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.
Wolfspeed, Inc. reported a 22% year-over-year revenue growth in Q3 fiscal 2023, achieving $228.7 million in revenue compared to $188.0 million last year. The GAAP gross margin declined to 29.8%, down from 34.0%, while the net loss widened to $99.5 million, or $0.80 per diluted share. Non-GAAP metrics showed a net loss of $16.0 million, with a gross margin of 32.3%. Design-ins totaled $1.7 billion for the quarter. Looking ahead, Wolfspeed anticipates Q4 revenue between $212 million and $232 million and projects fiscal 2024 revenue of $1 billion to $1.1 billion.
Wolfspeed, Inc. (NYSE: WOLF), a leader in Silicon Carbide technology, has announced a conference call on April 26, 2023, at 5:00 pm ET to discuss third quarter fiscal 2023 results. A live audio webcast and earnings release will be available on their Investor Relations website. Wolfspeed focuses on providing solutions in various sectors such as electric vehicles, renewable energy, and aerospace, emphasizing energy efficiency and sustainability. The company is recognized for its advancements in Silicon Carbide and gallium nitride technologies, which are integral for modern energy consumption.
Wolfspeed (NYSE: WOLF), a leader in Silicon Carbide technology, hosted President Biden during his 'Invest in America' tour at their Durham, NC headquarters. Biden's visit focused on initiatives to boost manufacturing and infrastructure in the U.S. Wolfspeed emphasized its role in the semiconductor industry, committed to advancing the transition to electric vehicles and renewable energy. Currently, the company produces over 60% of Silicon Carbide materials globally and is undertaking a $6.5 billion capacity expansion, including new facilities aimed at increasing production. The first phase of their new North Carolina facility is expected to be completed by 2024.
Wolfspeed, Inc. (NYSE: WOLF) has announced an expansion of its partnership with North Carolina Agricultural and Technical State University to enhance compound semiconductor innovations. The collaboration aims to seek funding under the CHIPS and Science Act for a new research facility focused on Silicon Carbide technology. This facility will complement the ongoing construction of the John Palmour Manufacturing Center in Siler City, North Carolina, which is set to boost production over 10x and create 1,800 jobs by 2024. This partnership emphasizes workforce development and sustainability in semiconductor manufacturing.
Wolfspeed, Inc. (NYSE: WOLF) announced its participation in the 35th Annual Roth Conference, where CFO Neill Reynolds will engage in a fireside chat on March 14, 2023, at 3:30 pm ET. The event underscores Wolfspeed's leadership in Silicon Carbide technology, crucial for energy-efficient applications across various sectors, including electric vehicles and renewable energy. A live webcast will be accessible through the Investor section of Wolfspeed's website.
For further details, visit Wolfspeed's Investor page.
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