Overview

* Wolfspeed ( WOLF ) fiscal Q4 rev of $197 mln beats analyst expectations, per LSEG data

* Adjusted EPS for fiscal Q4 meets analyst expectations

* Co is undergoing restructuring to emerge from Chapter 11 with stronger finances

Result Drivers

* MOHAWK VALLEY FAB - Contributed $94.1 mln in revenue, up from $41 mln in the same qtr last yr

* UNDERUTILIZATION COSTS - GAAP and non-GAAP gross margins include impacts of $23.6 mln in underutilization costs due to start of production at Mohawk Valley Fab

Key Details

Metric Beat/Mis Current Consensu

s s

Estimate

Q4 Beat $197 $191.80

Revenue million mln (6

Analysts

)

Q4 Meet -$0.77 -$0.77

Adjusted (6

EPS Analysts

)

Q4 Net -$669.30

Income million

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and 3 "sell" or "strong sell"

* The average consensus recommendation for the semiconductors peer group is "buy."

* Wall Street's median 12-month price target for Wolfspeed Inc ( WOLF ) is $4.00, about 65.8% above its August 22 closing price of $1.37

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)