Exhibit 99.1 Wolfspeed Reports Financial Results for the Fourth Quarter and Full Fiscal Year 2024 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 DURHAM, N.C. August 21, 2024 -- Wolfspeed, Inc. (NYSE: WOLF) today ...

Introduction The stock of Wolfspeed (NYSE:WOLF), a business that was previously noted for its specialization in RF (Radio-frequency) devices but is now a pure-play silicon carbide materials entity, has experienced a disastrous 12 months; over the past year, when the Nasdaq has been resilient, generating returns of +36%, WOLF has proven to be a source of significant wealth destruction, contracting by 63%. VAL Wolfspeed Inc (WOLF) Total Return -62.65% Invesco QQQ Trust (QQQ) Total Return 36.41% Jan '24 Oct '2 ...

Please visit our website to review more information and submit your transaction information. Investors can contact the law firm at no cost to learn more about recovering their losses Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims to recov ...

NEW YORK, May 16, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Wolfspeed, Inc. ("Wolfspeed" or the "Company") (NYSE: WOLF). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.The investigation concerns whether Wolfspeed and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.[Click here for information about joining the class action]On August 16, 2023, Wolfspe ...

Wolfspeed (WOLF) reported a third-quarter fiscal 2024 non-GAAP loss of 62 cents per share, narrower than the Zacks Consensus Estimate of a loss of 64 cents per share but broader than the year-ago quarter’s loss of 34 cents per share.Revenues of $200.7 million increased 4.2% year over year but lagged the consensus mark by 0.39%. Mohawk Valley Fab contributed $28 million in revenues in the reported quarter.Power Products accounted for 50.9%, while Materials Products contributed 49.1%. Power Products revenues ...

Yeah and let me just add on to that. Well, I think -- and I fully agree, I think we're at the very early stages of the opportunity we have to drive cost down. And I think the early returns on yield and cycle times that we're seeing in the fab really only reinforce that even further. I think there's also a structural component to the business that we're building here. If you look at the cash margins or you look at that EBITDA target of about 40% over the time. If you look at our business today, we'll do abou ...

Wolfspeed (WOLF) came out with a quarterly loss of $0.62 per share versus the Zacks Consensus Estimate of a loss of $0.64. This compares to loss of $0.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.12%. A quarter ago, it was expected that this maker of energy-efficient lighting would post a loss of $0.63 per share when it actually produced a loss of $0.55, delivering a surprise of 12.70%.Over the last four quarters, the ...

Activist Commentary: Jana is a very experienced activist investor founded in 2001 by Barry Rosenstein. The firm made its name taking deeply researched activist positions with well-conceived plans for long term value. Rosenstein called his activist strategy "V cubed." The three "Vs" were" (i) Value: buying at the right price; (ii) Votes: knowing whether you have the votes before commencing a proxy fight; and (iii) Variety of ways to win: having more than one strategy to enhance value and exit an investment. ...

Wolfspeed (WOLF) shares ended the last trading session 7.9% higher at $23.94. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 18.8% loss over the past four weeks.Wolfspeed has evolved into a pure-play silicon carbide provider through portfolio optimization initiatives that concluded with the sale of its RF business. It expects to be one of the top silicon carbide device suppliers over the next five years thanks to ...

Why Wolfspeed Stock Rallied 10% Today Bigc Studio / Shutterstock.com Wolfspeed (NYSE: WOLF) was one of the best performers on Wall Street today. The stock climbed as high as 10% to finally end the session just below $25 per share. While that’s still a far cry from its 52-week high of $70, Wolfspeed investors aren’t complaining after watching shares slashed in half year-to-date. The Durham, North Carolina-based company, whose silicon carbide technology is used in EVs around the world, is reportedly the tar ...