Wolfspeed, Inc. provides silicon carbide and gallium nitride (GaN) materials, power devices, and radio frequency (RF) devices based on wide bandgap semiconductor materials and silicon. The company's silicon carbide and GaN materials comprise silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers. It offers silicon carbide materials for customers to manufacture products for RF, power, and other applications. The company's power devices include silicon carbide Schottky diodes, metal oxide semiconductor field effect transistors (MOSFETs), power modules, and gate driver boards for customers and distributors to use in applications, such as electric vehicles comprising charging infrastructure, server power supplies, solar inverters, uninterruptible power supplies, industrial power supplies, and other applications. Its RF devices comprise GaN-based die, high-electron mobility transistors, monolithic microwave integrated circuits, and laterally diffused MOSFET power transistors for telecommunications infrastructure, military, and other commercial applications. The company's products are also used in transportation, fast charging, wireless systems, 5G, motor drives, renewable energy and storage, and aerospace and defense applications; and materials products and RF devices are used in military communications, radar, satellite, and telecommunication applications. It serves customers in North America, Asia, and Europe. The company was formerly known as Cree, Inc. and changed its name to Wolfspeed, Inc. in October 2021. Wolfspeed, Inc. was founded in 1987 and is headquartered in Durham, North Carolina.
IPO Year:
Exchange: NYSE
Website: wolfspeed.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/9/2025 | Neutral → Underweight | Analyst | |
| 10/3/2024 | $17.00 → $8.00 | Neutral → Underperform | Mizuho |
| 8/22/2024 | $48.00 → $28.00 | Buy | Goldman |
| 8/22/2024 | $25.00 → $15.00 | Hold | TD Cowen |
| 8/7/2024 | $18.00 | Buy → Neutral | New Street |
| 5/2/2024 | $40.00 → $25.00 | Buy → Hold | TD Cowen |
| 5/2/2024 | Outperform → Mkt Perform | William Blair | |
| 4/5/2024 | $30.00 | Neutral | Mizuho |
| 4/3/2024 | $55.00 → $30.00 | Overweight → Equal Weight | Wells Fargo |
| 5/18/2023 | $46.00 | Hold | Jefferies |
Paul Walsh and Mark Jensen Bring Valuable Restructuring, Semiconductor Industry, and Finance & Accounting Expertise Stacy Smith to Not Stand for Re-Election to Wolfspeed's Board Company Remains Actively Engaged with its Lenders to Improve its Capital Structure Wolfspeed, Inc. (NYSE:WOLF) ("Wolfspeed" or the "Company"), a global leader in silicon carbide technology, today announced the appointments of Paul Walsh and Mark Jensen to the Company's Board of Directors (the "Board"). Both Mr. Walsh and Mr. Jensen will serve as members of the Audit Committee. Tom Werner, Chairman of the Board, commented, "We are pleased to add two highly-qualified directors, Paul and Mark, to our Board. They bo
Wolfspeed, Inc. (NYSE:WOLF) today announced its results for the third quarter of fiscal 2025. Quarterly Financial Highlights (Continuing operations only. All comparisons are to the third quarter of fiscal 2024.) Consolidated revenue of $185 million, as compared to $201 million Mohawk Valley Fab contributed $78 million in revenue, as compared to $28 million GAAP gross margin of (12)%, compared to 11% Non-GAAP gross margin of 2%, compared to 15% GAAP and non-GAAP gross margin includes the impacts of underutilization costs primarily in connection with the start of production at the Mohawk Valley Fab. Underutilization was $26.3 million as compared to $30.4 million. GAAP loss pe
Neill Reynolds will Depart as Executive Vice President and Chief Financial Officer Reynolds will Remain in his Role Until May 30th to Coordinate Ongoing Negotiations with its Lenders Wolfspeed Reaffirms Fiscal Third Quarter 2025 Guidance Wolfspeed, Inc. (NYSE:WOLF) ("Wolfspeed" or the "Company") today announced that it has mutually agreed with Neill Reynolds to conclude his role as Executive Vice President and Chief Financial Officer, effective May 30, 2025, to pursue another professional opportunity. Reynolds will remain with the Company to ensure an orderly transition as it continues its active discussions with its lenders in an effort to strengthen the Company's capital structure. Re
Wolfspeed, Inc. (NYSE:WOLF), the global leader in silicon carbide technology, will conduct a conference call and audio webcast to discuss its third quarter results on Thursday, May 8, 2025, at 5:00 pm Eastern Standard Time. The call will be hosted by Thomas Werner, chairman of the board, Robert Feurle, chief executive officer, and Neill Reynolds, chief financial officer. A live webcast of the earnings conference call along with the earnings release will be available on Wolfspeed's Investor Relations website at https://investor.wolfspeed.com. About Wolfspeed, Inc. Wolfspeed (NYSE:WOLF) leads the market in the worldwide adoption of silicon carbide technologies that power the world's most d
