Navitas Semiconductor Corp's (NVTS) update on its 800-volt power system has drawn caution from Craig-Hallum, which noted that the announcement is largely a reiteration of information first shared in May this year.

Craig-Hallum noted the sharp rise in Navitas' stock price, which briefly surpassed $12 in premarket trading, and stated that the stock was "getting ahead of itself." 

The firm noted the company has yet to secure confirmed design wins related to the 800V platform. Navitas Semiconductor's stock traded over 16% higher and was the top trending ticker on Stocktwits on Tuesday morning. 

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