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   Technology StocksCree Inc.

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To: slacker711 who wrote (10449)9/17/2021 12:49:42 PM
From: Lou Weed
   of 10510
Cree downgrade......

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From: Sam9/20/2021 6:11:40 PM
   of 10510
Cree mentioned on the second page of this article. Not that people here don't know most of what is said, lol.

Top ten tech trends for 2022
September 20, 2021 // By Peter Clarke

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From: slacker7119/23/2021 12:22:14 PM
2 Recommendations   of 10510
Another KRW300bn to Be Invested in GaN Semiconductors
SK Inc. to Invest KRW700bn in SiC Semiconductor Wafers
By Jung Min-hee September 23, 2021, 14:04Share

An SiC wafer for power semiconductors

SK Group will invest 700 billion won in the silicon carbide (SiC) semiconductor wafer business as part of its bid to become the No. 1 player in the world high-tech material market by 2025.

SK Inc., the group’s holding company, recently announced that it will invest 5.1 trillion won in high-tech materials by 2025. Of the total, 700 billion won will be invested in SiC wafers. The company plans to invest another 300 billion won in GaN power semiconductors.

SK Inc. expects its SiC wafer business to generate 30 billion won in sales in 2021, and plans to expand it to 500 billion won by 2025. At the moment, it does not make money in this business but aims to post 200 billion won in earnings before interest, taxes, depreciation and amortization (EBITDA) by 2025.

SiC wafers are an integral part of power semiconductors for electric vehicles, 5G network equipment and solar power generators. They are more resistant to high voltage and heat than silicon (Si) wafers and contribute to making semiconductor chips smaller.

SiC semiconductors can withstand voltages 10 times higher than other semiconductors and operate at 400 degrees Celsius, while Si semiconductors can withstand 175 degrees Celsius at most. Not only are they strong, but their size can be reduced to one-tenth that of Si semiconductors. SK Siltron's SiC wafers reduce power loss by 77 percent and lower weight and volume by 40 percent.

SK Inc. and SK Siltron are paying keen attention to the market of SiC power semiconductors for electric vehicles. In 2018, Tesla created the SiC power semiconductor market as it loaded ST Microelectronics' SiC power chips into its Model 3 for the first time in the automotive industry. Since then, more than 20 automakers have adopted SiC power semiconductors. SK Inc. predicted that the adoption rate of SiC semiconductors for electric vehicles will rise from the current 30 percent to more than 60 percent by 2025, with the SiC wafer market forecast to expand from US$218 million in 2021 to US$811 million by 2025.

SK Inc. plans to preemptively ramp up its production capacity for SiC wafers from 30,000 sheets in 2021 to 600,000 in 2025 to expand its global market share from 5 percent to 26 percent.

SK Group selected SiC wafers and power semiconductors as new growth drivers and has been making massive investment in them for years. SK Siltron entered the SiC wafer business in 2019 by acquiring the SiC wafer business division from DuPont of the United States for US$450 million. In January 2021, SK Inc. invested 26.8 billion won in Yes Power Technics, a Korean company that produces SiC power semiconductors, to take over a 33.6 percent stake in the company. In July, SK Siltron CSS, a U.S. subsidiary of SK Siltron, decided to invest US$300 million in Michigan to expand SiC wafer production facilities. When all facilities are completed and ready to go live, SK Siltron’s production capacity will sextuple. Including this investment of 700 billion won, SK Group invested at least 1.6 trillion won in SiC wafer technology and production alone.

Leading players are also continuing to make large-scale investments. Cree, the No. 1 company, has been building a 450,000-square-meter SiC wafer factory in the U.S. state of New York by investing US$1 billion since 2019. If the wafer factory starts its operations in 2022 as planned, Cree's SiC wafer production capacity will increase over 30-fold from 2017.

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To: slacker711 who wrote (10452)9/24/2021 9:14:42 AM
From: EvanG
1 Recommendation   of 10510
SK Inc posted a new investor presentation. SiC is mentioned throughout it.

Apparently they made an equity investment in YPTX this year.

Which they are partnering with to make SiC power chips.

Expecting 200mm in 2023.

This is the investment plan

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To: EvanG who wrote (10453)9/27/2021 8:14:07 PM
From: slacker711
   of 10510
Any thoughts on Aehr?

I can't find much on competitors offering full wafer level burn-in testing for SiC, though STM appears to be working with Technoprobe. Infineon has said that wafer testing is too expensive and I think Cree is doing sample testing.

Seems like there is a big opportunity if automotive clients require burn-in testing to avoid infant mortality of devices. However, Aehr is tiny and it seems unlikely that none of the established testing equipment companies have their own offerings.

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From: slacker7119/28/2021 9:01:05 AM
   of 10510
From yesterday.

Recommendations Cree price target lowered to $90 from $100 at Deutsche Bank 07:04 CREE, WOLF Deutsche Bank analyst Sidney Ho lowered the firm's price target on Cree to $90 from $100 and keeps a Hold rating on the shares. The analyst expects Cree at the November 17 capital markets day to express continued confidence on its silicon carbide power device pipeline. However, he still has concerns on the likelihood of the company achieving its 50%-54% non-GAAP gross margin goal for fiscal 2024. This requires "perfect execution" on the ramp-up of Mohawk Valley, Ho tells investors in a research note.

Read more at:

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From: EvanG9/30/2021 6:17:45 PM
1 Recommendation   of 10510
China Has Built The World’s Most Expensive Silicon Carbide Fab, But Numbers Don’t Add Up

China has consistently pushed large amounts of money into semiconductors via tax policy, subsidies, and loans. This has resulted in the entrance into the supply chain being sped up, but it isn’t all pretty. Wuhan Hongxin Semiconductor Manufacturing (HSMC) is the most public case of a kerfuffle. Money was raised but squandered and operations never commenced. A $20B project resulted in a mostly empty cleanroom and a trail of unpaid employees and contractors. Creditors and investors were stiffed, and the company eventually collapsed. Our friends over at China Talk have documented the failure in detail. Check it out.

