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Search resuls for: "Wolfspeed"


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☆ EU's von der Leyen hails Infineon factory as chip production milestone for Europe
  + stars: | 2023-05-02 | by ( ) www.reuters.com   time to read: +2 min
DRESDEN, Germany May 2 (Reuters) - European Commission President Ursula von der Leyen on Tuesday hailed the construction of a new factory by Germany's Infineon (IFXGn.DE) a milestone in mass chip production as Europe tries to capture a larger slice of the strategic industry. Speaking at the groundbreaking ceremony of Infineon's factory in the German city of Dresden, von der Leyen said it was a step in Europe's goal of doubling its share of global chip production to 20% by 2030 by quadrupling its current capacity. But she warned that Europe was still too dependent for raw materials on individual suppliers, citing in particular that China has a 76% share of producing the silicon metals needed in chip production. This is why it is vital that we in Europe strengthen the supply chains of our most important goods and technologies," von der Leyen said in a speech. Infineon expects production at the 5-billion-euro semiconductor plant, the largest investment in the company's history, to start in 2026.
☆ Goldman Sachs and Morgan Stanley say these chip stocks have more upside — giving one nearly 50%
  + stars: | 2023-04-28 | by ( Weizhen Tan | ) www.cnbc.com   time to read: +3 min
CNBC Pro trawled through Wall Street research to look for semiconductor stocks that Goldman Sachs and Morgan Stanley expect will grow in value. Morgan Stanley In an April 24 note, Morgan Stanley said it expects a "headwind for most broad based companies" toward the second half of the year. Wolfspeed : Morgan Stanley said execution "will be key" as the company creates new manufacturing capacity. ON Semiconductor : Morgan Stanley said the company could have an earnings stream that is "likely more recession proof than the higher end analog names." Goldman Sachs Goldman named two buy-rated semiconductor stocks in an April 23 report: KLA Corporation and Impinj .
☆ Here are Thursday's biggest analyst calls: Apple, Meta, Amazon, Ford, Activision Blizzard & more
  + stars: | 2023-04-27 | by ( Michael Bloom | ) www.cnbc.com   time to read: +5 min
Here are Thursday's biggest calls on Wall Street: Bernstein reiterates Apple as market perform Bernstein said it remains "torn" on Apple heading into earnings next week. Morgan Stanley reiterates Meta as overweight Morgan Stanley raised its price target on the AI beneficiary to $300 per share from $250 after the company's earnings report Wednesday. " Morgan Stanley reiterates Ford as overweight Morgan Stanley said it's standing by its overweight rating heading into earnings next week. Citi reiterates Amazon as buy Citi said it's bullish on the e-commerce giant heading into earnings on Thursday after the bell. Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said the stock is one of the firm's top picks heading into earnings in May.
☆ Bosch buys US semiconductor foundry to expand EV chip output
  + stars: | 2023-04-26 | by ( Joseph White Stephen Nellis | Joseph White | Stephen Nellis | ) www.reuters.com   time to read: +2 min
Bosch said it plans to invest $1.5 billion to retool TSI's chip production facilities in Roseville, California to start producing silicon carbide chips by 2026. Bosch said the TSI facility would become the "third pillar" of in-house semiconductor production, along with two sites in Germany. The silicon carbide chips Bosch said it will manufacture at the TSI Roseville site are increasingly in demand by electric vehicle manufacturers. U.S-based Wolfspeed Inc (WOLF.N) is building new plants to make silicon carbide chips in New York State and in Germany. Bosch plans to acquire the buildings, machines and infrastructure of TSI as well as well as its commercial semiconductor business.
☆ Stocks making the biggest moves premarket: Charles Schwab, Dell, Alphabet, HP Inc. & more
  + stars: | 2023-04-17 | by ( Pia Singh | ) www.cnbc.com   time to read: +3 min
Charles Schwab — Shares of Charles Schwab gained 3% on better-than-expected earnings. The company posted a profit of 93 cents per share, beating a Refinitiv forecast of 90 cents per share. M&T Bank — The regional bank stock jumped 3% after the company posted its latest quarterly figures. Lumentum — The optical fiber manufacturer rose slightly after JPMorgan upgraded the stock to overweight from neutral. Ollie's Bargain Outlet — The discount retail rose 3% in premarket trading after JPMorgan upgraded the stock to neutral from overweight.
