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Wolfspeed, Inc. - WOLF STOCK NEWS

Welcome to our dedicated page for Wolfspeed news (Ticker: WOLF), a resource for investors and traders seeking the latest updates and insights on Wolfspeed stock.

Wolfspeed, Inc. (NYSE: WOLF) is a pioneering company in the semiconductor industry, specializing in wide bandgap materials. Originating from North Carolina's Research Triangle Park, Wolfspeed has grown to become a global leader in silicon carbide (SiC) and gallium nitride (GaN) technologies.

Wolfspeed focuses on producing advanced semiconductor components for a variety of applications, including transportation, power supplies, inverters, and wireless systems. The company's products are known for their efficiency and high performance, contributing to smaller system sizes and reduced costs across industries. These qualities have made Wolfspeed's components essential in sectors such as electronics, energy, and communications.

In recent news, Wolfspeed has launched a New York Registered Apprenticeship Program (RAP) in collaboration with the National Institute for Innovation and Technology and the U.S. Department of Labor. This initiative is part of the Institute's Growing Apprenticeships in Nanotechnology and Semiconductor (GAINS) program. The apprenticeship aims to develop a skilled workforce for the semiconductor and advanced manufacturing industries.

Wolfspeed's RAP offers on-the-job training and college instruction to apprentices, preparing them for roles such as Equipment Technicians and Industrial Manufacturing Technicians. This program underscores Wolfspeed's commitment to workforce development and capacity expansion at their Mohawk Valley Fab.

Geographically, Wolfspeed derives a significant portion of its revenue from Europe but also maintains a presence in the United States, China, Japan, South Korea, and other regions. The company continues to innovate and expand, driven by a passion for creating efficient and sustainable solutions. For more information, visit www.wolfspeed.com.

News

Wolfspeed To Participate in Upcoming Investor Conference

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Wolfspeed, Inc. (NYSE: WOLF) will have its CEO and CFO participate in a fireside chat at Morgan Stanley's conference. The live webcast will be available on the company's website.
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Wolfspeed Reports Financial Results for the Second Quarter of Fiscal Year 2024

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Wolfspeed, Inc. (NYSE: WOLF) reported a 20% year-over-year revenue growth, with quarterly revenue reaching $208.4 million, and a tripled revenue from Mohawk Valley Fab. The company also achieved record design-wins totaling $2.9 billion, with over 75% related to automotive applications. However, there was a decrease in gross margin, and the company incurred significant underutilization costs of $35.6 million in the second quarter of fiscal 2024.
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Wolfspeed Expands 150mm Silicon Carbide Wafer Supply Agreement with a Leading Global Semiconductor Company

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Wolfspeed, Inc. (NYSE: WOLF) has announced an expanded supply agreement with a leading global semiconductor company, now worth approximately $275 million. The agreement calls for Wolfspeed to supply 150mm silicon carbide bare and epitaxial wafers, reinforcing the industry-wide transition from silicon to silicon carbide semiconductor power devices. The adoption of silicon carbide-based power solutions is rapidly growing across multiple markets, including industrial and EVs. The agreement will enable silicon carbide applications in renewable energy, electric vehicles, charging infrastructure, industrial power supplies, traction, and variable speed drives. Wolfspeed is the global leader in the manufacturing of silicon carbide wafers and epitaxial wafers, expanding its manufacturing capacity in the United States and opening a new, automated materials factory in Siler City, North Carolina later this year.
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Infineon and Wolfspeed Expand and Extend Multi-Year Silicon Carbide (SiC) 150mm Wafer Supply Agreement

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Infineon Technologies AG and Wolfspeed, Inc. have extended their long-term silicon carbide wafer supply agreement, including a multi-year capacity reservation agreement. This expansion contributes to Infineon's supply chain stability amid growing demand for silicon carbide semiconductor products in automotive, solar, EV applications, and energy storage systems. The adoption of silicon carbide-based power solutions is rapidly growing across multiple markets, enabling smaller, lighter, and more cost-effective designs, converting energy more efficiently to unlock new clean energy applications. Wolfspeed is positioned as the world's leader in silicon carbide production, with industry estimates indicating substantial growth in demand for silicon carbide devices and supporting material through 2030, representing a $20 billion annual opportunity.
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Wolfspeed, Inc. Announces Date of Fiscal Second Quarter Earnings Call for January 31st, 2024

