Wolfspeed Inc. (NYSE:WOLF) shares are trending on Tuesday night.
Shares of the North Carolina-based semiconductor company fell 0.37% in after-hours trading to $19.05 on Tuesday.
According to Benzinga Pro data, the stock closed regular trading up 7.78% at $19.12.
Leadership Hire Targets EMEA Growth
On Tuesday, Wolfspeed announced the appointment of Stefan Steyerl as vice president of sales for the Europe, Middle East and Africa region, effective March 1.
According to the company, Steyerl brings more than 25 years of experience in the semiconductor industry. Most recently, he served as VP of sales for the EMEA region at Manchester-based Allegro MicroSystems (NASDAQ:ALGM).
Earlier, he held senior leadership roles at multinational semiconductor company Analog Devices (NASDAQ:ADI), where he oversaw global revenue exceeding $750 million.
Broadening Customer Base Across Key End Markets
The company said Steyerl’s appointment will help broaden its customer base across AI data centers, renewable energy, industrial power systems and electric vehicles.
Matthias Buchner, senior vice president of Global Sales and Chief Marketing Officer at Wolfspeed, said “Stefan’s deep industry expertise and leadership experience will be instrumental as Wolfspeed accelerates the global transition to silicon carbide.”
Trading Metrics, Technical Analysis
Wolfspeed has a market capitalization of $862.10 million, with a 52-week high of $36.60 and a 52-week low of $8.05.
The stock of the technology company has a Relative Strength Index (RSI) of 55.94.
The stock has delivered a staggering 184.52% gain over the past 12 months.
Currently, WOLF is positioned about 38.8% up from its 52-week low.
In early February, Piper Sandler (NYSE:PIPR) reiterated an Overweight rating on WOLF, raising its price target from $6 to $20.
Benzinga’s Edge Stock Rankings indicate that WOLF is experiencing Benzinga’s Edge Stock Rankings indicate that WOLF is experiencing long-term upward movement, along with medium- and long-term consolidation., along with medium- and short-term consolidation.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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