☆ Tesla's plan to slash silicon carbide use sends some chipmakers' shares down
  + stars: | 2023-03-02 | by ( Lora Kolodny | ) www.cnbc.com   time to read: +4 min
Shares in some chipmakers dipped on Thursday after electric vehicle maker Tesla said it plans to greatly reduce the use of silicon carbide transistors in its next-generation vehicle powertrains. Campbell revealed that, "In our next powertrain, the silicon carbide transistors that I mentioned, that are key component[s] but expensive, we figured out a way to use 75% less without compromising the performance or the efficiency of the car." Chips made with silicon carbide transistors are widely used in electric vehicles. They added the possibility that "cheaper [silicon carbide chips] could drive up EV adoption globally so what vendors lose on content could be partially offset by greater EV volumes." New Street does not expect a lower-priced, next generation Tesla vehicle to "ramp in volumes before 2025 or 2026."
☆ Factbox: Chipmakers' plans for factories in Europe
  + stars: | 2023-02-16 | by ( ) www.reuters.com   time to read: +2 min
Under the European Chips Act, the European Commission earmarked early last year a total of 15 billion euros ($16 billion) for public and private semiconductor projects by 2030. Below are some of the chipmakers' plans for factories in Europe, in alphabetical order:Infineon (IFXGn.DE):The maker of chips used in cars and data won approval to begin work on a 5 billion euro semiconductor plant in the German city of Dresden, it said on Feb. 16. Intel (INTC.O):In March 2022, Intel picked the German city of Magdeburg as the site for its new mega chip manufacturing complex, a key part of its $88 billion investment drive across Europe. STMicroelectronics (STM.BN):The Franco-Italian company said in October it plans to build a 730 million euro silicon carbide wafer plant in Italy. It also announced plans in July to build a semiconductor factory in France in partnership with GlobalFoundries (GFS.O).
☆ Wolfspeed to build $3-bln EV chip plant in Germany, subsidy approval expected in months
  + stars: | 2023-02-01 | by ( Andreas Rinke Victoria Waldersee Ilona Wissenbach | Andreas Rinke | Victoria Waldersee | ) www.reuters.com   time to read: +3 min
BERLIN/FRANKFURT, Feb 1 (Reuters) - U.S. chipmaker Wolfspeed (WOLF.N) will build a $3-billion chip plant and a research and development centre in Germany, it said on Wednesday, expecting to start construction within months provided it receives subsidy approval from the European Union. Automotive supplier ZF (ZFF.UL) will invest $185 million for a stake in the chip fab and will take a majority stake in the research centre, the companies said. Wolfspeed expects to receive 20% of the investment amount in subsidies, Chief Executive Gregg Lowe told German newspaper Handelsblatt. Volkswagen, Europe's top carmaker, earlier this month warned that the chip squeeze meant 2023 would remain volatile and challenging, but expected supplies to improve. The company announced in September a new plant in the United States due for completion in 2030.
☆ Wolfspeed to build $3-bln EV chip plant in Germany
  + stars: | 2023-02-01 | by ( ) www.reuters.com   time to read: +3 min
BERLIN/FRANKFURT, Feb 1 (Reuters) - U.S. chipmaker Wolfspeed (WOLF.N) will build a $3-billion chip plant in Germany, with automotive supplier ZF (ZFF.UL) investing $185 million for an equity stake, company officials said on Wednesday, confirming an earlier Reuters report. ZF's share of the factory's chip output will be defined by a separate contractual agreement, the companies said. "This is an important sign that Germany continues to be attractive even in difficult circumstances for high-tech investments," he said. "Amid the concerns that the U.S. wants to divert investments from Europe with its Inflation Reduction Act, we're showing that a U.S. firm wants to invest in Germany," a German government source said. The company announced in September a new plant in the United States due for completion in 2030.
☆ EU sets out green industry deal to take on U.S. and China
  + stars: | 2023-02-01 | by ( Philip Blenkinsop | Industry Insight | Reuters Professional | ) www.reuters.com   time to read: +5 min
"Major economies are rightly stepping up investment in net zero industries," von der Leyen told a news conference. And we want to be an important part of this net-zero industry that we need globally," von der Leyen said. RESISTANCEThe European Commission is hoping member states will back its plan at a Feb.9-10 summit but it faces a hot debate. Solar sector industry group SolarPower Europe said it was concerned by what it called a "lack of focus" on specific technologies in the EU plan. The bloc is heavily reliant on China for rare earths and lithium, which are vital materials for the green transition.