Announces Receipt of $192 million in Section 48D Cash Tax Refunds from IRS Reaffirms Fiscal Third Quarter 2025 Guidance and Current Cash Balance Continues Active Discussions with Lenders, Including Apollo & Renesas Remains in Dialogue with U.S. Department of Commerce Wolfspeed, Inc. (NYSE:WOLF) today announced that the Company has received $192.1 million in cash tax refunds from the advanced manufacturing tax credit under Section 48D. Funds include $186.5 million owed to the Company for both fiscal 2023 and fiscal 2024 taxes, as well as accrued interest. This announcement reflects a portion of the approximately $1 billion total Section 48D cash tax refunds that the Company expects to re
Feurle Takes the Helm at Global Silicon Carbide Leader on May 1, 2025, to Drive Operational Excellence and Accelerate Profitability Proven Executive has Led Large, High-Stakes Business Units for Multiple High Profile Semiconductor Companies Appointment Advances Wolfspeed's Strategic Vision and Long-Term Value Creation Wolfspeed, Inc. (NYSE:WOLF), the global leader in silicon carbide technology, today announced the appointment of Robert Feurle as Chief Executive Officer (CEO), effective May 1, 2025, following a comprehensive internal and external search by the Board of Directors. Feurle succeeds Thomas Werner, who is serving as interim Executive Chairman and will return as Chairman of the
Taking Aggressive Steps to Accelerate Profitability and Strengthen the Balance Sheet Maintain Confidence in $2.5+ Billion of Liquidity via CHIPS, Lenders, 48D Tax Credits 200mm Greenfield Footprint Yielding High-Quality Materials and Devices Wolfspeed, Inc. (NYSE:WOLF) today announced its results for the second quarter of fiscal 2025. Quarterly Financial Highlights (Continuing operations only. All comparisons are to the second quarter of fiscal 2024.) Consolidated revenue of $181 million, as compared to $208 million Mohawk Valley Fab contributed $52 million in revenue, as compared to $12 million GAAP gross margin of (21)%, compared to 13% Non-GAAP gross margin of 2%, c
Wolfspeed's highly flexible Gen 4 MOSFET technology platform supports long-term roadmaps for high-performance, application-optimized products Holistic efficiency improvements enable reduced system costs and development time while maximizing application lifetime, representing a pivotal progression for silicon carbide technology Wolfspeed's U.S- based silicon carbide substrate and device manufacturing supports domestic security protection Wolfspeed, Inc. (NYSE:WOLF), the global leader in silicon carbide technology, today introduced its new Gen 4 technology platform, which enables design rooted in durability and efficiency, all while reducing system cost and development time. Enginee
Wolfspeed, Inc. (NYSE:WOLF), the global leader in silicon carbide technology, will conduct a conference call and audio webcast to discuss its second quarter results on Wednesday, January 29, 2025, at 5:00 pm Eastern Standard Time. The call will be hosted by Thomas Werner, executive chairman, and Neill Reynolds, chief financial officer. A live webcast of the earnings conference call along with the earnings release will be available on Wolfspeed's Investor Relations website at https://investor.wolfspeed.com. About Wolfspeed, Inc. Wolfspeed (NYSE:WOLF) leads the market in the worldwide adoption of silicon carbide technologies that power the world's most disruptive innovations. As the pio
Wolfspeed Achieves Important CHIPS Act Milestone Strengthens The Balance Sheet by Providing Additional Liquidity Wolfspeed, Inc. (NYSE:WOLF) announced today that it has completed the offering of shares of its common stock under its previously announced "at the market" offering program pursuant to a shelf registration statement filed with the U.S. Securities and Exchange Commission and a prospectus supplement, dated December 9, 2024. Through the program, the Company sold 27,793,535 shares of its common stock for gross proceeds of approximately $200 million. Wolfspeed intends to use the net proceeds from the ATM Program to improve its capital structure, reduce leverage, and address outs
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Analyst downgraded Wolfspeed from Neutral to Underweight
Mizuho downgraded Wolfspeed from Neutral to Underperform and set a new price target of $8.00 from $17.00 previously
