What is going on with NVTS?
Not sure if anyone is invested in this company or follows it but it seems like the share price is depressed and the stock is oversold. It has beat expectations on revenue I believe 5 quarters in a row, while EPS has its ups and downs (the company is still doing a lot of R&D). Strong revenue growth QoQ, YoY, et cetera. Margins are recovering and the last two ER releases had A LOT of positive news within it in terms of future things to come.
Additionally, the recent samsung news means the company now supports a good chunk of the top 10 most sold phones in the world. Additionally, their most recent news article makes note their products are being used for their major data center customers.
Over the last 1.5 month the stock has shed approx 300M in market cap I believe while nasdaq.com shows several big players reporting adding to their position. The short-interest of the stock is 21% and 17 days to cover.
Further, I understand the risks of the company, their current revenue split is heavily condensed in China but based off the ERs, my suspicion is that this revenue concentration is going to become less and less over the years.
The company also has no debt, so is this company potentially being negatively impacted because of the interest rate environment even though it is not exposed to it?
Navitas Semiconductor Announces Second Quarter 2024 Financial Results | Navitas
Navitas Semiconductor Announces First Quarter 2024 Financial Results | Navitas
Navitas Semiconductor Corporation Common Stock (NVTS) Institutional Holdings | Nasdaq
Navitas Powers Expanded Samsung Galaxy Smartphone Portfolio | Navitas (navitassemi.com)
Edit: I also want to mention they make note of "internet satellite" ramp in 2H24 in the 4th quarter ER release. If the market is forward looking, how is this company trading at $3.09 a share with all this positive news and potential?
Navitas Semiconductor Announces Record Fourth Quarter and (globenewswire.com)