☆ Wolfspeed to announce EV chip plant in Germany, sources say
  + stars: | 2023-02-01 | by ( ) www.reuters.com   time to read: +3 min
BERLIN/FRANKFURT, Feb 1 (Reuters) - German chip supplier ZF Friedrichshafen (ZFF.UL) and U.S. chipmaker Wolfspeed (WOLF.N) will announce plans on Wednesday to build an electric vehicle chip plant in the Saarland region, according to three sources close to the matter. "This is an important sign that Germany continues to be attractive even in difficult circumstances for high-tech investments," he said. "Amid the concerns that the U.S. wants to divert investments from Europe with its Inflation Reduction Act, we're showing that a U.S. firm wants to invest in Germany," a German government source said. Volkswagen, Europe's top carmaker, earlier this month warned that the chip squeeze meant 2023 would remain volatile and challenging, but expected supplies to improve. Wolfspeed specialises in silicon carbide chips, which have been gaining traction with electric car makers as they can handle high voltages and are more power efficient.
☆ EU lays out green industry plan to counter U.S., China subsidies
  + stars: | 2023-02-01 | by ( Philip Blenkinsop | Industry Insight | Reuters Professional | ) www.reuters.com   time to read: +4 min
The plan is partly a response to multi-billion-dollar support programmes of China and the United States, including the latter's Inflation Reduction Act. Many EU leaders are concerned that the local content requirements of its $369 billion of green subsidies will encourage companies to relocate, making the United States a leader in green tech at Europe's expense. RESISTANCEThe European Commission is hoping member states will back its plan at a Feb.9-10 summit but huge chunks are likely to be hotly debated among member states. There is also clear opposition from some EU members to previous suggestions that the plan could entail further joint borrowing. The bloc is heavily reliant on China for rare earths and lithium, which are vital materials for the green transition.
☆ Wolfspeed to announce new electric vehicle chip plant in Germany - sources
  + stars: | 2023-02-01 | by ( ) www.reuters.com   time to read: +1 min
BERLIN/FRANKFURT, Feb 1 (Reuters) - German chip supplier ZF and American chipmaker Wolfspeed Inc (WOLF.N) are expected to announce on Wednesday plans to build an electric vehicle (EV) chip plant in the Saarland region, according to three sources close to the matter. The chancellery said the event was related to an industrial policy project in the field of microelectronics but did not provide further details. The project will cost over 2 billion euros ($2.18 billion) and ZF will hold a minority stake, with production to begin in four years, according to German business paper Handelsblatt which previously reported on the plans, citing unidentified sources. A spokesperson for ZF declined to comment, and Wolfspeed was not immediately available for comment. ($1 = 0.9195 euros)Reporting by Andreas Rinke, Victoria Waldersee and Ilona WissenbachOur Standards: The Thomson Reuters Trust Principles.
☆ Wolfspeed plans multi-billion dollar chip factory in Germany, Handelsblatt reports
  + stars: | 2023-01-21 | by ( ) www.reuters.com   time to read: +1 min
FRANKFURT, Jan 21 (Reuters) - U.S. power chip maker Wolfspeed Inc (WOLF.N) is planning to build a factory in Germany for more than 2 billion euros ($2.17 billion), Handelsblatt reported on Saturday. The German auto supplier ZF will hold a minority stake, the the business newspaper said, citing unidentified sources familiar with the project. Production should begin in four years at the site in the small southwest German state of Saarland, the report added. A spokesperson for the economics ministry of Saarland declined to comment. ZF declined to comment.
☆ Wolfspeed plans multi-billion dollar chip factory in Germany - Handelsblatt
  + stars: | 2023-01-21 | by ( ) www.reuters.com   time to read: +1 min
FRANKFURT, Jan 21 (Reuters) - U.S. power chip maker Wolfspeed Inc (WOLF.N) is planning to build a factory in Germany for more than 2 billion euros ($2.17 billion), Handelsblatt reported on Saturday. The German auto supplier ZF will hold a minority stake, the the business newspaper said, citing unidentified sources familiar with the project. Production should begin in four years at the site in the small southwest German state of Saarland, the report added. A spokesperson for the economics ministry of Saarland declined to comment. ZF declined to comment.
☆ Bank of America says 2 global chip stocks could rise by 75% on EV car sales
  + stars: | 2022-12-08 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +2 min
The shortage of semiconductors during a boom in electric vehicle sales could help raise profits at a handful of chip makers, according to Bank of America. The investment bank said shares of U.S.-listed European chip maker STMicroelectronics and Japan's Renesas Electronics could rise by more than 75% over the next year on that trend. Although global automotive sales are expected to rise by just 3-4% over the next two years, the transition to EV cars means chip sales are set to grow by 7-9% year after year for the next two years, the Wall Street bank said. The company said auto revenues grew 44% in 2021 due to chip sales for in-car connectivity devices. Other chip stocks set to benefit from the trend to EV vehicles include U.S.-based companies Marvell , Microchip , Nvidia and Ambarella , Wolfspeed , and Onsemi , as well as European semiconductor manufacturers NXP and Soitec .
