Wolfspeed Inc Stock Price, News & Analysis

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.

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.