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. (WOLF) generates frequent news as a semiconductor company focused on silicon carbide and gallium nitride materials and devices. Its announcements cover technology milestones, product introductions, customer collaborations, financial developments and corporate governance changes that are relevant to investors and industry observers.
Recent press releases describe Wolfspeed’s work on wide bandgap semiconductors for power and RF applications, including transportation, power supplies, inverters and wireless systems. The company has reported a technology breakthrough in producing a single crystal 300 mm silicon carbide wafer, which it presents as an important step for AI infrastructure, AR/VR platforms and advanced power devices. News items also highlight Wolfspeed’s 200 mm silicon carbide manufacturing footprint and its efforts to build a vertically integrated, U.S.-based supply chain for silicon carbide materials and power devices.
Wolfspeed’s news flow also includes product-focused updates, such as new 1200 V silicon carbide six-pack power modules for high-power inverters and a 2.3 kV LM Pack Module for wind power converters. The company has announced that its silicon carbide components will be used in onboard charger systems for battery electric vehicles from major automotive manufacturers and in wind power converters from renewable energy technology providers.
In addition, Wolfspeed issues news about its financial and capital structure, including cash tax refunds related to the Advanced Manufacturing Investment Credit, its emergence from Chapter 11 reorganization, and changes to its board and executive leadership. Readers of WOLF news can track how Wolfspeed communicates its strategy in markets such as AI data centers, electric vehicles, industrial and energy systems, aerospace and defense and renewable energy. This news page aggregates those updates so that users can review company announcements and related coverage in one place.
Wolfspeed (NYSE: WOLF) has appointed Dr. David Emerson as Executive Vice President and Chief Operating Officer in a newly created role. Dr. Emerson, former Executive VP of Wolfspeed's LED Products division, will oversee operations, supply chain, and quality divisions across the company's 200-millimeter facility footprint. The appointment aligns with Wolfspeed's strategic focus on operational excellence and transition to pure-play 200-millimeter production.
CEO Robert Feurle highlighted Dr. Emerson's experience in leading the LED business through market disruption and global expansion. The role is crucial for reaccelerating revenue growth, achieving profitability, and completing the 200-millimeter transition. Dr. Emerson will focus on reducing customer lead times, enhancing manufacturing quality, and ensuring consistent delivery of silicon carbide solutions for automotive, industrial, and energy markets.
Wolfspeed (NYSE: WOLF) has announced significant changes to its Board of Directors. The company has appointed Paul Walsh, former CFO of Allegro Microsystems, and Mark Jensen, former U.S. Managing Partner of Technology Industry at Deloitte, to its Board. Both will serve on the Audit Committee. Walsh brings extensive semiconductor industry experience and CFO expertise, while Jensen contributes significant finance and accounting background. Meanwhile, Stacy Smith will not seek re-election and will depart before the 2025 annual meeting.
The appointments come as Wolfspeed actively engages with lenders to improve its capital structure, with the new directors expected to provide valuable guidance in restructuring and balance sheet negotiations. The company aims to reach a comprehensive solution that supports its long-term success in silicon carbide technology.
Wolfspeed (NYSE: WOLF) reported its Q3 FY2025 financial results, showing a decline in performance. The company's consolidated revenue decreased to $185 million from $201 million year-over-year. The Mohawk Valley Fab contributed $78 million in revenue, up from $28 million. The company experienced significant margin pressure, with GAAP gross margin falling to -12% from 11%, and non-GAAP gross margin declining to 2% from 15%. Underutilization costs at Mohawk Valley Fab were $26.3 million.
The company highlighted progress in strengthening its capital structure, including completing a $200 million ATM offering and receiving $192 million in Section 48D cash tax refunds. Under new CEO Robert Feurle, Wolfspeed is focusing on its pure-play 200-millimeter capabilities and working with lenders to address its capital structure.
Wolfspeed announced that Neill Reynolds will step down from his position as Executive Vice President and Chief Financial Officer, effective May 30, 2025. Reynolds has agreed to remain with the company until this date to facilitate ongoing negotiations with lenders and assist in strengthening the company's capital structure.