☆ These midcap stocks are loved by analysts, including one name expected to double
  + stars: | 2022-11-06 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
Investors scrambling to find a home for their money amid this year's market turmoil may want to look at midcap stocks. The S & P Midcap 400 is down 15% year to date, outperforming the large cap S & P 500's 20% drop in that time. Midcap stocks are also outpacing the large- and small-cap names for the quarter. The S & P Midcap 400 index has jumped more than 9% in the fourth quarter, while the S & P 500 and Russell 2000 are up 8% and 5%, respectively. Midcap stocks are typically those with a market cap ranging between $2 billion and $10 billion.
☆ Chip manufacturer Wolfspeed announces plans for a new factory
  + stars: | 2022-10-31 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChip manufacturer Wolfspeed announces plans for a new factoryCNBC's Kristina Partsinevelos joins 'Power Lunch' to discuss the chip manufacturer Wolfspeed after earnings miss expectations, as well as the company's plans to build a new factory with the help of third-party financing.
☆ These five stocks are best positioned for long-term growth, Goldman analysts say
  + stars: | 2022-10-29 | by ( Michael Bloom | ) www.cnbc.com   time to read: +6 min
Goldman Sachs said this week that there are a bunch of stocks that are poised for long-term growth. "PEP remains very well positioned given its strong brand portfolio and long-term growth opportunities in Beverages," she wrote. Tesla "Mixed 3Q report; Company remains well positioned for long-term growth in part from potential cost and EPS drivers. BlackRock "Macro hurdles persist, but long-term growth outlook remains. … PEP remains very well positioned given its strong brand portfolio and long-term growth opportunities in Beverages."
☆ Stocks making the biggest moves midday: Meta Platforms, ServiceNow, Teladoc, Credit Suisse & more
  + stars: | 2022-10-27 | by ( Samantha Subin | ) www.cnbc.com   time to read: +5 min
McDonald's — The fast-food giant's shares got a 2.8% lift after the company beat earnings expectations for its most recent quarter. Align Technology — The Invisalign maker saw its shares tumble 18% after it posted disappointing earnings for the most recent quarter. Credit Suisse — Shares of the Swiss bank plummeted 19.5% after Credit Suisse posted a greater-than-expected loss for the third quarter. ServiceNow — The stock jumped 13% after ServiceNow surpassed earnings expectations in its most recent quarter. Comcast — The media giant's stock rose 4.8% after topping analysts' earnings expectations for the third quarter.
☆ This semiconductor stock can rally more than 50% as it ramps up capacity, JPMorgan says in upgrade
  + stars: | 2022-10-24 | by ( Sarah Min | ) www.cnbc.com   time to read: +2 min
It's time to buy shares of Wolfspeed , according to JPMorgan. Analyst Samik Chatterjee upgraded shares of Wolfspeed to overweight from neutral heading into a key investor day on Oct. 31 that will likely prove the "capacity ramp key to delivering on the bull thesis on the shares." Shares of Wolfspeed outperformed this year, down only 5.4%, as investors expect greater adoption of its silicon carbide semiconductors as demand for electric vehicles grow. Electric vehicle production is supposed to ramp up at a more than 20% compounded annual growth rate, according to the note. Meanwhile, Wolfspeed's investor day could show whether the company can meet that demand through its Mohawk Valley facility.
☆ Here are Monday's biggest analyst calls: Apple, Meta, Chevron, AT&T, Disney, Coinbase & more
  + stars: | 2022-10-24 | by ( Michael Bloom | ) www.cnbc.com   time to read: +7 min
Here are Monday's biggest calls on Wall Street: Jefferies downgrades Williams-Sonoma to underperform from hold Jefferies said it's concerned about a softer macro environment. Wells Fargo reiterates Disney as overweight Wells said it continues to like the stock heading into earnings in early November. " Bank of America downgrades Meta to neutral from buy Bank of America said it's concerned about an ad spending slump heading into earnings later this week. Mizuho reiterates Coinbase as neutral Mizuho said it's staying neutral on Coinbase as losses continue to "linger" on the company's platform. Bank of America reiterates Apple as neutral Bank of America said it sees a balanced risk-reward heading into Apple earnings later this week.
☆ Cramer's lightning round: Wolfspeed is not a buy
  + stars: | 2022-09-28 | by ( Krystal Hur | ) www.cnbc.com   time to read: 1 min
Loading chart...Rada Electronic Industries Ltd: "Way too expensive ... I'm sorry, I can't endorse it." Loading chart...Annaly Capital Management Inc: "I'm not going to recommend that stock." Loading chart...Enovix Corp: "I have to say [sell] because It costs too much money." Loading chart...Wolfspeed Inc: "I'm going to tell you not to buy.
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