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   Technology StocksCree Inc.


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To: slacker711 who wrote (10454)10/4/2021 9:12:56 AM
From: robert b furman
   of 10502
 
Cohu has thermal burn in products.

FWIW, Aehr's owner/founder Rhea, worked for Cohu a long time ago.

Bob

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From: EvanG10/6/2021 7:27:30 PM
   of 10502
 
Infineon had a Capital Markets Day.
  • Estimating 90% growth in FY22
  • If coloring of bar graph is accurate then ratio skewed to industrial as opposed to automotive
  • Expecting 30% market share
  • Converting Si lines in Austria to SiC

infineon.com




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To: EvanG who wrote (10460)10/6/2021 10:58:46 PM
From: Lou Weed
   of 10502
 
Impressive.......

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From: slacker71110/26/2021 9:31:17 AM
1 Recommendation   of 10502
 
FWIW, the GM deal was part of the $2.9 billion in design-ins announced for FY '21.

Earnings tomorrow.

unhedged.com

We continue to convert device pipeline opportunities at record levels, as evidenced by the more than 1,100 customer projects designed in at this year alone. In fiscal 2021, we secured approximately $2.9 billion of design in commitments, which include a major strategic sourcing agreement with General Motors for silicon carbide devices to power their electric vehicle platforms.

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From: slacker71110/27/2021 4:14:25 PM
1 Recommendation   of 10502
 
Finally seeing the acceleration in revenue.

Wolfspeed Reports Financial Results for the First Quarter of Fiscal Year 2022
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October 27, 2021 - 4:05 pm
DURHAM, N.C.Wolfspeed, Inc. (NYSE: WOLF), formerly known as Cree, Inc., today announced revenue of $156.6 million for its first quarter of fiscal 2022, ended September 26, 2021. This represents a 36% increase compared to revenue from continuing operations of $115.5 million reported for the first quarter of fiscal 2020, and a 7% increase compared to the fourth quarter of fiscal 2021. GAAP net loss from continuing operations for the first quarter of fiscal 2022 was $70.1 million, or $0.60 per diluted share, compared to GAAP net loss from continuing operations of $75.3 million, or $0.69 per diluted share, for the first quarter of fiscal 2021. On a non-GAAP basis, net loss from continuing operations for the first quarter of fiscal 2022 was $23.8 million, or $0.21 per diluted share, compared to non-GAAP net loss from continuing operations for the first quarter of fiscal 2021 of $26.5 million, or $0.24 per diluted share.

"We are pleased to report a solid fiscal first quarter, our fifth consecutive quarter of revenue growth bolstered by the rapidly expanding marketplace for Silicon Carbide products. We are driving the transition to Silicon Carbide-based solutions during a period of momentous change, which is demonstrated by our expanding list of customers and formal name change," said Wolfspeed Chief Executive Officer, Gregg Lowe. "We remain confident that the business is well positioned to realize its full potential as a pure-play global semiconductor powerhouse."

Business Outlook:

For its second quarter of fiscal 2022, Wolfspeed targets revenue in a range of $165 million to $175 million. GAAP net loss is targeted at $69 million to $73 million, or $0.59 to $0.63 per diluted share. Non-GAAP net loss is targeted to be in a range of $19 million to $23 million, or $0.16 to $0.20 per diluted share. Targeted non-GAAP net loss excludes $50 million of estimated expenses, net of tax, related to stock-based compensation expense, amortization or impairment of acquisition-related intangibles, factory optimization restructuring and start-up costs, net accretion on convertible notes, interest income from transaction-related note receivable and project, transformation, transaction and transition costs.


Quarterly Conference Call:

Wolfspeed will host a conference call at 5:00 p.m. Eastern time today to review the highlights of the first quarter results and the fiscal second quarter 2022 business outlook, including significant factors and assumptions underlying the targets noted above.

The conference call will be available to the public through a live audio web broadcast via the Internet. For webcast details, visit Wolfspeed's website at investor.wolfspeed.com/events.cfm.

Supplemental financial information, including the non-GAAP reconciliation attached to this press release, is available on Wolfspeed's website at investor.wolfspeed.com/results.cfm.

About Wolfspeed, Inc.

Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of Silicon Carbide and GaN technologies. We provide industry-leading solutions for efficient energy consumption and a sustainable future. Wolfspeed’s product families include Silicon Carbide materials, power-switching devices and RF devices targeted for various applications such as electric vehicles, fast charging, 5G, renewable energy and storage, and aerospace and defense. We unleash the power of possibilities through hard work, collaboration and a passion for innovation. Learn more at www.wolfspeed.com.

Wolfspeed® is a registered trademark of Wolfspeed, Inc.

Non-GAAP Financial Measures:

This press release highlights the Company's financial results on both a GAAP and a non-GAAP basis. The GAAP results include certain costs, charges and expenses that are excluded from non-GAAP results. By publishing the non-GAAP measures, management intends to provide investors with additional information to further analyze the Company's performance, core results and underlying trends. Wolfspeed's management evaluates results and makes operating decisions using both GAAP and non-GAAP measures included in this press release. Non-GAAP results are not prepared in accordance with GAAP and non-GAAP information should be considered a supplement to, and not a substitute for, financial statements prepared in accordance with GAAP. Investors and potential investors are encouraged to review the reconciliation of non-GAAP financial measures to their most directly comparable GAAP measures attached to this press release.

