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 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.
NVTS Stock Pauses Wednesday Afternoon
NVTS Price Action: Navitas Semiconductor shares were down 0.85% at $11.64 at the time of publication on Wednesday, according to Benzinga Pro data.
Image: Shutterstock