Who Owns Wolfspeed Company?

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Who Owns Wolfspeed?

Understanding Wolfspeed's ownership is key to grasping its strategic path in the semiconductor sector. Recent leadership changes, including the November 2024 departure of Gregg Lowe as CEO and the appointment of Thomas Werner as Executive Chairman, highlight significant shifts.

Founded as Cree Research Inc. in 1987, Wolfspeed is a leader in silicon carbide technology, with applications in EVs and 5G. Its ownership journey reflects its growth from early backers to current institutional investors.

Who owns Wolfspeed?

Wolfspeed, originally established as Cree Research Inc. in July 1987, was brought to life by a group of individuals with strong ties to North Carolina State University (NCSU). This founding team was primarily composed of graduates and researchers from the university's Materials Science and Engineering program.

Founding Team

The company was founded by six individuals: John Edmond, Neal Hunter, Thomas Coleman, Calvin Carter, Eric Hunter, and John Palmour. A significant portion of these founders, specifically five out of the six, were alumni of NCSU's Materials Science and Engineering program.

Technological Roots

Their foundational work stemmed from research conducted in Professor Robert Davis's lab at NCSU. Professor Davis was actively researching silicon carbide for microwave applications, supported by funding from the Office of Naval Research.

Vision for Silicon Carbide

The founders envisioned silicon carbide not just as an abrasive material, but as a semiconductor capable of high operating temperatures and power levels. This was a pioneering concept at the time, differentiating from its traditional uses.

Early Commercial Focus

Initial commercial efforts concentrated on LED lighting solutions. This focus was particularly relevant given the limited availability of blue LEDs in the market during the company's early stages.

Founders' Investment

While specific initial equity distributions are not publicly detailed, the founders demonstrated significant personal commitment. Reports indicate that Neal and Eric Hunter utilized personal credit cards and even took out a second mortgage to fund the hiring of John Edmond as the company's first employee.

Public Offering

The company transitioned to a public entity in 1993 through an initial public offering (IPO). This marked a significant step in its growth and accessibility to broader investment.

Dr. John Palmour, one of the co-founders, remained a pivotal figure in the company's technological development, holding the position of Chief Technology Officer until his passing in November 2022. His continued involvement underscores the deep technical expertise that characterized the company's inception and early trajectory, influencing its Target Market of Wolfspeed.

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Wolfspeed, formerly Cree, Inc., has undergone a significant transformation since its 1993 IPO, culminating in its rebranding in October 2021. This evolution, particularly the strategic divestment of its LED business in March 2021, has reshaped its investor profile, attracting entities focused on advanced semiconductor technologies.

The ownership landscape of Wolfspeed Inc. is heavily dominated by institutional investors, reflecting strong confidence in its strategic direction as a pure-play silicon carbide provider. As of March 31, 2025, these entities collectively hold approximately 89.83% of the company's shares. Insiders account for about 3.25%, while retail investors make up the remaining 6.92%. Another report from March 2025 indicates institutional investors hold an even larger share at 90.93%, with insider ownership at 0.90%. This concentration of institutional ownership suggests a focus on the company's role in high-growth sectors like electric vehicles, 5G infrastructure, and renewable energy, where silicon carbide technology is paramount.

Key Institutional Stakeholders in Wolfspeed

Major institutional investors are the primary drivers of Wolfspeed's stock ownership. Their substantial holdings underscore a strategic alignment with the company's focus on silicon carbide technology.

• BlackRock Inc. is the largest individual shareholder, holding 12.23% of the company's shares as of March 31, 2025.
• Vanguard Group Inc. follows with 12.15% ownership.
• UBS Group AG holds 9.34% of the outstanding shares.
• State Street Corp possesses 4.80% of Wolfspeed's stock.
• Primecap Management Co. accounts for 4.28% of the company's ownership.

