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Wolfspeed Inc (ticker: WOLF) is an American developer and manufacturer of wide-bandgap semiconductors, specializing in silicon carbide (SiC) and gallium nitride (GaN) materials and devices for power and radio-frequency applications. Headquartered in Durham, North Carolina, Wolfspeed traces its roots to the 1987 founding of Cree Research, which was rebranded as Wolfspeed in October 2021. The company supplies components for electric vehicles, power supplies, inverters, and wireless systems, focusing on efficiency and elevated temperature operation compared with traditional silicon semiconductors.
Corporate Structure
Wolfspeed employs between 1,001 and 5,000 people across research, manufacturing, and administrative functions. Its workforce includes engineers, materials scientists, and semiconductor specialists. The company holds over 6,000 patents and maintains end-to-end silicon carbide substrate and device fabrication in the United States, forming what it describes as the first U.S.-based SiC corridor. Leadership includes CTO Elif Balkas, recognized by industry groups such as PowerAmerica for contributions to SiC and GaN commercialization.
Semiconductors by Christian Wiediger
Developments and News
On June 30, 2025, Wolfspeed filed for Chapter 11 bankruptcy protection under a Restructuring Support Agreement. Following this filing, all previously outstanding shares of common stock were canceled. On September 29, 2025, the company emerged from Chapter 11 and issued new equity representing 3%–5% of the reorganized capital to existing shareholders.
On October 7, 2025, three institutional investors reported significant stakes in Wolfspeed: T. Rowe Price Associates, Inc. (14.8%), FMR LLC (12.4%), and Capital Research Global Investors (10.7%). These filings reflect ownership positions as of September 30, 2025.
Financial and Strategic Analysis
On October 9, 2025, Wolfspeed’s stock traded at $35.97 on the New York Stock Exchange, which represented an increase of 18.48% for the day, with a volume of 1,364,633 shares. Key financial metrics (trailing twelve months) include revenue of $757.6 million, a net loss of $1.61 billion (profit margin: -212.4%), and diluted EPS of -$11.39. The balance sheet indicates $1.06 billion in cash and negative levered free cash flow of -$2.13 billion. The restructuring reportedly reduced debt obligations and reset equity, while the increase in institutional ownership suggests renewed investor interest in Wolfspeed’s future performance.
| Metric | Value |
|---|---|
| Stock Price (2025-10-09) | $35.97 |
| Day Change | +18.48% |
| Volume | 1,364,633 |
| Market Capitalization (intraday) | $784.5 M |
| Revenue (ttm) | $757.6 M |
| Net Income (ttm) | -$1.61 B |
| Cash (mrq) | $1.06 B |
Market Position and Industry Context
Wolfspeed operates in the global semiconductor market, where demand for wide-bandgap devices is driven by electrification of transportation, renewable energy integration, and higher-efficiency power conversion. The company’s production capabilities in the U.S. differentiate it amid supply-chain shifts toward domestic manufacturing. Wolfspeed’s Marcy, New York, 200mm SiC wafer facility opened in April 2022, supported by a $500 million New York State grant and up to $750 million in direct funding from the U.S. government announced in October 2024. A planned factory in Germany has been delayed to mid-2025 and is on hold as of October 2024 due to market and regulatory challenges in Europe. Competitive pressures include established silicon suppliers and other SiC/GaN specialists, while government incentives under the Chips Act aim to bolster domestic semiconductor production.
tl;dr
- Filed for Chapter 11 on June 30, 2025; emerged September 29, 2025, with old equity canceled and new shares issued (3%–5%).
- Stock increased 18.48% to $35.97 on October 9, 2025, with heightened trading volume.
- Institutional filings on October 7, 2025, show T. Rowe Price at 14.8%, FMR LLC at 12.4%, and Capital Research at 10.7%.
- Trailing revenue of $757.6 million and cash of $1.06 billion contrast with a $1.61 billion net loss and negative free cash flow.
- U.S. SiC production corridor established; European facility on hold; government funding supports North American capacity.
