Wolfspeed Technologies of Durham, NC provides silicon carbide (SiC) materials and power devices such as Schottky diodes and MOSFETs as well as radio frequency (RF) devices to customers worldwide. Wolfspeed’s cutting-edge technology can be found powering electric vehicles, fast charging systems, renewable energy storage solutions and telecommunication systems.
The company has spent billions on new plants but has yet to show much in terms of revenue or profit growth – this may change soon enough.
Automotive
As more people switch to electric vehicles, Wolfspeed’s Silicon Carbide chips will help them achieve greater range and power. Formerly known as Cree, the company made a bold move towards EV-oriented technologies in 2021 when they divested their lighting products and RF semiconductor businesses in order to focus exclusively on power SiC devices. Since then they have opened a 200mm fabrication plant in upstate New York as well as an immense materials facility in North Carolina which means they have ample capacity to meet growing customer demand for these EV customers!
Wolfspeed has successfully rebounded after experiencing revenue decline in fiscal 2020, increasing market share to 30% by 2023. Wolfspeed anticipates device industry to be its primary source of long-term growth, with electric vehicle charging and power supplies among their most prominent applications.
To accelerate its growth, the company has invested in two new facilities – in Marcy, New York and Siler City, North Carolina – with one expanding fabrication capacity while expanding fabrication capacity at another plant; Siler City’s addition of wafer production and device manufacturing will enable greater margins on devices with more complex structures or designs; its investment is further supported by billions in design-ins or “design wins” from auto customers that represent theoretical future revenues but aren’t guaranteed.
Aerospace
The aerospace industry entails research, design, production and maintenance of aircraft and spacecraft. As a high-tech industry it features various subsectors including commercial space travel/exploration/repair/maintenance/satellite services among others. All companies operating within this sector must abide by stringent safety protocols while aerospace engineers ensure all components meet these guidelines for safe use.
Wolfspeed stock rose on Friday as sell-side analyst Roth/MKM became more upbeat about customer wins. Roth/MKM maintained its “buy” rating on the stock and increased its price target from $9 to $25 despite spending heavily on new plants but failing to generate meaningful revenues and profits.
Wolfspeed develops and fields field-tested silicon carbide (SiC) and gallium nitride (GaN) power and radio-frequency devices specifically tailored for next-generation telecom infrastructure, military use and other commercial applications. Their Product Stewardship team maintains an active process intended to minimize restricted and reportable materials like lead and cadmium in final products; environmental quality management solutions provided include design for environment, recycling services and supplier hazard analyses; all located within Durham North Carolina. The company currently employs over 20 individuals and is located there as a part of Durham North Carolina.
Energy
Wolfspeed, best-known for their wide bandgap silicon carbide (SiC) semiconductors, manufactures power and radio-frequency (RF) devices that are utilized across applications spanning transportation, power supplies, inverters, wireless systems and wireless networks. Wolfspeed’s products help convert electricity more efficiently with increased reliability.
Their products are specifically tailored to optimize power electronics by reducing driver count and board size, and permitting higher voltage operation; this makes scaling from kilowatts to megawatts possible without costly redesigns – an invaluable benefit for energy companies looking to launch innovative new technologies into the market and beyond.
SiC semiconductors boast superior material properties over silicon, including lower energy consumption and longer durability. Due to these qualities, SiC semiconductors make for ideal use in electric vehicles and plug-in hybrids by increasing driving range per charge and shortening charging times; Wolfspeed’s devices may also be utilized in renewable energy systems, industrial capacity management capacities and artificial intelligence applications.
Mohawk Valley Chipmaker LLC (MOHVK) is currently focused on expanding its 200mm plant in Mohawk Valley, which has already produced some chips. Unfortunately, however, it faces headwinds from a soft EV market and the emergence of Chinese competitors with cheaper wafers – both major sources of competition that trade at discounts relative to its peers. However, its stock is discounted relative to them, making it an appealing investment choice for investors willing to accept some risk. Some key institutional shareholders include Primecap Management Company of CA, Jane Street Group LLC Two Sigma Advisers LP while insiders include Gregg A Lowe and Neill Reynolds among others.
Industrial
Wolfspeed’s silicon carbide (SiC) chips power electric vehicles, fast-charging stations, renewable energy storage solutions and aerospace and defense equipment around the world. Wolfspeed’s innovative SiC chips deliver greater efficiency than standard silicon chips – and can extend an EV’s range. Wolfspeed fabricates its SiC chips on larger 200mm wafers — as opposed to 150mm used by traditional semiconductor production – for production efficiency and precision.
Wolfspeed has invested in two new facilities to keep up with demand, including one of which houses the world’s largest SiC device manufacturing plant in Germany. They are also working closely with educational and career-advancing organizations throughout New York State in order to prepare students for jobs in manufacturing and science industries.
As with Tesla and Onsemi, Exide’s expansion plans can only succeed when carried out smoothly and on schedule. Unfortunately, their rollout of new plants has been mired by delays similar to what Tesla and Onsemi experienced recently.
Wolfspeed’s delays can be traced to its lack of funds, which prevents it from ramping up production. As such, it has explored strategic alternatives — which may include selling its SiC materials business — in order to find solutions. A decision will likely be reached before year’s end; any agreement reached would likely help boost Wolfspeed’s stock price.
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