Wolfspeed Names Ex-Analog Devices VP After 7.8% Stock Rally
Wolfspeed shares rose 7.78% to $19.12, then dipped 0.37% to $19.05 in after-hours, marking a 184.5% one-year gain and $862 million market cap. The company named Stefan Steyerl, who managed over $750 million in revenue at Analog Devices, as EMEA vice president effective March 1 to drive AI, renewable energy and EV sales.
1. Stock Performance
Wolfspeed shares rose 7.78% to $19.12 in regular trading and dipped 0.37% to $19.05 after hours, reflecting a 184.5% increase over the past 12 months, a 55.9 RSI and a market cap of $862.1 million.
2. EMEA Leadership Appointment
Stefan Steyerl, formerly vice president of sales at Analog Devices overseeing more than $750 million in global revenue, will become Wolfspeed’s vice president of EMEA sales on March 1, tasked with expanding AI data center, renewable energy, industrial power systems and electric vehicle customer relationships.
3. Analyst Ratings and Outlook
Piper Sandler maintained an Overweight rating on the stock and raised its price target from $6 to $20. Technical indicators signal medium- and long-term consolidation after a 184.5% 12-month gain and a 38.8% rise from the 52-week low.