Activist investor Jana Partners has pushed Wolfspeed, a silicon carbide manufacturer, to consider strategic alternatives, including a potential sale, in order to enhance shareholder value. This move follows a significant decline in Wolfspeed’s stock performance over the past year. Jana has emphasized the need for the company to explore all avenues to improve its performance and conduct a comprehensive review of alternatives.
Jana Partners, a significant shareholder in Wolfspeed, has sent a letter urging the company to evaluate strategic alternatives to improve shareholder value. This could include a potential sale, as Wolfspeed’s stock price has declined significantly in recent months. Jana believes that a comprehensive review is necessary to address the company’s challenges, including missed financial milestones and concerns about capital allocation. The letter also calls for a focus on operational execution and realistic targets to enhance returns on investment.
