On September 29, Navitas Semiconductor Corp rose 12.45% in after-hours trading, trading at $14.08/share, with turnover of $8.41 million. The rally was driven by continued market enthusiasm over the company's deepening strategic collaboration with Magnachip Semiconductor.

According to SEC filings, Navitas signed a stock purchase agreement with Magnachip on September 19, committing to acquire approximately 1.5 million Magnachip common shares at $3.42 per share for a total investment of $5 million. The transaction is believed to have been completed the prior week. Beyond the equity investment, both companies are actively exploring broader technology and product-level collaboration. Navitas had previously licensed its Genesic silicon carbide technology to Magnachip, targeting the 1200V to 3300V and above high-voltage SiC device market. The partnership aims to accelerate the adoption of high-voltage and ultra-high-voltage SiC solutions across industrial, energy, and electric vehicle applications. Market participants view the expanding alliance as a meaningful catalyst for Navitas's positioning in the global power semiconductor landscape.

(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.)