Goldman reiterated coverage of Wolfspeed with a rating of Buy and set a new price target of $28.00 from $48.00 previously
TD Cowen reiterated coverage of Wolfspeed with a rating of Hold and set a new price target of $15.00 from $25.00 previously
New Street downgraded Wolfspeed from Buy to Neutral and set a new price target of $18.00
TD Cowen downgraded Wolfspeed from Buy to Hold and set a new price target of $25.00 from $40.00 previously
William Blair downgraded Wolfspeed from Outperform to Mkt Perform
Mizuho initiated coverage of Wolfspeed with a rating of Neutral and set a new price target of $30.00
Wells Fargo downgraded Wolfspeed from Overweight to Equal Weight and set a new price target of $30.00 from $55.00 previously
Jefferies initiated coverage of Wolfspeed with a rating of Hold and set a new price target of $46.00
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Wolfspeed, Inc. (NYSE:WOLF) today announced its results for the third quarter of fiscal 2025. Quarterly Financial Highlights (Continuing operations only. All comparisons are to the third quarter of fiscal 2024.) Consolidated revenue of $185 million, as compared to $201 million Mohawk Valley Fab contributed $78 million in revenue, as compared to $28 million GAAP gross margin of (12)%, compared to 11% Non-GAAP gross margin of 2%, compared to 15% GAAP and non-GAAP gross margin includes the impacts of underutilization costs primarily in connection with the start of production at the Mohawk Valley Fab. Underutilization was $26.3 million as compared to $30.4 million. GAAP loss pe
Wolfspeed, Inc. (NYSE:WOLF), the global leader in silicon carbide technology, will conduct a conference call and audio webcast to discuss its third quarter results on Thursday, May 8, 2025, at 5:00 pm Eastern Standard Time. The call will be hosted by Thomas Werner, chairman of the board, Robert Feurle, chief executive officer, and Neill Reynolds, chief financial officer. A live webcast of the earnings conference call along with the earnings release will be available on Wolfspeed's Investor Relations website at https://investor.wolfspeed.com. About Wolfspeed, Inc. Wolfspeed (NYSE:WOLF) leads the market in the worldwide adoption of silicon carbide technologies that power the world's most d
Taking Aggressive Steps to Accelerate Profitability and Strengthen the Balance Sheet Maintain Confidence in $2.5+ Billion of Liquidity via CHIPS, Lenders, 48D Tax Credits 200mm Greenfield Footprint Yielding High-Quality Materials and Devices Wolfspeed, Inc. (NYSE:WOLF) today announced its results for the second quarter of fiscal 2025. Quarterly Financial Highlights (Continuing operations only. All comparisons are to the second quarter of fiscal 2024.) Consolidated revenue of $181 million, as compared to $208 million Mohawk Valley Fab contributed $52 million in revenue, as compared to $12 million GAAP gross margin of (21)%, compared to 13% Non-GAAP gross margin of 2%, c
Wolfspeed, Inc. (NYSE:WOLF), the global leader in silicon carbide technology, will conduct a conference call and audio webcast to discuss its second quarter results on Wednesday, January 29, 2025, at 5:00 pm Eastern Standard Time. The call will be hosted by Thomas Werner, executive chairman, and Neill Reynolds, chief financial officer. A live webcast of the earnings conference call along with the earnings release will be available on Wolfspeed's Investor Relations website at https://investor.wolfspeed.com. About Wolfspeed, Inc. Wolfspeed (NYSE:WOLF) leads the market in the worldwide adoption of silicon carbide technologies that power the world's most disruptive innovations. As the pio
Solidifying Capital Structure, Simplifying Business to Accelerate Profitability and Continuing to Build Core Sales Demand Executed Access to Incremental $2.5 Billion in Liquidity via CHIPS, Lenders, Tax Credits Streamlining Business to 200mm Pure Play Yielding $200 Million in Cash Savings Wolfspeed, Inc. (NYSE:WOLF) today announced its results for the first quarter of fiscal 2025. Quarterly Financial Highlights (Continuing operations only. All comparisons are to the first quarter of fiscal 2024.) Consolidated revenue of approximately $195 million, as compared to approximately $197 million Mohawk Valley Fab contributed approximately $49 million in revenue Power device design-ins
Wolfspeed, Inc. (NYSE:WOLF), the global leader in silicon carbide technology, will conduct a conference call and audio webcast to discuss its first quarter results on Wednesday, November 6, 2024, at 5:00 pm Eastern Daylight Time. The call will be hosted by Gregg Lowe, chief executive officer, and Neill Reynolds, chief financial officer. A live webcast of the earnings conference call along with the earnings release will be available on Wolfspeed's Investor Relations website at https://investor.wolfspeed.com. About Wolfspeed, Inc. Wolfspeed (NYSE:WOLF) leads the market in the worldwide adoption of silicon carbide technologies that power the world's most disruptive innovations. As the pione
