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. (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.
Wolfspeed, Inc. (NYSE: WOLF) has appointed Jeff Ferraro as Vice President of Enterprise Supply Chain and Procurement, effective March 14. Ferraro, with over 20 years in the semiconductor industry, previously held multiple leadership positions at Texas Instruments. His extensive experience in supply chain and logistics is expected to support Wolfspeed's growth as it transitions from silicon to Silicon Carbide technology. This strategic addition is also aligned with the company's efforts to enhance production capacities in New York and North Carolina.
DURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF), a leader in Silicon Carbide technology, announced upcoming presentations by its senior management at two investor conferences.
- Neill Reynolds, CFO, will speak at the Morgan Stanley Technology, Media & Telecom Conference on March 7, 2022 at 4:15 pm ET.
- Dr. John Palmour, CTO, will present at the 34th Annual Roth Conference on March 14, 2022 at 5 pm ET.
Live webcasts will be accessible through the Investor section of Wolfspeed's website.
The National Academy of Engineering has elected Wolfspeed co-founder and CTO Dr. John Palmour as a member of its 2022 class for his work on Silicon Carbide-based electronic devices. With over 30 years of experience, Palmour's innovations have advanced Wolfspeed's role as a leader in semiconductor technology, specifically in energy efficiency applications across industries such as electric vehicles and renewable energy. His significant contributions include 386 scientific publications and 81 U.S. patents. The formal induction is scheduled for Oct. 2, 2022.
Wolfspeed (NYSE: WOLF) announced the pricing of its private offering of $650 million 0.25% Convertible Senior Notes due 2028, increasing from the initially planned $500 million. The offering, set to settle on February 3, 2022, will yield approximately $634.6 million in net proceeds, expected to be used for capped call transactions and general corporate purposes. The initial conversion rate is 7.8602 shares per $1,000 principal amount, with a 35% premium over the last share price of $94.24. The capped call transactions aim to reduce potential dilution upon conversion.
Wolfspeed, Inc. (NYSE: WOLF) announced a planned offering of $500 million in Convertible Senior Notes due 2028, with an option for an additional $75 million. The Notes will be unsecured and convertible into cash, shares, or a mix, with terms to be negotiated. Proceeds will fund capped call transactions and general corporate purposes. The offering targets qualified institutional buyers under Rule 144A. Market activities related to the Notes could influence the stock price.
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