Despite the recent tech sell-off, several semiconductor stocks have logged gains this year. Since the start of 2026, Nvidia (NVDA -1.01%) and Broadcom have risen about 3% and 5%, respectively.
One semiconductor specialist, however, has outpaced all of them, and it's a name that many investors probably don't even know.
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Rubbing shoulders with Nvidia has a funny way of leading a stock to grow in popularity
While Nvidia is perhaps the most usual of suspects when talk of semiconductor specialists supporting AI bubbles up, Navitas Semiconductor (NVTS -9.23%) has gained wide recognition over the past few months. In March, Navitas introduced its newest DC-DC power delivery board, which allows for direct conversion from 800 volts to 6 volts in one power stage.
NASDAQ: NVTS
Key Data Points
According to Navitas, this new solution maximizes "system efficiency, reliability, and valuable real estate, to deliver a simple power delivery solution to support advanced Nvidia AI infrastructure." Furthermore, Navitas contends that its architecture meets the needs of data centers as accelerated computing platforms place substantial power demands on their infrastructure.
With analysts expressing bullish views on Navitas stock, investors had further reason to buy shares. In May, Morgan Stanley hiked its price target on Navitas stock to $12.50 from $4.20, while Baird raised its price target to $20 from $9.
Is Navitas stock a buy after its strong 2026 performance?
At this point, many AI investors are familiar with the extraordinary power requirements that AI computing imposes on data centers. Given Navitas's ability to offer a solution that improves power efficiency at the higher voltages used by AI-specialized data centers, it's clear why investors have found Navitas stock so appealing in 2026.
Trading at 92 times sales, Navitas stock is changing hands at a steep premium to its five-year average P/S ratio of 11.8. At this point, the market's high expectations are clearly priced into the stock, and investors considering semiconductor stocks should wait for Navitas stock to pull back further before opening positions.
