Navitas Semiconductor (NVTS) Witnesses Prominent Rise In Stock Price

Navitas Semiconductor Corporation (NASDAQ: NVTS) is presently observing a notable surge in its stock valuation. Navitas has registered a gain of 7.65% and reaching $4.08 as of the last check during current trading session. This increment in NVTS shares is notably concurrent with the announcement of the forthcoming release date of its financial performance report.

Navitas Semiconductor (NVTS) has disclosed plans to unveil its financial results for the first quarter of 2024 subsequent to the closure of the market on Thursday, May 9th, 2024. Navitas Management is scheduled to conduct a conference call and a live webcast on the same evening to present the company’s financial status and address inquiries from the financial analyst community.

Furthermore, Navitas Semiconductor has recently publicized that Virtual Forest, a prominent electronics design entity in India specializing in motor control and human interface technologies for consumer appliances, fluid movement, and mobility, has adopted its GaNFast power integrated circuits (IC) technology for a potent 3 hp (2,250W) solar-powered irrigation pump.

In numerous agricultural regions globally, the irrigation of distant crops necessitates potent pumps to elevate water from rivers and streams to field-level, with the majority of these pumps being powered by environmentally detrimental and noisy diesel generators or costly, inefficient long-distance electrical cables.

This low-power, 3-hp (2,250-watt) pump may be accessed remotely using quad-band Internet of Things technology. It possesses the capability to raise over 50 gallons-per-minute of water to a height exceeding 90 feet, sufficient for watering 3 acres of farmland and facilitating the production of 10 tonnes of wheat. Moreover, the IoT-enabled solar pump ensures judicious water utilization through intelligent analytics, thereby minimizing groundwater exploitation.

The solar-pump market in India, valued at $450 million, is projected to burgeon to $1.5 billion by 2026, underscoring the imperative of a solar revolution in Indian agricultural landscapes. Reliable off-grid systems are pivotal in addressing food insecurity and enhancing energy efficiency. By harnessing Navitas’ high-power and efficient GaNSense half-bridge technology, Virtual Forest endeavors to furnish a resilient solution to meet market demands.

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