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.
Elliott Investment Management made several portfolio moves in the fourth quarter, closing multiple options positions and shaking up the activist firm's technology exposure.
The outlook for Wolfspeed remains grim, with gross profit expected to fall nearly 68%, reaching just $11 million. Net losses are forecasted to widen to $129 million.
