Durham, North Carolina—May 2, 2026, 10:06 a.m. EDT
Wolfspeed stock surged almost 25% Friday, putting the silicon-carbide power device maker back in the spotlight just before earnings. Shares finished the session at $36.76. Silicon carbide, according to Wolfspeed, enables power devices that perform more efficiently and switch faster than their silicon-based counterparts.
The timing isn’t incidental. Wolfspeed’s fiscal third-quarter earnings call lands at 5 p.m. Eastern on May 5, with CEO Robert Feurle and CFO Gregor van Issum set to lead the update. Investors are watching closely for new details on demand, margins, and how the company is managing cash after a year marked by major restructuring.
A new filing pushed the move further. On Friday, Capital Ventures International and entities tied to Susquehanna disclosed a 5% stake—2.48 million shares—in Wolfspeed, according to a Schedule 13G. That document, typically required for investors hitting the 5% mark, showed the shares aren’t meant to seek control or influence over the company.
Wolfspeed named two new senior leaders Thursday. Brad Kohn is coming back as executive vice president, chief legal and global affairs officer, starting May 11. Sonja Burfeind steps in as vice president, communications, on July 1. Feurle said these additions should sharpen Wolfspeed’s connections with “customers, shareholders, and policymakers.” Wolfspeed Investor Relations
Wolfspeed’s legal and government-affairs post carries real weight. The company, which only exited Chapter 11 last year, has been working to shore up its finances. In March, Wolfspeed sold $379 million in convertible notes, alongside $96.9 million in common stock and warrants — financial instruments giving holders a shot at buying shares. The total haul helped the company pay down roughly $475.9 million in secured debt. Van Issum described the transaction as an effort to “strengthen our balance sheet,” estimating annual interest costs would drop by about $62 million. Wolfspeed Investor Relations
The numbers, though, are still the wildcard. Wolfspeed turned in roughly $168 million in second-quarter revenue back in February, alongside a net loss of $151 million and $1.3 billion in cash and short-term investments. For the third quarter, the company projected revenue between $140 million and $160 million, adding that gross margin would remain negative. The company blamed softer demand for electric vehicles, and noted that customers are looking for backup suppliers through the bankruptcy process.
The competitive landscape isn’t letting up. Back in October, Reuters noted Wolfspeed—known for its silicon-carbide chips in EVs and green energy gear—was dealing with softer demand from carmakers and pressure from heavyweight rivals like STMicroelectronics and Infineon. Company filings also mention onsemi as a key competitor in the silicon-carbide power device space.
Wall Street remains on the fence. According to MarketBeat, analysts have logged just one Buy, alongside two Holds and three Sell ratings. The average price target sits at $14.33—noticeably under Friday’s close. Tuesday’s update could swing things: signs of sluggish EV demand or extended negative margins might send shares lower fast. On the other hand, stronger orders, cost cuts, or improved factory utilization from Wolfspeed could buy management some patience from investors.
