On October 2, Navitas Semiconductor Corp rose 8.75% in regular trading, trading at approximately $13.18 per share, with turnover of approximately $97.998 million.

On the news front, the stock continued to rally on the back of a recently announced grant from the U.S. Army Research Laboratory. Navitas was awarded the ALATTIS (Accelerated, Large-Area, 10 kV SiC IGBT) program to develop next-generation 10-kilovolt silicon carbide power semiconductor technology. The project, sponsored by the Army Research Lab under the U.S. Army Combat Capabilities Development Command, aims to develop and validate a domestic manufacturing process for ultra-high-voltage semiconductor devices, accelerating the deployment of SiC IGBT technology in mission-critical military systems.

Adding to the positive sentiment, Navitas recently signed a stock purchase agreement with MagnaChip Semiconductor, investing $5 million to acquire approximately 1.5 million shares of MagnaChip common stock at $3.42 per share. The two companies are deepening their strategic collaboration in high-voltage SiC technology, with Navitas having previously licensed its GeneSiC technology to MagnaChip covering 1200V to 3300V and above SiC device markets. The market remains optimistic about the synergy potential in the power semiconductor space.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)