The geographical distribution of Wolfspeed's shareholders indicates a strong domestic investor base, with 86.2% of shareholders originating from the United States. The United Kingdom represents the next largest group, at 4.7%. This concentration of U.S.-based investors aligns with the company's operational focus and the significant domestic growth in the sectors it serves. Understanding who owns Wolfspeed provides insight into the market's perception of its future growth and its Mission, Vision & Core Values of Wolfspeed.

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The governance of Wolfspeed Inc. is overseen by its Board of Directors, comprising ten elected members as of December 5, 2024. This board is instrumental in shaping the company's strategic direction and ensuring robust corporate oversight. The current structure reflects a commitment to experienced leadership, with recent changes to executive roles impacting board composition.

Thomas Werner assumed the role of Executive Chairman in November 2024, guiding the company's strategy during the search for a new President and Chief Executive Officer. Stacy Smith was appointed Lead Independent Director following these changes. The company's voting power typically operates on a one-share-one-vote principle, meaning shareholder influence is directly tied to the number of shares held. Proposals, including director elections, are approved by a majority of votes cast. Insider ownership, representing a small fraction of total shares, shows a recent trend of insider purchases, with approximately $1.6 million invested by insiders over the past two years, indicating a degree of confidence in the company's trajectory. Understanding these dynamics is key to grasping Wolfspeed ownership and who owns Wolfspeed.

Understanding Wolfspeed's Shareholder Structure

Wolfspeed Inc. operates with a standard corporate governance model where shareholders elect the Board of Directors. The voting power is generally distributed based on share ownership, with a one-share-one-vote system in place.

• The Board of Directors is elected by shareholders.
• Voting power is typically proportional to the number of shares owned.
• Insider transactions, while a small percentage of overall ownership, can signal confidence.
• The company's structure supports shareholder influence through voting rights.
• For a deeper dive into how the company operates, consider the Marketing Strategy of Wolfspeed.

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Recent developments at Wolfspeed Inc. have significantly reshaped its operational and financial landscape, impacting its ownership trends. The company has navigated a period of substantial leadership changes and strategic financial realignments, all while focusing on its core technology advancements.

Wolfspeed's financial performance in fiscal year 2024 showed consolidated revenue of approximately $807 million, alongside a GAAP net loss of $864 million. The company is strategically prioritizing its 200mm silicon carbide (SiC) production capabilities, with its Mohawk Valley facility leading this expansion as the first fully operational 200mm SiC fab. This move is intended to boost efficiency and reduce costs. In line with this, Wolfspeed plans to close its Durham 150mm device fab during calendar year 2025, transferring production to Mohawk Valley. Capital expenditures are also being targeted for reduction in fiscal year 2025 to balance immediate profitability with long-term growth objectives. The company is actively pursuing government funding, including negotiations for $750 million in CHIPS Act grants and anticipating over $1 billion in Section 48D tax credits from the IRS, with $640 million already reflected on its balance sheet as of August 2024. These financial maneuvers are designed to fortify the company's capital structure and capitalize on the increasing demand for SiC technology.

Leadership Transition

Wolfspeed experienced significant leadership changes in late 2024 and mid-2025. Gregg Lowe departed as CEO in November 2024, with Thomas Werner stepping in as Executive Chairman. Robert Feurle was appointed CEO in May 2025, marking a new chapter for the company's executive leadership.

Financial Restructuring and Growth Focus

The company filed for Chapter 11 bankruptcy protection on June 30, 2025, as part of a strategic effort to strengthen its capital structure. This move was accompanied by a substantial increase in its stock price, highlighting investor confidence in its restructuring plan and future prospects.

Operational Strategy

Wolfspeed is concentrating on expanding its 200mm silicon carbide production. The closure of its Durham 150mm fab and the transition to the Mohawk Valley facility are key steps in this operational strategy, aiming for enhanced efficiency and cost savings.

Government Support and Tax Credits

The company is actively seeking government financial support, including CHIPS Act grants and IRS tax credits. These initiatives are crucial for funding its expansion and reinforcing its financial stability, as detailed in its Brief History of Wolfspeed.

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