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, the global leader in silicon carbide technology, has announced its participation in an upcoming investor conference. CEO Gregg Lowe and CFO Neill Reynolds will engage in a fireside chat at Citi's 2024 Global TMT Conference on September 4, 2024, at 3:50pm ET.
Investors and interested parties can access a live webcast of the presentation through the Investor Relations section of Wolfspeed's website. The webcast link will be available at https://investor.wolfspeed.com/events-and-presentations/. This event provides an opportunity for stakeholders to gain insights into Wolfspeed's strategies and performance directly from its top executives.
Wolfspeed (NYSE: WOLF) reported financial results for Q4 and full fiscal year 2024. Key highlights include:
- Q4 revenue of $201 million, down slightly from $203 million in Q4 FY2023
- Full-year revenue of $807 million, up from $759 million in FY2023
- Mohawk Valley Fab contributed $41 million in Q4 revenue
- Q4 GAAP gross margin fell to 1% from 29% year-over-year
- Full-year GAAP gross margin decreased to 10% from 32% in FY2023
- Company plans to accelerate shift to 200mm Mohawk Valley Fab
- FY2025 net CapEx spend to be reduced by $200 million
- Q1 FY2025 revenue guidance: $185-$215 million
Wolfspeed is focusing on optimizing capital structure and driving performance in its 200mm fab, while assessing closure timing of its 150mm Durham device fab.
The Schall Law Firm, a national shareholder rights litigation firm, has announced an investigation into Wolfspeed, Inc. (NYSE:WOLF) for potential securities law violations. The investigation focuses on whether Wolfspeed issued false or misleading statements or failed to disclose important information to investors.
The investigation was prompted by a Reuters report published on June 20, 2024, which revealed that Wolfspeed had delayed plans to build a $3 billion plant in Germany. According to the report, construction won't start until mid-2025 at the earliest, two years later than originally planned. This news caused Wolfspeed's shares to fall by 8.62% on the same day.
Shareholders who suffered losses are encouraged to participate in the investigation and contact The Schall Law Firm for more information.
Wolfspeed, Inc. (NYSE: WOLF), the global leader in silicon carbide technology, has announced its upcoming fiscal fourth quarter and full year 2024 earnings call. The call is scheduled for Wednesday, August 21, 2024, at 5:00 pm Eastern Daylight Time. CEO Gregg Lowe and CFO Neill Reynolds will host the conference call and audio webcast.
Investors and interested parties can access the live webcast of the earnings conference call, along with the earnings release, on Wolfspeed's Investor Relations website at https://investor.wolfspeed.com. This event will provide an opportunity for stakeholders to gain insights into the company's financial performance and future outlook.
Wolfspeed (NYSE: WOLF) reported significant progress and operational updates. The Mohawk Valley 200mm silicon carbide fab reached 20% utilization and attained LEED Silver certification. Their Building 10 Materials facility met its 200mm wafer production target, aiming for 25% utilization by end of 2024. The John Palmour Manufacturing Center activated its initial furnaces and is on track for crystal qualification by August 2024. However, an equipment incident at the Durham 150mm device fab caused a temporary capacity reduction, though production has resumed. Wolfspeed expects a fiscal Q4 2024 revenue impact, with gross margins between -4% to 4% GAAP and 0% to 8% non-GAAP. A preliminary fiscal Q1 2025 forecast indicates potential $20 million revenue impact.
Wolfspeed, a leader in silicon carbide technology, has announced participation in two key investor conferences in May and June 2024. CEO Gregg Lowe and CFO Neill Reynolds will present at the 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference on May 20, 2024, at 1:10pm ET. CFO Neill Reynolds will also speak at the 44th Annual William Blair Growth Stock Conference on June 5, 2024, at 2:20pm ET. Both presentations will be webcast live on Wolfspeed’s Investor Relations website.
Wolfspeed, Inc. (NYSE: WOLF) reported its financial results for the third quarter of fiscal year 2024, highlighting a consolidated revenue of approximately $201 million, a significant increase in revenue from Mohawk Valley Fab, and materials revenue reaching the second-highest quarter on record. The company also secured design-ins worth $2.8 billion and quarterly design-wins of $0.9 billion, with 70% related to EV applications. However, GAAP gross margin decreased to 11% compared to 31% in the prior year. The CEO expressed confidence in achieving operational targets and highlighted progress in facility construction. Wolfspeed anticipates a revenue target of $185 million to $215 million for the fourth quarter of fiscal 2024.
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