Wolfspeed

Wolfspeed, Inc. is an innovator of Wolfspeed power and radio frequency (RF) semiconductors. Its Wolfspeed product families include silicon carbide materials, power-switching devices and RF devices targeted for applications such as electric vehicles, fast charging inverters, power supplies, telecom and military and aerospace. The company was founded by Calvin H. Carter Jr., John W. Palmour, F. Neal Hunter, Eric Hunter, and John Edmond in 1987 and is headquartered in Durham, NC.

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Wolfspeed reports revenue growth and record design-ins, faces ramping challenges

Wolfspeed's Q3 performance showed revenue growth and record design-ins, but challenges with ramping materials capacity impacted cash burn. Despite this, the company's strengths lie in its strategic vision, strong design-in conversion rate, and confidence in power device growth. Opportunities exist in expanding the silicon carbide market and reaching 20% fab utilization by 2024.

Wolfspeed faces supply chain challenges but sees growth in silicon carbide

Wolfspeed faces challenges with supply chain issues impacting revenue, but strong demand for silicon carbide presents growth opportunities. The company's focus on new facilities and cautious approach to ramp-ups position it for future success.

Wolfspeed reports robust Q3 earnings, eyes growth amid funding challenges

Wolfspeed's Q3 performance reflects strong revenue growth and record design-ins, but challenges in gross margin and cash flow management persist.
Despite these challenges, the company's solid liquidity position, revenue targets for 2024, and focus on capacity expansion present growth opportunities.
Navigating funding needs, operational expenses, and ramping delays will be key focus areas for Wolfspeed to achieve its growth targets and maintain customer loyalty.

Wolfspeed secures $5B for expansion, targets $1B revenue in 2024

Wolfspeed's strong financial position, strategic customer agreements, and focus on silicon carbide technology position them for future growth. Despite challenges in yield and start-up costs, they are making progress in expanding capacity and improving margins. The company's emphasis on R&D and operational efficiency bodes well for their long-term success.

Wolfspeed excels in Q1, anticipates supply-demand mismatch opportunities

Wolfspeed's Q1 2024 performance exceeded expectations, showcasing operational excellence and market demand.
Despite challenges in certain sectors, the company remains confident in its long-term strategy and market position.
Strong focus on capacity expansion, raw materials investment, and optimizing balance sheet to drive growth.
Anticipated supply-demand mismatch presents opportunities for revenue growth and market leadership in silicon carbide.

Wolfspeed reports robust Q2 earnings, eyes EV market growth

Wolfspeed's Q2 performance reflects strong revenue growth and operational improvements, supported by a solid financial position.
While facing challenges with underutilization costs and gross margin expectations, the company is well-positioned to capitalize on long-term demand for silicon carbide devices.
Exciting opportunities in the EV industry and a favorable market environment for materials underscore Wolfspeed's growth potential.
Operational efficiency gains and strategic customer agreements position Wolfspeed for continued success in the semiconductor market.

Wolfspeed reports robust Q3 revenue and design wins, eyes positive EBITDA

Wolfspeed's Q3 showcased strong revenue growth and design wins, but challenges in margins and design wins persist. The company's focus on silicon carbide technology and operational improvements drives confidence. Opportunities lie in positive EBITDA outlook and ramping key projects.

Wolfspeed reports $201M revenue in Q4, focuses on cost optimization

Wolfspeed's Q4 performance reflects strong revenue growth and operational improvements, despite challenges in gross margins. With a focus on cost reduction and profitability enhancement, the company aims to achieve positive EBITDA and operating cash flow by early fiscal 2026.

Wolfspeed restructures for growth, targets $3B revenue, and EV market

Wolfspeed is strategically positioning itself for growth by focusing on operational efficiency, revenue diversification, and cost-saving initiatives. While facing short-term challenges from restructuring efforts, the company aims to capitalize on EV market growth and streamline its operations for profitability.

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Wolfspeed, Inc. is an innovator of wide bandgap semiconductors, focused on silicon carbide and gallium nitride (GaN) materials and devices for power and radio-frequency (RF) applications. Its product families include silicon carbide and GaN materials, power devices and RF devices, and its products are targeted for various applications such as electric vehicles, fast charging, 5G, renewable energy and storage, and aerospace and defense. The company was founded by Calvin H. Carter Jr., John W. Palmour, F. Neal Hunter, Eric Hunter, and John Edmond in 1987 and is headquartered in Durham, NC.

Wolfspeed Inc (NYSE:WOLF) announced earlier it signed a 10-year deal worth roughly $2 billion to supply semiconductor concern Renesas Electronics with silicon carbide bare and epitaxial wafers.

Wolfspeed Stock Surges on Massive Supply Deal

MP Materials

Markets looked as though they would ease lower after the Fourth of July holiday. Wolfspeed entered into a long-term supply agreement for silicon carbide semiconductor materials.

These 2 Stocks Are Defying a Post-July 4 Down Market

Wolfspeed executes a $2 billion deposit from Renesas to secure a 10 year supply commitment of wafers.

Wolfspeed Stock Surges on 10-Year Deal to Supply Chip Wafers to Renesas

Wolfspeed Inc. WOLF, +2.07% stock is up 15.4% in premarket trades on Wednesday after the silicon carbide materials specialist said it executed a $2 billion deposit from Renesas Electronics Corp 6723, +1.78% for a 10-year supply of its silicon carbide bare and epitaxial wafers. The deal will, “pave the way for Renesas to scale production of silicon carbide power semiconductors starting in 2025,” Renesas said.

