Navitas Licenses GeneSiC Tech to Magnachip, Targeting High-Voltage SiC Markets
NVTS has more than doubled off its 52-week low of $5.44.
Summary
Navitas Semiconductor has entered a strategic partnership with Magnachip, granting a license to its GeneSiC trench-assisted planar technology for high-voltage and ultra-high-voltage silicon carbide applications. The deal covers 1200V, 2300V, 3300V and higher voltages, targeting energy infrastructure, storage, industrial electrification, and automotive markets. Magnachip gains access to Navitas' supply chain and materials ecosystem, with plans to port and qualify the technology at its South Korean fab, accelerating its SiC market entry. This follows a period of significant insider selling and a patent lawsuit from Wolfspeed, making the partnership a notable positive development that could expand Navitas' technology reach and royalty stream. The companies also hinted at broader future collaboration beyond SiC. For Magnachip (MX), the deal opens a new high-growth segment, complementing its existing MOSFET portfolio.
At the time of this announcement, NVTS was trading at $12.25 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.9B. The 52-week trading range was $5.44 to $34.17. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.