Cree officially changed its name to Wolfspeed and will be listed on the NYSE

On October 8, Cree announced that it officially changed its name to Wolfspeed, aiming to become a global leader in silicon carbide technology and manufacturing. It will be listed on the NYSE under the new listing code "WOLF".

It is reported that Cree was founded in 1987 and its main products include LED chips and packaging devices. In 2016, its lighting business showed negative growth and continued to decline in the next two years. In 2019, Cree announced the sale of its LED lighting division (Cree Lighting) to Ideal Industries for US$310 million. In 2020, it will sell its LED product division (Cree LED) was sold to SMART for US$300 million and fully invested in the semiconductor industry.

Cree said that in the past six years, Wolfspeed has been the brand of the company's SiC materials and semiconductor device business unit, and is advancing the important transformation of multiple industries from Si to SiC.

According to the data, the Wolfspeed product family includes SiC materials, power switching devices, and radio frequency devices for various applications such as electric vehicles, fast charging, 5G, renewable energy and energy storage, as well as aerospace and defense.

Gregg Lowe, CEO of Wolfspeed, said that October 8 is an important transformation milestone for Wolfspeed, officially marking that Cree has now become a pure and powerful global semiconductor company. The next generation of power semiconductors will be driven by SiC technology.