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Wolfspeed, Inc. (WOLF) will hold a conference call to discuss its fiscal second quarter 2024 results on January 31st, 2024. The call will be hosted by CEO Gregg Lowe and CFO Neill Reynolds. A live webcast will be available on Wolfspeed's Investor Relations website.
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Wolfspeed Completes Sale of RF Business to MACOM

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Wolfspeed, Inc. (NYSE: WOLF) completed the sale of its radio frequency business to MACOM Technology Solutions Holdings, Inc. for approximately $75 million in cash and 711,528 shares of MACOM common stock. The sale marks the company's transformation into the only pure-play silicon carbide semiconductor manufacturer in the industry, allowing it to focus on innovation and capacity for its materials and power device businesses. Wolfspeed continues to drive the industry transition to silicon carbide with ongoing capacity expansion, including the final build-out of the Mohawk Valley Fab in New York and construction of the John Palmour Manufacturing Center in North Carolina.
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Wolfspeed To Participate in Upcoming Investor Conferences

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Wolfspeed, Inc. (WOLF) CFO Neill Reynolds to participate in fireside chats at Wells Fargo 7th Annual TMT Summit and UBS Global Technology Conference in November.
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Wolfspeed Reports Financial Results for the First Quarter of Fiscal Year 2024

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Wolfspeed, Inc. (NYSE: WOLF) reported a 4% year-over-year quarterly revenue growth, reaching $197.4 million in the first quarter of fiscal 2024. The Mohawk Valley Fab contributed $4.0 million in revenue. The company achieved record design-wins of over $1 billion and device design-ins of $2.2 billion. GAAP gross margin was 12.5% and non-GAAP gross margin was 15.6%. Wolfspeed expects to meet its 20% utilization goal at the Mohawk Valley Fab in Q4 of fiscal 2024.
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Wolfspeed Appoints Thomas Werner as New Board Chair

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Wolfspeed announces Thomas Werner as the new Chairman of the Board. Werner brings vast experience in the energy and semiconductor industries.
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Wolfspeed, Inc. Announces Date of Fiscal First Quarter Earnings Call for October 30th, 2023

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Wolfspeed to discuss fiscal Q1 2024 results in conference call
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FAQ

What is the current stock price of Wolfspeed (WOLF)?

The current stock price of Wolfspeed (WOLF) is $7.04 as of December 20, 2024.

What is the market cap of Wolfspeed (WOLF)?

The market cap of Wolfspeed (WOLF) is approximately 892.7M.

What does Wolfspeed, Inc. specialize in?

Wolfspeed specializes in the production of silicon carbide and gallium nitride semiconductor components for various applications.

What industries does Wolfspeed serve?

Wolfspeed serves industries such as transportation, power supplies, inverters, and wireless systems.

What is Wolfspeed's New York Registered Apprenticeship Program (RAP)?

Wolfspeed's RAP is a training program in collaboration with the National Institute for Innovation and Technology and the U.S. Department of Labor aimed at developing skilled workers for the semiconductor industry.

Where does Wolfspeed generate most of its revenue?

Wolfspeed derives the majority of its revenue from Europe and also has a significant presence in the United States, China, Japan, South Korea, and other countries.

What are the key applications of Wolfspeed's semiconductor products?

Wolfspeed's semiconductors are used in electric vehicles, fast charging stations, renewable energy systems, and wireless communication systems.

How long has Wolfspeed been in operation?

Wolfspeed, formerly a part of Cree Inc., has been operating for nearly 30 years.

What materials does Wolfspeed use in its semiconductor products?

Wolfspeed primarily utilizes silicon carbide (SiC) and gallium nitride (GaN) in its semiconductor products.

What is Wolfspeed's approach to workforce development?

Wolfspeed focuses on workforce development through apprenticeship programs and collaborations with educational institutions to train future industry professionals.

Where can I find more information about Wolfspeed?

More information about Wolfspeed can be found on their official website: www.wolfspeed.com.

What is the GAINS program related to Wolfspeed?

The GAINS (Growing Apprenticeships in Nanotechnology and Semiconductor) program facilitates Wolfspeed's apprenticeship program aimed at developing a skilled workforce for the semiconductor industry.

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Wolfspeed, Inc.

NYSE:WOLF

WOLF Rankings

#2634 Ranked by Market Cap
N/A Ranked by Dividends

WOLF Stock Data

892.72M
126.34M
0.95%
120.63%
29.18%
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