Mohawk Valley Momentum Driving 100% Year-over-Year Growth in EV Revenue Mohawk Valley Fab Targeted to Reach 25% Utilization in Q1FY25, One Quarter Ahead of Schedule Company Plans to Accelerate Shift of Device Fabrication to 200mm Mohawk Valley Fab, Assess Timing of Closure of 150mm Durham Device Fab Reducing FY25 net CapEx Spend by $200 Million Wolfspeed, Inc. (NYSE:WOLF) today announced its results for the fourth quarter of fiscal 2024 and the full 2024 fiscal year. Quarterly Financial Highlights (Continuing operations only. All comparisons are to the fourth quarter of fiscal 2023.) Consolidated revenue of approximately $201 million, as compared to approximately $203 million
Wolfspeed, Inc. (NYSE:WOLF), the global leader in silicon carbide technology, will conduct a conference call and audio webcast to discuss its fourth quarter and full year fiscal 2024 results on Wednesday, August 21, 2024, at 5:00 pm Eastern Daylight Time. The call will be hosted by Gregg Lowe, chief executive officer, and Neill Reynolds, chief financial officer. A live webcast of the earnings conference call along with the earnings release will be available on Wolfspeed's Investor Relations website at https://investor.wolfspeed.com. About Wolfspeed, Inc. Wolfspeed (NYSE:WOLF) leads the market in the worldwide adoption of silicon carbide technologies. We provide industry-leading soluti
Mohawk Valley Fab Revenue more than Doubled Sequentially; On Track for 20% Utilization in Fourth Quarter of Fiscal 2024 $2.8 Billion of Design-Ins, Second Highest Quarter on Record Wolfspeed, Inc. (NYSE:WOLF) today announced its results for the third quarter of fiscal 2024. Quarterly Financial Highlights (Continuing operations only. All comparisons are to the third quarter of fiscal 2023) Consolidated revenue of approximately $201 million, compared to approximately $193 million Mohawk Valley Fab contributed approximately $28 million in revenue, over a 2x increase from the prior quarter Materials revenue of approximately $99 million - second highest quarter on record Powe
Wolfspeed, Inc. (NYSE:WOLF), the global leader in silicon carbide technology, will conduct a conference call and audio webcast to discuss its fiscal third quarter 2024 results on Wednesday, May 1, 2024, at 5:00 pm Eastern Daylight Time. The call will be hosted by Gregg Lowe, chief executive officer, and Neill Reynolds, chief financial officer. A live webcast of the earnings conference call along with the earnings release will be available on Wolfspeed's Investor Relations website at https://investor.wolfspeed.com. About Wolfspeed, Inc. Wolfspeed (NYSE:WOLF) leads the market in the worldwide adoption of silicon carbide technologies. We provide industry-leading solutions for efficient e
Feurle Takes the Helm at Global Silicon Carbide Leader on May 1, 2025, to Drive Operational Excellence and Accelerate Profitability Proven Executive has Led Large, High-Stakes Business Units for Multiple High Profile Semiconductor Companies Appointment Advances Wolfspeed's Strategic Vision and Long-Term Value Creation Wolfspeed, Inc. (NYSE:WOLF), the global leader in silicon carbide technology, today announced the appointment of Robert Feurle as Chief Executive Officer (CEO), effective May 1, 2025, following a comprehensive internal and external search by the Board of Directors. Feurle succeeds Thomas Werner, who is serving as interim Executive Chairman and will return as Chairman of the
Wolfspeed (NYSE:WOLF) today announced that Melissa Garrett has been appointed Senior Vice President and General Counsel, effective December 9, 2024. Garrett succeeds Brad Kohn, who has resigned from the company for another professional opportunity. Garrett brings extensive legal expertise and has served as a senior member of Wolfspeed's legal team leading global employment and non-patent litigation matters since 2015. She brings a comprehensive legal background in contracts and negotiations, litigation management, corporate governance, employment law, policy and mergers and acquisitions. "Melissa's contributions to Wolfspeed over the last nine years have been highly valuable, and we are
