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.
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Wolfspeed, Inc. reported a 22% year-over-year revenue growth in Q3 fiscal 2023, achieving $228.7 million in revenue compared to $188.0 million last year. The GAAP gross margin declined to 29.8%, down from 34.0%, while the net loss widened to $99.5 million, or $0.80 per diluted share. Non-GAAP metrics showed a net loss of $16.0 million, with a gross margin of 32.3%. Design-ins totaled $1.7 billion for the quarter. Looking ahead, Wolfspeed anticipates Q4 revenue between $212 million and $232 million and projects fiscal 2024 revenue of $1 billion to $1.1 billion.
Wolfspeed, Inc. (NYSE: WOLF), a leader in Silicon Carbide technology, has announced a conference call on April 26, 2023, at 5:00 pm ET to discuss third quarter fiscal 2023 results. A live audio webcast and earnings release will be available on their Investor Relations website. Wolfspeed focuses on providing solutions in various sectors such as electric vehicles, renewable energy, and aerospace, emphasizing energy efficiency and sustainability. The company is recognized for its advancements in Silicon Carbide and gallium nitride technologies, which are integral for modern energy consumption.
Wolfspeed (NYSE: WOLF), a leader in Silicon Carbide technology, hosted President Biden during his 'Invest in America' tour at their Durham, NC headquarters. Biden's visit focused on initiatives to boost manufacturing and infrastructure in the U.S. Wolfspeed emphasized its role in the semiconductor industry, committed to advancing the transition to electric vehicles and renewable energy. Currently, the company produces over 60% of Silicon Carbide materials globally and is undertaking a $6.5 billion capacity expansion, including new facilities aimed at increasing production. The first phase of their new North Carolina facility is expected to be completed by 2024.
Wolfspeed, Inc. (NYSE: WOLF) has announced an expansion of its partnership with North Carolina Agricultural and Technical State University to enhance compound semiconductor innovations. The collaboration aims to seek funding under the CHIPS and Science Act for a new research facility focused on Silicon Carbide technology. This facility will complement the ongoing construction of the John Palmour Manufacturing Center in Siler City, North Carolina, which is set to boost production over 10x and create 1,800 jobs by 2024. This partnership emphasizes workforce development and sustainability in semiconductor manufacturing.
Wolfspeed, Inc. (NYSE: WOLF) announced its participation in the 35th Annual Roth Conference, where CFO Neill Reynolds will engage in a fireside chat on March 14, 2023, at 3:30 pm ET. The event underscores Wolfspeed's leadership in Silicon Carbide technology, crucial for energy-efficient applications across various sectors, including electric vehicles and renewable energy. A live webcast will be accessible through the Investor section of Wolfspeed's website.
For further details, visit Wolfspeed's Investor page.