NEW YORK, Jan. 9, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Wolfspeed, Inc. (NYSE: WOLF).Shareholders who purchased shares of WOLF during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/wolfspeed-loss-submission-form/?id=121464&from=4CLASS PERIOD: August 16, 2023 to November 6, ...

Market Performance - Shares of Rivian, Wolfspeed, and Navitas Semiconductor fell by 5.7%, 15.2%, and 13% respectively as of 12:25 p.m. ET on Wednesday [1] - Wolfspeed's stock has already declined by 85% over the past year, while Navitas is down 50% over the same period [8][9] Company Overview - Rivian is an emerging electric vehicle (EV) manufacturer [2] - Wolfspeed is a key player in silicon carbide (SiC) wafer production and SiC-based chips, primarily used in EVs [2] - Navitas Semiconductor is a small-cap chip designer specializing in SiC and gallium nitride power chips for EVs, industrial, and consumer electronics [2] Industry Challenges - The EV and power semiconductor sectors are facing weak demand, exacerbated by a large Japanese competitor's layoff announcement [3] - Renesas, a major automotive and industrial chipmaker, announced layoffs of 5% of its workforce, amounting to approximately 1,000 employees, signaling continued weak demand in the sector [4][5] - The prolonged downturn in the semiconductor industry, now lasting almost three years, is unusual given that typical cycles last about one and a half to two years [5] Contributing Factors - Higher-for-longer interest rates, an extended economic downturn in China, and a slowdown in EV adoption in the U.S. and Europe are contributing to the extended industry downturn [6] - Rivian reported a $1.1 billion operating loss in the third quarter despite beating analyst expectations for fourth-quarter deliveries [7] - Wolfspeed is taking on significant debt to build new SiC factories, which could lead to financial trouble if anticipated demand does not materialize [8] - Navitas has seen stagnating revenues and continued operating losses, though it does not face the same debt issues as Wolfspeed [9] Investor Implications - The prolonged downturn in EV and semiconductor stocks has been frustrating for investors, with the Renesas layoff announcement suggesting further delays in recovery [10] - Investors are advised to focus on profitable companies with strong balance sheets that can weather industry weakness and potentially benefit from consolidation [11] - Financially stronger companies in the sector are seen as safer investments compared to higher-risk, higher-upside companies like Rivian, Wolfspeed, and Navitas [12]

Which of these chipmakers is the better buy right now?The rapid expansion of the artificial intelligence (AI) market is generating strong tailwinds for many chipmakers. Nvidia, the leading producer of high-end data center GPUs, has probably been the biggest winner. Its stock has soared by about 2,470% over the past five years.Nvidia continues to have potential as a great long-term investment in the future of the AI market, but investors shouldn't overlook two other chipmakers that are expected to profit fro ...

RADNOR, Pa., Jan. 7, 2025 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com)  informs investors that a securities class action lawsuit has been filed against Wolfspeed, Inc. ("Wolfspeed") (NYSE: WOLF) on behalf of those who purchased or otherwise acquired Wolfspeed securities between August 16, 2023, and November 6, 2024, inclusive (the "Class Period"). The lead plaintiff deadline is January 17, 2025.CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:     If you suffered Wolfspeed los ...

Stock Performance - Wolfspeed stock gained 4 1% as of 2 45 p m ET and had been up as much as 12 4% earlier in the session [1] - The S&P 500 index climbed 0 5% and the Nasdaq Composite index was up 0 1% [1] Industry Momentum - The semiconductor industry is experiencing strong bullish momentum due to Foxconn's Q4 report [2] - Foxconn reported record sales in Q4 with strong demand for AI hardware being a key performance catalyst [3] - The positive results from Foxconn helped kick off rallies for major chip players like Nvidia and Micron as well as smaller players in the semiconductor field [3] CES Conference Impact - Wolfspeed stock is likely benefiting from the upcoming CES conference which kicks off with a keynote by Nvidia CEO Jensen Huang [4] - CES is frequently used by tech companies to discuss growth strategies and unveil new products and investors may be anticipating big news from Wolfspeed [4] - However Wolfspeed has not shared much about its plans at CES and is still in the early stages of a substantial restructuring initiative [5] - The company is in the process of finding its next CEO and filling other management roles and may wait until the new leadership team is in place before outlining its next steps [5]

Shares of semiconductor company Wolfspeed (WOLF 8.09%) tumbled 30.5% last month, according to data provided by S&P Global Market Intelligence, as investors processed two bits of bad news for the company.The first was a report by Axios highlighting the company's recent struggles with management and attempts to grow its silicon carbide chips business. The second setback came from a law firm suing the company for alleged securities fraud. Losing investor confidence Wolfspeed transitioned to focusing on silicon ...

NEW YORK, Jan. 6, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Wolfspeed, Inc. (NYSE: WOLF).Shareholders who purchased shares of WOLF during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/wolfspeed-loss-submission-form/?id=120440&from=4CLASS PERIOD: August 16, 2023 to November 6, ...

NEW YORK, Jan. 05, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Wolfspeed, Inc. (NYSE: WOLF) between August 16, 2023 and November 6, 2024, both dates inclusive (the “Class Period”), of the important January 17, 2025 lead plaintiff deadline. SO WHAT: If you purchased Wolfspeed securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join ...

NEW YORK, Jan. 4, 2025 /PRNewswire/ --Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Wolfspeed, Inc. (NYSE: WOLF) between August 16, 2023 and November 6, 2024, both dates inclusive (the "Class Period"), of the important January 17, 2025 lead plaintiff deadline.So what: If you purchased Wolfspeed securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.What to do next: To join the Wolfs ...

RADNOR, Pa., Jan. 03, 2025 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of New York against Wolfspeed, Inc. (“Wolfspeed”) (NYSE: WOLF) on behalf of those who purchased or otherwise acquired Wolfspeed securities between August 16, 2023, and November 6, 2024, inclusive (the “Class Period”). The lead plaintiff deadline is January 17, 2025 ...