Surging Semiconductor Sales and Notable Innovations: Spotlight Nasdaq Small-Caps: PRSO, NVTS, INDI, AIP, INBS and NVIDIA

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Semiconductor sales have surged significantly, reaching $50.6 billion in March 2024. This marks a 16.4% increase from the previous month and a 15.7% year-over-year growth, according to the Semiconductor Industry Association. These figures exceeded Citibank’s projections. This feature will delve into four Nasdaq small-cap semiconductor stocks that are worth monitoring, in addition to NVIDIA Corporation (NASDAQ: NVDA).

Pesaro Inc. (NASDAQ: PSRO), a leader in 60 GHz unlicensed and 5 GHz mmWave wireless technology, provides IP, antenna modules, software, and chipsets. The company made headlines on April 30 after announcing that it would release its financial results for the first fiscal quarter of 2024 on May 13, following the market’s close. Additionally, on April 16, news surfaced that Panasonic System Networks R&D Lab Co. Ltd. had integrated Pesaro’s X710 chipset into its new 60GHz WLAN connection. In a significant move on April 16, Pesaro Inc. announced that Panasonic System Networks R&D Lab Co. Ltd. has adopted its X710 chipset for a new 60GHz WLAN solution. This collaboration is notable given Panasonic’s global prominence in enterprise and consumer technology.

Navitas Semiconductor (NASDAQ: NVTS), a pioneer in GaNFast gallium nitride (GaN) and GeneSiC silicon carbide (SiC) technologies, announced on April 25 its participation in the China Electronic Hotspot Solutions Innovation Summit. Scheduled for April 27 in Shenzhen, this event convened leading figures from the power semiconductor sector and associated customer design teams focused on innovations across various fields. Jacky Xiao, the company’s technical marketing manager, was set to deliver a keynote address at the summit.

Indie Semiconductor Inc. (NASDAQ: INDI), an innovator in autotech solutions, garnered attention on April 22 when it unveiled a new series of high-performance retimers and video converters designed to enhance in-cabin connectivity applications. The company stated that these products would significantly broaden its range of in-cabin solutions. Additionally, the products enable global Tier 1 system integrators to deliver top-tier experiences to automakers. Indie Semiconductor also highlighted that increasing consumer expectations for immersive and interactive in-cabin experiences are likely to drive further industry growth.

Arteris Inc. (NASDAQ: AIP), a leader in system IP for accelerating system-on-chip (SoC) development, announced on May 2 its financial results for the first fiscal quarter ending March 31, 2024. The company reported revenues of $12.9 million and a net loss of $9.4 million, equivalent to $0.25 per share. Arteris also noted an annual contract value (ACV) and trailing twelve-month (TTM) variable royalties totaling $58.2 million, representing a year-on-year increase of 6%. The operating loss for the quarter was recorded at $9.1 million.

Ladenburg Thalmann, a renowned Wall Street firm founded in 1876, issued a buy rating and target price of $12 for Intelligent Bio Solutions Inc. (NASDAQ: INBS), a leader in medical technology, is making strides with its innovative fingerprint drug testing device. This product offers a quick, efficient alternative to traditional urine or saliva tests, which can be costly, slow, and hazardous. There’s a growing need for faster, reliable, and economical drug testing solutions, especially in workplace environments. Market forecasts suggest an expansion from $5.3 billion in 2023 to approximately $28.3 billion by 2032. Intelligent Bio Solutions is set to secure a considerable market share with its pioneering fingerprint testing technology. For more insights, read the full TalkMarkets article.