Wolfspeed Inc is a leading company specializing in the development and manufacturing of wide-bandgap semiconductors, primarily based on silicon carbide and gallium nitride technologies. These advanced materials enable more efficient and powerful electronic devices, playing a crucial role in applications such as renewable energy, electric vehicles, and 5G telecommunications. The company focuses on innovation in the semiconductor industry, providing solutions that enhance performance, reduce energy consumption, and drive the transition to sustainable technologies. With a commitment to advancing semiconductor technology, Wolfspeed is positioned at the forefront of the growing demand for high-performance electronic components. Read More
Silicon carbide component manufacturer Wolfspeed Inc. (NYSE: WOLF) is preparing to file for prepackaged Chapter 11 bankruptcy protection in the coming weeks.
A Wall Street Journal report said the move may have been to tackle the upcoming debt maturities that could affect its ability to secure up to $750 million in government funding under the 2022 Chips Act.
Citi downgraded Wolfspeed to ‘Sell’ from ‘Neutral’, flagging risks like the lack of guidance for the June quarter and management's failure to take questions during the third-quarter earnings call.
