Wolfspeed Inc Stock Price, News & Analysis

Wolfspeed, Inc. (NYSE: WOLF) will hold a conference call on January 25, 2023, at 5:00 p.m. ET to discuss its second quarter fiscal 2023 results and business outlook. Earnings results will be released after the market closes on the same day. Investors can access the earnings release via Business Wire or on the company's official website. Wolfspeed specializes in Silicon Carbide and GaN technologies, providing solutions aimed at enhancing energy efficiency across multiple sectors, including electric vehicles and renewable energy.

Wolfspeed, Inc. (NYSE: WOLF) has promoted Elif Balkas to Chief Technology Officer, succeeding the late Dr. John Palmour. Balkas, who joined in 2006, has played a crucial role in technology and production advancements. CEO Gregg Lowe expressed confidence in her leadership, noting her contributions to Silicon Carbide technology. With over 20 years in the industry, Balkas aims to drive innovation and efficiency, continuing the legacy of her predecessor. Wolfspeed specializes in Silicon Carbide and GaN technologies for sustainable energy solutions.

Wolfspeed (NYSE: WOLF) has announced a strategic partnership to supply Silicon Carbide devices to Mercedes-Benz for their upcoming Electric Vehicles (EVs). This collaboration aims to enhance powertrain efficiency and improve EV performance, driving consumer adoption. The devices will be produced at Wolfspeed's facilities in Durham, North Carolina and the new 200mm Mohawk Valley Fab in Marcy, New York, which significantly boosts production capacity. Wolfspeed continues to invest in manufacturing to meet rising demand for Silicon Carbide technology.

Wolfspeed, Inc. (NYSE: WOLF) has expanded a multi-year Silicon Carbide wafer supply agreement worth approximately $225 million with a leading power device company. This agreement will supply 150 mm Silicon Carbide bare and epitaxial wafers, positioning Wolfspeed as an essential player in the transition from silicon to Silicon Carbide semiconductor power devices.

This expansion not only strengthens existing partnerships but also enhances Wolfspeed's ability to meet the growing demand in diverse markets such as renewable energy, electric vehicles, and industrial power supplies.

Ryder System has appointed Charles M. “Chuck” Swoboda to its board of directors, effective December 12, 2022. Swoboda's notable leadership experience includes his tenure as CEO of Cree, Inc. (now Wolfspeed, Inc.), where he grew revenues from $177 million to over $1.6 billion. His expertise in innovation and financial management is expected to enhance Ryder's strategic vision. The board size will increase to twelve to accommodate this appointment, aiming to leverage Swoboda's skills in governance and audit committees.

Wolfspeed (NYSE: WOLF) has announced its sponsorship of the FIRST® Robotics Competition, aimed at enhancing STEM education access in local communities. This initiative reflects Wolfspeed's ongoing commitment to diversity and innovation in education. The company previously donated $25,000 to support tech teams at SUNY Polytechnic Institute. By 2025, Wolfspeed plans to establish STEM partnerships across all major locations, reinforcing its focus on sustainable energy and future job readiness.

Wolfspeed, Inc. (NYSE: WOLF) announced its participation in the Deutsche Bank AutoTech Conference, where CEO Gregg Lowe will engage in a fireside chat at 11:15 am ET on December 14, 2022. A live webcast will be accessible on Wolfspeed's Investor section of their website. As a leader in Silicon Carbide technology, Wolfspeed focuses on efficient energy consumption for applications including electric vehicles, 5G, and renewable energy. The company is committed to innovation and sustainable solutions.

Wolfspeed, Inc. (NYSE: WOLF), a leader in Silicon Carbide technology, announced presentations by senior management at two upcoming investor conferences. CEO Gregg Lowe and CFO Neill Reynolds will engage in a fireside chat at the 6th Annual Wells Fargo TMT Summit on November 29, 2022, at 6:10 pm ET. Neill Reynolds will also participate in the 26th Annual Credit Suisse Technology Conference on December 1, 2022, at 10:55 am ET. Live webcasts of these events will be accessible via the Investor section of Wolfspeed’s website.

Wolfspeed, Inc. (NYSE: WOLF) has announced pricing for its $1.525 billion offering of 1.875% Convertible Senior Notes due 2029. The offering size was increased from an initial $1.3 billion. The Notes will generate approximately $1.498 billion in net proceeds, which will primarily fund capped call transactions and general corporate purposes. The initial conversion rate is 8.4118 shares per $1,000 principal, representing a 35% premium over the stock's recent price. The Notes will mature on December 1, 2029, and are expected to settle on November 21, 2022.