Navitas Semiconductor (NVTS) Jumps 17% After One-Month Low

We recently published 10 Stocks Powering Into 2026 With Explosive Gains. Navitas Semiconductor Corp. (NASDAQ:NVTS) is one of the top performers on Friday.

Navitas Semiconductor soared by 17.37 percent on Friday to close at $8.38 apiece as investors resorted to bargain-hunting after falling to a one-month low in the previous trading day.

The rally was supported by an overall optimism for the artificial intelligence industry, despite the lack of fresh developments to spark buying appetite.

Navitas Semiconductor Corp. (NASDAQ:NVTS) develops ultra-efficient gallium nitride (GaN) semiconductors for electric vehicles, data centers, consumer electronics, and renewable energy, among others.

In the recently concluded quarter, the company said that it was targeting to rake in revenues of $7 million at the midpoint, significantly lower than the $18 million in the same period last year.

The outlook reflects its strategic decision to deprioritize low power and pivot to higher power revenue and customers, streamline its distribution network and reduce channel inventory, as well as lower profit expectations from China mobile and consumer business.

In the third quarter of the year, Navitas Semiconductor Corp. (NASDAQ:NVTS) widened its net loss by 2.5 percent to $19.2 million from $18.7 million in the same period last year.

Net revenues fell by 53 percent to $10 million from $21.68 million year-on-year.

While we acknowledge the potential of NVTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.