The transition comes at a crucial time as Wolfspeed continues its liability-management initiatives. Reynolds will participate in the company's fiscal third quarter earnings call on May 8. Thomas Werner, Executive Chairman, expressed gratitude for Reynolds' contributions and commitment during this transition period.
The company has initiated a search for a permanent CFO through a leading executive-search firm, considering both internal and external candidates. Importantly, Wolfspeed has reaffirmed its previously announced financial guidance for the third quarter of fiscal 2025.
Wolfspeed (NYSE: WOLF), the global leader in silicon carbide technology, has scheduled its fiscal third quarter earnings conference call and audio webcast for May 8, 2025, at 5:00 pm Eastern Standard Time. The earnings call will feature presentations from Thomas Werner (chairman of the board), Robert Feurle (chief executive officer), and Neill Reynolds (chief financial officer). Investors can access both the live webcast and earnings release through Wolfspeed's Investor Relations website.
Wolfspeed (NYSE: WOLF) has received $192.1 million in cash tax refunds from the advanced manufacturing tax credit under Section 48D, including $186.5 million for fiscal 2023 and 2024 taxes plus interest. This is part of approximately $1 billion in total expected Section 48D refunds, with over $600 million anticipated in fiscal 2026.
The company reaffirmed its Q3 FY2025 guidance, projecting revenue of $170-200 million, with a non-GAAP gross margin of -3% to 7% and a GAAP net loss of $(295)-$(270) million. Wolfspeed expects its cash balance to reach approximately $1.3 billion by the end of Q3 FY2025.
The company also confirmed its previous guidance including reduced capital expenditures for FY2026-2027, targeting EBITDA break-even at $800 million annual revenue, and projecting positive levered free cash flow in FY2027. Wolfspeed continues discussions with lenders, including Apollo and Renesas, while maintaining dialogue with the U.S. Department of Commerce regarding federal funding.
Wolfspeed (NYSE: WOLF), the global leader in silicon carbide technology, has appointed Robert Feurle as its new Chief Executive Officer, effective May 1, 2025. Feurle, a semiconductor industry veteran with over 20 years of experience, will succeed Thomas Werner, who will return to his role as Chairman of the Board.
Feurle brings extensive experience from leadership roles at major semiconductor companies, most recently serving as Executive VP and GM of the Opto Semiconductors Business Unit at ams-OSRAM AG, where he managed over 10,000 employees globally. His track record includes successful tenures at Infineon Technologies, Micron Technology, Qimonda, and Siemens.
The new CEO will focus on improving Wolfspeed's financial performance, accelerating its path to positive free cash flow, and strengthening its balance sheet. Feurle, who holds dual US-German citizenship, will relocate to the company's Durham, North Carolina headquarters.
Wolfspeed (NYSE: WOLF), the global leader in silicon carbide technology, has announced it will host a conference call and audio webcast to discuss its second quarter results on January 29, 2025, at 5:00 pm Eastern Standard Time.
The earnings call will be led by Thomas Werner, executive chairman, and Neill Reynolds, chief financial officer. Investors can access the live webcast and earnings release through Wolfspeed's Investor Relations website.
Wolfspeed (NYSE: WOLF) reported Q2 fiscal 2025 results with consolidated revenue of $181 million, down from $208 million year-over-year. The Mohawk Valley Fab contributed $52 million in revenue, up from $12 million. The company reported a GAAP gross margin of -21% and non-GAAP gross margin of 2%, compared to 13% and 16% respectively in the prior year.
The company incurred significant costs, including $28.9 million in underutilization costs and $188.1 million in restructuring-related expenses. For Q3 fiscal 2025, Wolfspeed targets revenue between $170-200 million, with GAAP net loss projected at $(295)-$(270) million, or $(1.89)-$(1.73) per diluted share.
Management is focusing on three priorities: improving financial performance to accelerate operating free cash flow generation, strengthening the balance sheet, and raising cost-effective capital. The company completed a $200 million at-the-market equity offering and is progressing toward finalizing CHIPS funding.