Change in Estimate:

As a result of the LED Business Divestiture and the Company's continued investment in 200mm technology, the Company evaluated the useful lives applied to certain machinery and equipment assets by considering industry standards and reviewing the assets' historical and estimated future use. In the first quarter of fiscal 2022, the Company increased the expected useful lives of these assets by two to five years to more closely reflect the estimated economic lives of those assets. This change in estimate was applied prospectively effective for the first quarter of fiscal 2022 and resulted in a decrease in depreciation expense of $8.4 million for the first quarter of fiscal 2022. Approximately $7.1 million of the decrease in depreciation expense resulted in a reduction of inventory as of September 26, 2021 and will impact cost of revenue, net in future periods as the inventory is relieved. The remaining $1.3 million of reduced depreciation expense resulted in the following: (1) an improvement in gross profit of $0.5 million; (2) an improvement in both loss before income taxes and net loss of $1.3 million; and (3) an improvement in basic and diluted loss per share of $0.01 per share.

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To: slacker711 who wrote (10338)10/28/2021 7:32:12 AM
From: slacker711
1 Recommendation   of 10502
 
The single most important comment was that Cree may need to build a 2nd mega fab by the '24/'25 timeframe.

31m mark

"I would envison that even this quantity which we have put in place is maybe not enough and we have to consider to build a 2nd mega fab by '24 '25 timeframe"





During the earnings call, management said that they would consider "opportunistically" raising cash. In my experience, companies don't mention that unless there is a fairly high likelihood of it happening. I think they are preparing for the construction of a 2nd mega fab.

This was mentioned in the spring at a Yole conference (the post I am responding to has the details).





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From: slacker71110/28/2021 4:04:45 PM
2 Recommendations   of 10502
 
Positively insane day.

I hope everybody enjoys the moment with their beverage of choice tonight :-).

Hamster Dance!


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To: slacker711 who wrote (10465)10/28/2021 6:02:08 PM
From: John Hayman
1 Recommendation   of 10502
 
Congratulations, what a ride.

I remember that Hamster dance from the old days on Qcom board.

John

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To: slacker711 who wrote (10463)10/31/2021 1:03:46 PM
From: EvanG
2 Recommendations   of 10502
 
Finally seeing the acceleration in revenue.

STM had a similar situation to Wolfspeed with respect to Malaysia. They had $100 million in sales impacted, but stated that they never stopped producing wafers at front end fabs. Held them in inventory and expect to catch up on the back end processing during Q4 leading to a large bump in automotive revenue for that quarter. Seems like that scenario could play out for Wolfspeed. Perhaps it will get clarified in any calls that get scheduled.

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From: slacker71111/2/2021 6:59:26 AM
2 Recommendations   of 10502
 
onsemi has suddenly become a formidable competitor in SiC. They are projecting a revenue run-rate of $1 billion from SiC by the end of '23.

My speculation is that they might have won a design in with Tesla. The ramp is so fast that it is hard to see who else could be awarding these volumes. It seems unlikely that they had $1.5 billion in inverter design wins two years ago.

They are also sampling 200mm devices by the end of January. I'm still skeptical that this will quickly lead to commercial 200mm devices, but we'll see. If it does, they got an absolute steal in GTAT.

seekingalpha.com

As we outlined at our Analyst Day, our goal is to provide our customers in the industrial and automotive end markets with highly differentiated intelligent power and sensing solutions, and we are investing to achieve that goal. With GTAT market-leading silicon carbide substrate technology On Semi is now the only silicon carbide player in the industry with end-to-end capabilities encompassing modules, devices, and substrates. Our acquisition of GTAT has been a catalyst for key automotive customers to engage in long-term strategic partnerships with us, and we can expect GTAT to be a critical enabler of our impending ramp in our silicon carbide business. In fact, in Q4, 2021, we will be shipping silicon carbide product based revenue utilizing the GTAT substrate. I am also excited to announce that GTAT has delivered 200 millimeter bowls, which we have processed at our ON Semi manufacturing facility and we'll be sampling our first devices in January 2022. We welcome the GTAT team to the ON Semi family and look forward to expanding its capacity to support our silicon carbide growth plans. On a year-to-date basis, our power design win funnel grew by 75% year-over-year.

At the end of the Third Quarter, we have signed a LTSA or committed revenue of $2.5 billion over 3 years for our Power Solutions. Over $2 billion of this committed revenue is for our Silicon Carbide solutions for automotive and industrial applications and 2/3 of this committed revenue is for traction inverters for electric vehicles. We expect to exit 2023 with Silicon Carbide revenue run rate, of about $1 billion. The demand of our Intelligent Power and Sensing Solutions in our strategic end markets, continues to outpace our current supply capability. The strength and demand is driven by secular mega trends such as vehicle electrification, ADAS, Industrial Automation, and transition to alternative energy from fossil fuel-based power generation. For the third quarter, automotive and industrial end markets together grew 42% year-over-year.

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