Magnachip Partners with Navitas to License High-Voltage SiC Tech
MX sits 78% above its 52-week low of $2.18 on light trading volume (0.3× avg).
Summary
Magnachip has entered a strategic partnership with Navitas to license its GaNSiC technology for high-voltage and ultra-high-voltage silicon carbide devices, covering 1200V, 2300V, 3300V and higher. This gives Magnachip access to advanced SiC IP, potentially accelerating its entry into high-growth power markets like EVs and industrial. The deal also includes broader engagement beyond SiC, with further details to come. For a $133M market cap company, a technology licensing deal with a recognized GaN/SiC player is a material positive, signaling a credible path to expand its Power Solutions segment. The partnership follows the recent appointment of a new CEO and the activation of a $50M ATM program, suggesting a strategic push to revitalize growth.
At the time of this announcement, MX was trading at $3.87 on NYSE in the Technology sector, with a market capitalization of approximately $133.2M. The 52-week trading range was $2.18 to $9.86. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.