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 (NYSE: WOLF) reported strong fiscal 2022 results with a 42% annual revenue growth, reaching $746.2 million. The fourth quarter alone saw revenue of $228.5 million and record design-ins of $2.6 billion. Despite these gains, the company posted a GAAP net loss of $61.8 million in Q4 and $295.1 million for the full year. Looking ahead, Wolfspeed expects first quarter fiscal 2023 revenue between $232.5 million and $247.5 million, along with targeted net losses of $14 million to $21 million.
Wolfspeed, Inc. (NYSE: WOLF) will hold a conference call on August 17, 2022, at 5:00 p.m. ET to discuss its fiscal 2022 results and fiscal 2023 outlook. An earnings press release will be issued after market close on the same day. The call will be accessible via a live webcast, which will also be available for replay on the company's website. As a leader in Silicon Carbide technology, Wolfspeed focuses on solutions for sustainable energy consumption, targeting sectors like electric vehicles and renewable energy.
Wolfspeed, Inc. (NYSE: WOLF) has announced upcoming presentations by its senior management team at three investor conferences in August and September 2022. Dr. John Palmour and Tyler Gronbach will present at the Oppenheimer 25th Annual Technology, Internet & Communications Conference on August 10. Jay Cameron and Tyler Gronbach will present at the Canaccord Genuity 42nd Annual Growth Conference on August 11. CEO Gregg Lowe will present at the Evercore ISI 2nd Annual Technology, Media & Telecom Conference on September 8. Live webcasts of these presentations will be available on the company's investor website.
Wolfspeed, Inc. (NYSE: WOLF) has promoted Rick Madormo to Senior Vice President of Global Sales and Marketing, succeeding Thomas Wessel, who will retire in June. Madormo has led the Americas sales team since 2018, contributing to a 37% growth in quarterly revenue. Owen DeLeon has been appointed as the new Vice President of Sales for the Americas, bringing 15 years of semiconductor experience from Intel. This leadership change is strategic for Wolfspeed as it aims to enhance its growth in Silicon Carbide technology.
Wolfspeed, Inc. (NYSE: WOLF), a leader in Silicon Carbide technology, announced key presentations by its senior management at upcoming investor conferences in May and June 2022. CEO Gregg Lowe and CFO Neill Reynolds will present at the J.P. Morgan Global Technology, Media & Communications Conference on May 23. Neill Reynolds will also speak at the Cowen Technology, Media, and Telecom Conference on June 2, followed by the Bank of America Global Technology Conference on June 9. Live webcasts will be available on Wolfspeed's investor website.
Wolfspeed, Inc. (NYSE: WOLF) partners with Rhombus Energy Solutions to enhance the EV infrastructure with Silicon Carbide MOSFETs in their EV2flex™ products. This collaboration aims to revolutionize bi-directional charging, enabling efficient power flow between vehicles and the grid, crucial for energy stability. Wolfspeed's advanced technology promises improved efficiency, higher power density, and faster charging capabilities, positioning it as a key player in the growing market for fast-charging EV solutions.
Wolfspeed, Inc. (NYSE: WOLF) reported a Q3 FY2022 revenue of $188.0 million, reflecting a 37% year-over-year increase and a 9% sequential increase. Despite revenue growth, the company posted a GAAP net loss of $66.5 million for the quarter, resulting in a loss per share of $0.54. The non-GAAP net loss improved to $14.3 million, yielding a loss per diluted share of $0.12. For Q4 FY2022, Wolfspeed anticipates revenue between $200 million and $215 million but expects a larger GAAP net loss of $78 million to $85 million.
Wolfspeed, Inc. (NYSE: WOLF) has inaugurated its new Mohawk Valley Silicon Carbide fabrication facility in Marcy, N.Y., boosting production capabilities to meet rising demand for Silicon Carbide devices in automotive and industrial sectors. This state-of-the-art 200mm wafer fab aims to enhance U.S. semiconductor production competitiveness.
Governor Kathy Hochul and Lucid Motors representatives attended the ribbon-cutting ceremony. The facility will create over 600 jobs by 2029 and is expected to significantly contribute to Wolfspeed's $20B pipeline by improving wafer quality.
Wolfspeed (NYSE: WOLF) announced a multiyear agreement with Lucid Motors to supply Silicon Carbide power devices for the Lucid Air, enhancing its performance and energy efficiency. This partnership leverages Wolfspeed's advanced Silicon Carbide technology, produced at the new Mohawk Valley Fab in New York, set to be the world's largest 200mm fabrication facility, improving production capacity. CEO Gregg Lowe emphasized the role of Silicon Carbide in advancing electric vehicle technology.
Wolfspeed, Inc. (NYSE: WOLF) will host a conference call and audio webcast on May 4, 2022, at 5:00 p.m. ET, to discuss its third quarter fiscal 2022 results and business outlook. The earnings press release will be issued after market close on May 4 and can be accessed via Business Wire or Wolfspeed's website. As a leader in Silicon Carbide technology, Wolfspeed focuses on solutions for energy efficiency and sustainability, serving sectors like electric vehicles, 5G, and renewable energy.
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