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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) 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.
Wolfspeed, Inc. (NYSE: WOLF) reported a revenue of $173.1 million for Q2 fiscal 2022, marking a 36% year-over-year increase. The GAAP net loss from continuing operations was $96.7 million, or $0.82 per diluted share, compared to a loss of $54.3 million in Q2 fiscal 2021. Non-GAAP net loss improved to $18.6 million, or $0.16 per diluted share. For Q3 fiscal 2022, the company targets revenue of $185 million to $195 million and GAAP net loss of $66 million to $71 million.
Wolfspeed, Inc. (NYSE: WOLF) will host a conference call on January 26, 2022, at 5:00 p.m. ET to discuss its Q2 fiscal 2022 results and business outlook. The earnings press release will be issued after market close on the same day, available via Wolfspeed's website. The live webcast can be accessed on the investor relations page, with a recording available later for replay.
Wolfspeed is a leader in Silicon Carbide technology, offering solutions for industries aiming for efficient energy consumption.
Wolfspeed, Inc. (NYSE: WOLF) has announced the appointment of Joe Roybal as Vice President of Backend Operations. With over 20 years of experience from Texas Instruments, Roybal brings extensive knowledge in fab, probe, and assembly/test operations. His role aims to enhance Wolfspeed's operational capabilities amidst the industry's shift from silicon to Silicon Carbide technology. This strategic hire is expected to bolster Wolfspeed's growth and production capacity in New York and North Carolina.
Wolfspeed, Inc. (NYSE: WOLF) is hosting an Investor Day on November 17, 2021, at the New York Stock Exchange. The event will feature CEO Gregg Lowe and CFO Neill Reynolds, providing insights on industry trends and the company's long-term outlook. Attendance is limited to the investment community, requiring registration. Guests should arrive by 7:30 a.m. ET, with presentations starting at 8:00 a.m. ET and ending around 1:00 p.m. ET. A live webcast will be available online, with a replay following the event.
Wolfspeed, Inc. (NYSE: WOLF) reported a revenue of $156.6 million for Q1 fiscal 2022, marking a 36% year-over-year increase and a 7% quarter-over-quarter growth. Despite the revenue growth, the company experienced a GAAP net loss of $70.1 million or $0.60 per diluted share. On a non-GAAP basis, the net loss was $23.8 million, $0.21 per diluted share. Looking ahead, Wolfspeed anticipates Q2 fiscal 2022 revenue between $165 million and $175 million, with a targeted GAAP net loss of $69 million to $73 million.
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