Is Navitas Semiconductor a Buy?
Shares of Navitas Semiconductor (NASDAQ: NVTS) have soared 284% over the past 12 months, as investors have loaded up on tech stocks that could benefit from the artificial intelligence (AI) boom. In May, the share price rocketed 164% higher in a single day, on news that Navitas is developing cutting-edge semiconductor technology to support Nvidia's new high-voltage power system for data centers.
But the chipmaker's third-quarter results were a reality check. Navitas shares have tumbled 27% since the company reported a steep drop in third-quarter revenue and a widening net loss. With the stock continuing to drift lower as of this writing, is this a golden opportunity to pick up cheaper shares before Navitas gets its mojo back? Or was the dreadful quarter a glaring red flag warning investors to stay away?
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Source Fool.com