Wolfspeed stock moves up sharply on $2 bln payment for wafers

TOKYO & DURHAM, N.C.--(BUSINESS WIRE)-- #Renesas--Announced a wafer supply agreement and $2 bn deposit by Renesas to secure a 10 year supply commitment of silicon carbide wafers from Wolfspeed.

Renesas and Wolfspeed Sign 10 Year Silicon Carbide Wafer Supply Agreement

NVIDIA

Nvidia's high-end data center GPUs make it a top AI chipmaking play. Wolfspeed expects the growing demand for silicon carbide chips, which are more resilient than silicon chips, to drive its long-term expansion.

Better Buy: Nvidia vs. Wolfspeed

Wolfspeed, Inc. has used strong financing markets to raise a lot of cheap convertible debt in recent years after a capital-intensive strategic change. More debt needs to be issued to fund losses and large capital investments, this time near 10% coupons. The combination of large operating losses, huge net capital investments, and an underwhelming 2024 outlook causes real concerns, amidst changed financing markets.

Wolfspeed Stock: Uncertain Situation

Apollo Global Management

A group of lenders led by private-equity firm Apollo Global Management (NYSE:APO) Inc is providing as much as $2 billion to Wolfspeed Inc to support the semiconductor maker's expansion in the US, according to Bloomberg. The news agency reported that the financing makes $1.25 billion of cash immediately available to the Durham, North Carolina-based chip maker, while another $750 million can be drawn later.

Apollo marshals $2B direct lending deal for US chip maker Wolfspeed

DURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF), the global leader in silicon carbide technology, today announced a $1.25 billion secured note financing from an investment group led by Apollo (NYSE: APO), with an accordion feature for up to an additional $750 million. The financing supports the company's previously announced U.S. expansion efforts and is a significant step toward achieving the company's $6.5 billion global capacity expansion plan. Execution of Wolfspeed's U.S. growt.

Wolfspeed Announces $1.25 Billion Funded Secured Notes Led by Apollo Credit Funds

Apollo Global Management is leading a group of lenders making a debt investment of as much as $2 billion in chip-maker Wolfspeed Inc. to support its U.S. expansion plans, according to reports Sunday.

Apollo leads big debt investment in chip maker Wolfspeed: reports

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The company makes various equipment systems for SiC, GaN, Optoelectronics, and MicroLED semiconductors.

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LOS ANGELES, CA / ACCESSWIRE / May 24, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Wolfspeed, Inc. ("Wolfspeed" or "the Company") (NYSE:WOLF) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

SHAREHOLDER ACTION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against Wolfspeed, Inc. and Encourages Investors with Losses to Contact the Firm

WOLF has had trouble moving to 200mm wafers at its new facility. The company issued very weak FY24 guidance as a result, with low assumptions for the facility to ramp up.

Wolfspeed: Kitchen Sinked FY2024 Guidance Is An Opportunity

LOS ANGELES, CA / ACCESSWIRE / May 10, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Wolfspeed, Inc. ("Wolfspeed" or "the Company") (NYSE:WOLF) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

SHAREHOLDER INVESTOR ALERT: The Schall Law Firm Announces it is Investigating Claims Against Wolfspeed, Inc. and Encourages Investors with Losses to Contact the Firm

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The strength in stock market indices in 2023 is masking the stocks to sell now. Investors may remain vigilant in noticing the stocks flash red flags after firms posted quarterly results.

Investor Alert: 3 Stocks Flashing Major Warning Signs

LOS ANGELES, CA / ACCESSWIRE / May 3, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Wolfspeed, Inc. ("Wolfspeed" or "the Company") (NYSE:WOLF) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

SHAREHOLDER ACTION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against Wolfspeed, Inc. and Encourages Investors with Losses In Excess of $100,000 to Contact the Firm

Wolfspeed is one of the few semiconductor stocks down year to date.

Wolfspeed Stock Collapses; Time to Buy This Growing EV Semiconductor Stock?

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Silicon carbide chips are projected to display exponential growth over the next decade. However, getting production up and running is proving to be a bigger technical challenge than some initially thought.

Why Silicon Carbide Stocks Wolfspeed, STMicroelectronics, and Allegro MicroSystems Plunged This Week

The niche tech industry manufacturer released its latest set of quarterly results. These edged past analyst estimates, but guidance fell short.

Why Wolfspeed Stock Plummeted by Nearly 20% Today

Wolfspeed's (WOLF) third-quarter fiscal 2023 results reflect strong top-line growth, partially offset by contracting gross margin.

Wolfspeed (WOLF) Q3 Loss Narrows, Revenues Increase Y/Y

Wolfspeed Inc. (WOLF) Q3 2023 Earnings Call Transcript.

Wolfspeed Inc. (WOLF) Q3 2023 Earnings Call Transcript

Wolfspeed (WOLF) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.15. This compares to loss of $0.12 per share a year ago.

Wolfspeed (WOLF) Reports Q3 Loss, Tops Revenue Estimates

Wolfspeed Inc. shares declined more than 5% in after-hours trading Wednesday, as the silicon-carbide chip maker projected disappointing revenue figures for the fiscal fourth quarter and next year.

Wolfspeed stock slumps as revenue forecast disappoints after new factory opens

DURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF) today announced its results for the third quarter of fiscal 2023. Quarterly Financial Highlights (all comparisons are to the third quarter of fiscal 2022, unless otherwise noted) Revenue of $228.7 million, compared to $188.0 million GAAP gross margin of 29.8%, compared to 34.0% Non-GAAP gross margin of 32.3%, compared to 36.3% GAAP net loss of $99.5 million, or $0.80 per diluted share, compared to $66.5 million, or $0.54 per diluted sh.

News for Wolfspeed Stock (WOLF)