Gregg Lowe to Depart as President & CEO and as a Member of the Board of Directors Current Chairman Thomas Werner Appointed Executive Chairman Search Process Underway to Identify Permanent CEO Wolfspeed (NYSE:WOLF) today announced that its Board of Directors (the "Board") has determined and agreed with Gregg Lowe that he will depart this month from his roles as Wolfspeed's President and Chief Executive Officer and as a member of the Board. The Board is conducting a search to identify a permanent CEO with the support of a leading global executive search firm. The Board has appointed Thomas Werner, Chairman of the Board, as Executive Chairman while the Board works to identify Wolfs
NEW YORK, Sept. 6, 2024 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, September 23, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from
Credo Technology Group Holding Ltd ("Credo" or the "Company") (NASDAQ:CRDO), an innovator in providing secure, high-speed connectivity solutions that deliver improved power efficiency as data rates and corresponding bandwidth requirements increase throughout the data infrastructure market, today announced the appointment of Clyde Hosein to the Company's board of directors effective April 3, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240401894812/en/Credo Technology Group Holding Ltd Announces Appointment of Industry Veteran Clyde Hosein to Board of Directors (Photo: Business Wire) "Clyde's appointment to the Credo boar
Wolfspeed, Inc. (NYSE:WOLF), the global leader in silicon carbide technology, announced today that Thomas Werner, a board member since 2006, has been elected the new Chairman of the Board, effective immediately. Werner succeeds Darren Jackson, who stepped down as chair after five years in the role. Jackson will continue to serve as a member of the Wolfspeed Board. In addition, Board Member Stacy Smith will replace John Replogle as the Chair of the Governance and Nominations Committee. "Wolfspeed is thrilled to welcome Tom as our new Board Chair," said Gregg Lowe, Wolfspeed President & CEO. "Tom is a proven innovator with vast experience in the energy and semiconductor industries, and will
Wolfspeed, Inc. (NYSE:WOLF), the global leader in silicon carbide technology, announced today that CEO Gregg Lowe has been elected to serve on North Carolina Agricultural and Technical State University's (N.C. A&T) Board of Trustees. N.C. A&T is the nation's No. 1-ranked historically black college or university (HBCU). "North Carolina A&T is proud of our continued strong partnership with Wolfspeed and the appointment of CEO Gregg Lowe to our Board of Trustees," said N.C. A&T Chancellor Harold L. Martin, Sr. "Gregg's leadership and extensive science and technology background will serve as a vital resource for our prestigious university. I look forward to working with him as we provide new
Today, Wolfspeed, Inc. (NYSE:WOLF), the global leader in silicon carbide technology, is pleased to announce the promotion of Priya Almelkar to Senior Vice President, IT and Chief Information Officer. Almelkar succeeds David Costar and becomes the fifth female member of Wolfspeed's esteemed senior leadership team. "Over her two-and-a-half-year tenure with Wolfspeed, Priya has consistently showcased exceptional technical expertise and inspiring leadership skills," said Gregg Lowe, CEO of Wolfspeed. "Her invaluable contributions have significantly enhanced our company's information systems and processes. Her promotion not only recognizes her skills and contributions, but also reinforces our
Wolfspeed, Inc. (NYSE:WOLF), the global leader in Silicon Carbide technology, announced today that Stacy Smith has been appointed to the Company's Board of Directors, effective January 23, 2023. Mr. Smith is the Executive Chairman of Kioxia Corporation (formerly Toshiba Memory Corporation), a leading flash memory company, and Non-Executive Chair of the Board at Autodesk, Inc., a global leader in design and make technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230125005195/en/Stacy Smith (Photo: Business Wire) "With his vast experience in the technology and semiconductor industries, Stacy will be an invaluable asset for
Wolfspeed, Inc. (NYSE:WOLF), the global leader in Silicon Carbide technology, today announced the promotion of Elif Balkas to Chief Technology Officer, succeeding the late Dr. John Palmour, a co-founder of Wolfspeed. "Since her start with Wolfspeed in 2006, Elif has been instrumental in our technology and production development, and she was the clear choice to help steer Wolfspeed as we continue to lead the transition from silicon to Silicon Carbide," said Wolfspeed CEO Gregg Lowe. "One of John's greatest legacies is the talent he nurtured and developed on the Wolfspeed team, and we are confident Elif will continue to drive innovation in Silicon Carbide with passion, ingenuity and leadersh