Scott Ostfeld, managing partner and portfolio manager with JANA Partners LLC., speaks during the 13D Monitor's Active-Passive Investor Summit in New York City, U.S., October 17, 2023.Activist investor Jana Partners has a built a "significant" position in semiconductor firm Wolfspeed and is calling on the company to resolve a "staggering erosion of shareholder value," up to and including a sale.The activist disclosed the position in a Monday letter to Wolfspeed's board viewed by CNBC, where it wrote that the ...

Swing traders looking to grab a quick profit should turn their eyes toward semiconductor specialist Wolfspeed (NYSE:WOLF). Offering silicon carbide and other critical materials necessary to produce components for the radio frequency and power industries, WOLF stock essentially represents a stagehand investment: It’s not the headline act, but it keeps the show running.However, Wolfspeed is financially volatile. For example, in the second quarter of 2023, the company posted a loss per share of 42 cents. That ...

Wolfspeed Inc (NYSE:WOLF) stock is down 4.9% to trade at $26.38 at last check, after a downgrade from Wells Fargo to "equal weight" from "overweight," and a price-target cut to $30 from $55. The analyst in coverage noted weaker-than-expected demand for silicon carbide devices, higher supplies, and the company's lack of profitability.The security has struggled with a ceiling at the $30 level since February, while pressure from its 60-day moving average has been in place since January. While the shares manage ...

Wolfspeed (WOLF) closed the latest trading day at $26.08, indicating a +0.19% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.65%. At the same time, the Dow lost 0.49%, and the tech-heavy Nasdaq lost 0.96%.Shares of the maker of energy-efficient lighting have depreciated by 7.1% over the course of the past month, underperforming the Computer and Technology sector's gain of 2.19% and the S&P 500's gain of 3.27%.The upcoming earnings release of Wolfspeed ...

The latest trading session saw Wolfspeed (WOLF) ending at $28.07, denoting a +0.32% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.11%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 0.41%.Shares of the maker of energy-efficient lighting witnessed a loss of 3.58% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.42% and the S&P 500's gain of 2.7%.The upcoming earnings release of Wolfspeed will ...

Wolfspeed signs first apprentice for Registered Apprenticeship Program to support workforce development for its Mohawk Valley Fab HANOVER, Md., March 4, 2024 /PRNewswire/ -- Today the National Institute for Innovation and Technology and the United States Department of Labor (USDOL) applauded U.S. semiconductor manufacturing company Wolfspeed for the establishment of its New York Registered Apprenticeship Program (RAP). As the nation's leader in semiconductor talent pipeline development, the Institute serves ...

A month has gone by since the last earnings report for Wolfspeed (WOLF) . Shares have lost about 7.5% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Wolfspeed due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Wolfspeed Reports Loss in Q2 Earnings, Revenues Up Y/Y ...

Wolfspeed (WOLF) closed the latest trading day at $26.02, indicating a +1.84% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.52%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq increased by 0.9%.Coming into today, shares of the maker of energy-efficient lighting had lost 21.51% in the past month. In that same time, the Computer and Technology sector gained 1.9%, while the S&P 500 gained 3.85%.The invest ...

Wolfspeed (WOLF) reported a second-quarter fiscal 2024 non-GAAP loss of 55 cents per share, narrower than the Zacks Consensus Estimate of a loss of 63 cents per share but broader than the year-ago quarter’s loss of 11 cents per share.Revenues of $208.4 million increased 20% year over year and beat the consensus mark by 1.19%. Mohawk Valley Fab contributed $12 million in revenues in the reported quarter.Power Products accounted for 51.7%, while Materials Products contributed 48.3%. Power Products revenues in ...

Financial Data and Key Metrics Changes - The company generated revenue of $208 million for the quarter, a 5.6% increase sequentially and nearly 20% year-over-year [65] - Non-GAAP gross margin in the second quarter was 16.4%, representing an 80 basis point improvement from the prior quarter [67] - Non-GAAP EPS of negative $0.55 surpassed guidance, despite underutilization costs of $35.6 million [60][68] Business Line Data and Key Metrics Changes - Power device revenue reached a record $108 million, driven largely by contributions from the Mohawk Valley facility [65] - Materials revenue was approximately $90 million to $95 million, down from $101 million in the prior quarter, but still showed strong execution [73] - The Mohawk Valley Fab contributed approximately $12 million to quarterly revenue, tripling from the previous quarter [47] Market Data and Key Metrics Changes - The company noted persistent weakness in industrial and energy markets, particularly in China and Asia, impacting revenue from the Durham Fab [75] - The EV-related device revenue saw a sharp increase of about 30% quarter-over-quarter, but was offset by lower industrial energy revenue [10] Company Strategy and Development Direction - The company is focused on ramping the Mohawk Valley facility to achieve 20% utilization by the June quarter and $100 million in revenue by the December quarter [44][79] - There is a commitment to ramping the JP facility in Siler City, with expectations for boule production to start by the end of calendar 2024 [54] - The company aims to maintain a long-term goal of 50% margin for the overall business, with materials products already in that range [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand for high-quality wafers, indicating a favorable pricing environment [4] - The industrial business is expected to recover eventually, but management does not anticipate improvement within the current calendar year [8] - The transition from internal combustion engines to electric vehicles is ongoing, with a significant increase in the appetite for silicon carbide across various OEMs [21][22] Other Important Information - The company completed the sale of its RF Business to MACOM, with results classified as discontinued operations [40] - The company ended the quarter with over $2.6 billion in cash and liquidity to support growth plans [69] Q&A Session Summary Question: What is the potential for Mohawk to ramp up to 20% utilization? - Management noted that the team has relieved bottlenecks and is confident in achieving the 20% utilization target by the June quarter, with $100 million in revenue expected by December [94] Question: What changes are seen in the conversion of design-ins to design-wins? - The company reported a record conversion of $2.9 billion to design-wins, indicating strong customer interest and confidence in technology [97]