BlackRock Cuts Wolfspeed Holdings by 56.79%, Reduces Stake to 5.30%

BlackRock has reduced its holdings in Wolfspeed Inc. by 10.8 million shares, a 56.79% decrease, and now holds 8.2 million shares, or 5.30% of its portfolio. The transaction was executed at $0.3988 per share. Wolfspeed specializes in wide bandgap semiconductors and has a market capitalization of $392.188 million. Despite a 531.9% gain since the transaction, the stock has a year-to-date price change of -61.99% and a 3-year revenue growth rate of 11.10%.

Title: Wolfspeed Inc. Appoints New CFO Amid Restructuring Efforts

Wolfspeed Inc., a leading provider of wide bandgap semiconductors, has appointed Gregor van Issum as its new Chief Financial Officer (CFO), effective September 1, 2025 [1]. This appointment follows the company's recent restructuring efforts and the arrival of Dr. David Emerson as Chief Operating Officer. Van Issum brings over two decades of experience in transformational restructuring and strategic financing roles across the technology sector. Prior to joining Wolfspeed, he served as Executive Vice President and Group Controller at ams-OSRAM and as Vice President of Strategy for NXP Semiconductors’ Secure Transactions and Identification Solutions division.

Wolfspeed has been navigating through challenging times, having filed for Chapter 11 bankruptcy protection on June 30, 2025, citing mounting debt and softening demand from the electric vehicle and industrial markets [1]. The company expects to emerge from Chapter 11 by the third quarter of 2025, with plans to reduce its total debt by approximately 70% and lower its annual cash interest payments by about 60% [1]. Despite the restructuring, Wolfspeed aims to maintain its operational capabilities and continue delivering silicon carbide materials and devices to its customers.

The appointment of Van Issum is seen as a strategic move to strengthen Wolfspeed's financial position and support its growth opportunities. The company's purpose-built, fully automated 200mm manufacturing platform is expected to play a crucial role in its recovery and expansion. However, Wolfspeed faces intense competition in the SiC market from Chinese rivals such as TankeBlue and SICC, which held a 17% share each in 2024 [1]. To remain competitive, Wolfspeed must overhaul its operations and aggressively cut production costs.

BlackRock recently reduced its holdings in Wolfspeed Inc. by 10.8 million shares, a 56.79% decrease, leaving it with 8.2 million shares, or 5.30% of its portfolio. The transaction was executed at $0.3988 per share [2]. Despite a significant 531.9% gain since the transaction, the stock has experienced a year-to-date price change of -61.99% and a 3-year revenue growth rate of 11.10% [2].

References

[1] https://www.trendforce.com/news/2025/07/08/news-wolfspeed-appoints-former-ams%E2%80%91osram-nxp-executive-as-cfo-amid-restructuring-efforts/
[2] https://fintel.io/s/us/wolf