What's Happening With Navitas Semiconductor Stock Wednesday?
Shares of Navitas Semiconductor Corp. (NASDAQ: NVTS ) are trading flat Wednesday afternoon as investors weigh a major defense contract and fresh antitrust clearance. Here’s what investors need to know. Navitas Semiconductor shares are under pressure. What’s pulling NVTS shares down? FTC Clears $232.8M Claros Acquisition On Wednesday, Navitas secured early termination of the Hart-Scott-Rodino antitrust review from the U.S. Federal Trade Commission regarding its pending $232.8 million acquisition of Claros. The regulatory clearance removes a primary closing hurdle for the transaction. Management has highlighted the Claros integration as a critical step in expanding Navitas’s total addressable market and scaling its footprint across high-voltage infrastructure applications. U.S. Army Silicon Carbide Contract The antitrust nod follows another significant corporate milestone announced late Monday, when the U.S. government selected Navitas to develop next-generation 10 kilovolt silicon carbide power semiconductors. Backed by the U.S. Army under the ALATTIS award, the program is designed to advance power technology for mission-critical defense systems. "The ALATTIS award marks a significa
Shares of Navitas Semiconductor Corp. (NASDAQ: NVTS ) are trading flat Wednesday afternoon as investors weigh a major defense contract and fresh antitrust clearance. Here’s what investors need to know. Navitas Semiconductor shares are under pressure.
What’s pulling NVTS shares down? S. 8 million acquisition of Claros. The regulatory clearance removes a primary closing hurdle for the transaction.
Management has highlighted the Claros integration as a critical step in expanding Navitas’s total addressable market and scaling its footprint across high-voltage infrastructure applications. S. S. government selected Navitas to develop next-generation 10 kilovolt silicon carbide power semiconductors.
S. Army under the ALATTIS award, the program is designed to advance power technology for mission-critical defense systems. "The ALATTIS award marks a significant milestone in advancing ultra-high-voltage silicon carbide (SiC) power devices and recognizes Navitas’ over 20 years of innovation in delivering reliable, ultra-high-voltage, high-power SiC technologies," said Siddarth Sundaresan, SVP and Chief Technology Officer at Navitas.
"This program enables Navitas to extend its leadership beyond SiC MOSFETs by developing next-generation 10 kV SiC IGBTs built on our unique, patented trench-assisted planar architecture and integrated with advanced PiN diode technologies," Sundaresan added. 64 at the time of publication on Wednesday, according to Pro data. Read Also: Palo Alto Stock Rises on Cool Inflation, Easing Fed Fears Image: Shutterstock