Wolfspeed Sinks 12% on Wider-Than-Expected Loss, ON Semiconductor Slips as Chip Sector Holds Steady

Wolfspeed shares sank about 12% to $25.74 in Thursday morning trading after the silicon-carbide chipmaker reported a fiscal Q4 2026 adjusted loss far worse than analysts expected. The company posted an adjusted loss of $2.26 per share for the quarter ended June 28, with revenue of $149.6 million; adjusted non-GAAP gross margin stayed negative at 20%. Power Products revenue was $106.3 million and Materials Products $43.3 million, while AI data center revenue rose 20% quarter over quarter. For fiscal Q1 2027, Wolfspeed guided revenue to $140 million–$160 million and non-GAAP operating expenses of $62 million–$66 million.