One area China wants to leapfrog the competition is compound semiconductors. Specifically, silicon carbide and gallium nitride based for power and rf applications. As such, huge amounts of money are being poured into this sector. HDSC, GZSC and Tankeblue are each investing more than $100m to build SiC wafer facilities.

The largest such project is Hunan Sanan Semiconductor fab. It aims to be a fully integrated SiC wafer fab from boule growth and slicing all the way to power devices, packaging, and testing. This facility has an eye popping $2.5B price tag for phase 1 and 2 with a total output of 30,000 6” wafers per month. Sanan Optoelectronics, the parent company, has stated the phase 1 was built in less than a year and can already produce 6” SiC wafers.

This seems astounding at first glance, but there are major issues here. Sanan likely means the cleanroom was constructed in that time, but there is simply no way the entire operation was set up and wafers are being churned out. The current output of this fab is still unknown, but our sources in China do not believe they ship anywhere close to 7,500 wafers per month number currently.

Even if we believe Sanan has figured out the incredibly difficult process of boule crystal growth, slicing, polishing, cleaning, doping, epitaxial growth, ion implantation, device manufacturing, and the entire test cycle, the total wafer counts make no sense either. According to Applied Materials, the new Cree Wolfspeed Mohawk valley fab which costs $1.2B will raise their production from under 5,000 wafers per month to about 150,000 6” wafer equivalents. The math just doesn’t add up for the Sanan fab.

SemiAnalysis wants to put a disclaimer on that Applied Material number. It is inflated because the new fab will be the first producing 200mm wafers rather than 150mm wafers like Sanan. 8” and 6” are used interchangeably with 200mm and 150mm respectively. The conversion from 6” to 8” increases area by ~70%. This is an adjustment Applied Materials did in their calculation. Additionally, the Mohawk Valley fab is not only producing devices. Cree Wolfspeed will have more than $600M+ materials business where Cree sells raw unprocessed polished and epitaxial wafers to firms such as Infineon, STMicroelectronics, On Semiconductor, and many others. Cree Wolfspeed will also have a $1B+ device business in the same time frame. Given yield costs for final devices are over 30%, we can adjust the size of the materials/device business to be equivalent.

Regardless of the napkin math and estimates, one thing is clear. The $2.5B Sanan project is more than 2x what Cree Wolfspeed is spending on Mohawk Valley but has well under half the total wafer output. The Sanan fab has many serious technical challenges related to ramping, and they are hand waving them away. The tool chain and process is very custom in silicon carbide and western companies have issues even perfecting one let alone all of them at once. Furthermore, their production numbers are nonsensical given the $2.5B cost of the project. Is this another case where government initiatives, subsidies, and unrealistic targets end up in lighting money on fire?

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From: ynotgoal10/4/2021 8:28:43 AM
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Today, General Motors (NYSE: GM) and Wolfspeed, Inc. (NYSE: WOLF) announced a strategic supplier agreement to develop and provide silicon carbide power device solutions for GM’s future electric vehicle programs. Wolfspeed’s silicon carbide devices will enable GM to install more efficient EV propulsion systems that will extend the range of its rapidly expanding EV portfolio.

The silicon carbide will specifically be used in the integrated power electronics contained within GM’s Ultium Drive units in its next-generation EVs.

As a part of the agreement, GM will participate in the Wolfspeed Assurance of Supply Program™ (WS AoSP), which is intended to secure domestic, sustainable and scalable materials for EV production.

“Our agreement with Wolfspeed represents another step forward in our transition to an all-electric future,” said Shilpan Amin, GM vice president, Global Purchasing and Supply Chain. “Customers of EVs are looking for greater range, and we see silicon carbide as an essential material in the design of our power electronics to meet customer demand. Working with Wolfspeed will help ensure we can deliver on our vision of an all-electric future.”

“Our agreement with GM further demonstrates the automotive industry’s commitment to delivering innovative EV solutions to the market and using the latest advances in power management to improve overall vehicle performance,” said Gregg Lowe, CEO of Wolfspeed. “This agreement ensures long-term supply of silicon carbide to GM to help them deliver on their promise of an all-electric future.”

The silicon carbide power device solutions will be produced at Wolfspeed’s 200mm-capable Mohawk Valley Fab in Marcy, New York, which is the world’s largest silicon carbide fabrication facility. Launching in early 2022, this state-of-the-art facility will dramatically expand capacity for the company’s silicon carbide technologies, which are in increasing demand for EV production and other advanced technology sectors around the world.

The widespread adoption of silicon carbide as an industry standard semiconductor for transportation supports the automotive industry’s rapid transition to clean energy vehicles. Silicon carbide enables greater system efficiencies that result in longer EV range while lowering weight and conserving space. Wolfspeed’s technology is fueling electric propulsion systems across the entire voltage spectrum – from 400V to 800V – and beyond.

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To: ynotgoal who wrote (10457)10/4/2021 9:03:23 AM
From: slacker711
1 Recommendation   of 10510
Great win.

I wonder if Ultium was the design-in awarded last quarter or if this is entirely new.

If it is new, $2.9 billion in FY'21 plus Ultium is huge. GM has an investor day this week where they will probably give some updated EV shipment targets.

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To: slacker711 who wrote (10454)10/4/2021 9:12:56 AM
From: robert b furman
   of 10510
Cohu has thermal burn in products.

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


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