RADNOR, Pa., Dec. 22, 2024 (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 ...

Sales in the semiconductor industry are surging thanks to the secular trends of artificial intelligence (AI) and electric vehicles (EVs). The semiconductor market is forecast to reach more than $600 billion in 2024, and rise to $1 trillion by 2030, making investments in chip companies a good way to capitalize on this growth.Two semiconductor industry leaders to consider are Wolfspeed (WOLF 0.57%) and Nvidia (NVDA 3.08%). The former commands over 50% market share in the silicon carbide (SiC) wafer sector, wh ...

Seemingly overnight, artificial intelligence became a major growth industry. The global AI market was valued at $93 billion in 2020, and now, it's expected to hit $244 billion in 2025.The AI boom is driving demand for semiconductors, which are crucial components in AI systems. These components provide efficient energy use for the data centers housing AI tech and computing power for AI to execute tasks. This makes investing in semiconductor stocks a great way to capitalize on the AI market's expansion.Two co ...

Core Viewpoint - A securities class action lawsuit has been filed against Wolfspeed, Inc. for allegedly making false and misleading statements regarding its growth potential and product demand during the specified class period from August 16, 2023, to November 6, 2024 [7][8]. Group 1: Lawsuit Details - The lead plaintiff deadline for investors to seek representation is January 17, 2025 [6][7]. - The lawsuit is being prosecuted by Kessler Topaz Meltzer & Check, LLP, a firm known for recovering billions for victims of corporate misconduct [3][4]. Group 2: Allegations Against Wolfspeed - The complaint alleges that Wolfspeed overstated the growth potential of its Mohawk Valley fabrication facility and the demand for its 200mm wafers in the electric vehicle market [8]. - It is claimed that Wolfspeed's optimistic revenue projections, including a $100 million revenue per quarter with only 20% utilization and a promised $2 billion revenue, were not realistic [8].

NEW YORK, Dec. 19, 2024 /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=117263&from=4CLASS PERIOD: August 16, 2023 to November 6 ...

NEW YORK, Dec. 18, 2024 (GLOBE NEWSWIRE) --  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=117005&from=3 CLASS PERIOD: August 16, 2023 to N ...

A lot can happen in a year. Just look at semiconductor specialist Wolfspeed (WOLF -1.88%). Last December, its stock reached a 52-week high of $47.43. Last month, the shares hit a low of $6.10.During this past year, as part of a strategic shift, the company divested itself of its radio-frequency (RF) devices business. Also, its CEO exited the company. Those were just some of the changes that affected the beleaguered stock.As of Dec. 13, Wolfspeed shares were down by more than 80% in 2024. Does this mean it's ...

Core Insights - Wolfspeed's silicon carbide chips are positioned for significant success in the semiconductor market due to their efficiency and performance advantages [1] - Despite the potential, there are considerable risks associated with investing in Wolfspeed, including market competition and technological challenges [1] Company Overview - Wolfspeed specializes in silicon carbide technology, which is crucial for high-performance applications in electric vehicles and renewable energy [1] - The company is recognized for its innovative approach in the semiconductor industry, focusing on sustainability and energy efficiency [1] Market Potential - The demand for silicon carbide chips is expected to grow substantially, driven by the increasing adoption of electric vehicles and advancements in power electronics [1] - Wolfspeed's technology could capture a significant share of the expanding market, potentially leading to substantial revenue growth [1] Investment Risks - The semiconductor industry is highly competitive, with numerous players vying for market share, which poses a risk to Wolfspeed's growth prospects [1] - Technological advancements by competitors could impact Wolfspeed's market position and profitability [1]

Core Viewpoint - Wolfspeed, Inc. has faced significant stock price decline following disappointing financial results and lowered guidance, attributed to slower-than-expected demand ramp-up from electric vehicle (EV) customers [2]. Group 1: Financial Performance - Wolfspeed announced its financial results for Q1 of fiscal year 2025 on November 6, 2024, revealing guidance for Q2 that was well below market expectations [2]. - The company had previously projected that 20% utilization of its Mohawk Valley fabrication facility would yield $100 million in revenue, but now expects a revenue range that is 30% to 50% below that figure [2]. - Following the announcement, Wolfspeed's stock price plummeted from $13.71 per share to $8.33 per share, marking a decline of approximately 39.24% in just one day [2]. Group 2: Class Action Notice - Shareholders who purchased shares of Wolfspeed during the class period from August 16, 2023, to November 6, 2024, are encouraged to contact the Gross Law Firm regarding potential lead plaintiff appointment [1][2]. - The deadline for shareholders to register for the class action is January 17, 2025, and there is no cost or obligation to participate [3]. - Once registered, shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle [3]. Group 3: Legal Context - The Gross Law Firm aims to protect investors' rights who have suffered losses due to misleading statements or omissions by companies, which can lead to artificial inflation of stock prices [4].

RADNOR, Pa., Dec. 14, 2024 /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 losses, ...