Navitas Semiconductor Corp's stock surged 11.66% intraday, marking a significant upward movement for the semiconductor company.

The price movement represents a continuation of a technical oversold rebound that began after a period of selling pressure. This rebound follows weak first-quarter earnings, which showed an EPS loss widening by 66.7% year-over-year and declining gross margins, coupled with the company's announcement of a planned $125 million stock offering that raised dilution concerns. With these negative catalysts now absorbed by the market, technical buying demand has driven the sustained recovery.

Furthermore, the broader semiconductor sector provided supportive momentum, with positive sentiment across chip stocks creating a favorable backdrop for continued buying interest in Navitas Semiconductor.