Navitas Semiconductor Stock Surges 15% on Board Appointment of Ex-Broadcom Executive

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2026-04-17 06:36:02

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Navitas Semiconductor (NVTS) shares rallied 15.25% following the appointment of Gregory M. Fischer, former Broadcom SVP, to its board. Fischer brings four decades of semiconductor expertise and will join key committees.

The company has delivered 430% returns over the past year, though still trades 45% below its peak. Navitas is pivoting toward data center opportunities, with mobile revenue now under 25% of total sales.

Despite growth, the firm reported a $41 million adjusted loss for 2025, with analysts anticipating continued losses through 2028. Chairman Richard Hendrix noted Fischer joins during a critical expansion phase.

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