votes against, and 7,785,263 abstentions.
The results were disclosed in a press release statement and detailed in the company’s filing with the U.S. Securities and Exchange Commission.
In other recent news, Navitas Semiconductor announced a strategic partnership with Powerchip Semiconductor Manufacturing Corporation to produce 200mm gallium nitride (GaN) on silicon technology. This collaboration is expected to enhance performance and cost efficiency, with initial device qualification anticipated in the fourth quarter of 2025. Navitas also revealed a significant collaboration with NVIDIA (NASDAQ:NVDA) to develop an advanced 800V high-voltage direct current architecture for AI data centers, leveraging its GaNFast and GeneSiC technologies. This partnership is seen as a major step in addressing growing power demands in modern AI data centers.
Deutsche Bank (ETR:DBKGn) recently downgraded Navitas from Buy to Hold, despite raising its price target to $7.00, following a 250% surge in Navitas shares due to the NVIDIA deal. Deutsche Bank views the collaboration as a strong endorsement of Navitas’ technologies, projecting significant growth in data center-related revenue over the coming years. Meanwhile, Needham adjusted Navitas’ price target to $3.00, maintaining a Buy rating, due to concerns about tariff volatility and a postponed solar opportunity.
Furthermore, Navitas appointed Cristiano Amoruso to its board of directors, with expectations of leveraging his experience to drive growth in sectors like data centers and electric vehicles. The company is also navigating potential risks related to tariffs, particularly affecting its Silicon Carbide segment. Analysts at Needham have noted that these trade uncertainties could impact Navitas’ future growth projections.
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