-
LATEST NEWS1 Min Read
Wolfspeed, Inc. announced that it has completed the offering of shares of its common stock under its previously announced “at the market” offering program pursuant to a shelf registration statement filed with the U.S. Securities and Exchange Commission and a prospectus supplement, dated December 9, 2024.
Through the program, the Company sold 27,793,535 shares of its common stock for gross proceeds of approximately $200 million. Wolfspeed intends to use the net proceeds from the ATM Program to improve its capital structure, reduce leverage, and address outstanding maturities on its balance sheet.
Tom Werner, Executive Chairman of Wolfspeed, commented, “When I became Executive Chairman of Wolfspeed, completing our CHIPS Act funding process was a top priority of mine and today’s news marks an important milestone in that regard. With the ATM Program completed, we are now one step closer to finalizing our PMT and receiving our first funding disbursements from the CHIPS office and our other lenders. We look forward to continued collaboration with the CHIPS office to make sure the transition from silicon to silicon carbide is driven by American innovation, with American IP at the forefront.”
Original – Wolfspeed
-
Littelfuse, Inc. announced that David (“Dave”) Heinzmann, President and Chief Executive Officer, has informed the Board of Directors of his intention to retire as President and CEO. The Board has appointed Dr. Greg Henderson, a member of the Littelfuse Board of Directors, as President and Chief Executive Officer effective February 10, 2025. Mr. Heinzmann will remain on the Littelfuse Board through April 2025 and, to support a seamless transition, serve as an advisor to the Company through August 10, 2025.
Gordon Hunter, Littelfuse Chairman of the Board, commented, “On behalf of the Board of Directors, I want to thank Dave for his 40 years of distinguished leadership and substantial contributions across numerous roles. As CEO, Dave has been an exceptional leader and his passion for Littelfuse, our people, and our customers has been instrumental in guiding the Company’s growth, innovations, and industry impact.”
Regarding Greg Henderson’s appointment as President and CEO, Mr. Hunter added, “Greg brings a wealth of experience across our industry, end markets and technologies, as well as broad familiarity with Littelfuse through his service as a member of our Board of Directors. Greg has a strong track record of value creation as well as extensive technical skills and management experience, most recently leading Analog Devices’ Automotive & Energy, Communications, and Aerospace Group. Greg has been a thoughtful voice on our board, and I am confident he is well prepared to lead Littelfuse into its next chapter of growth and success.”
Mr. Heinzmann said, “It has been a privilege to lead Littelfuse for the past 8 years, and I want to thank our customers, associates, and shareholders for their ongoing support. I am proud of the team and culture we have built, and what we have accomplished executing our growth strategy over this time. I’m confident Greg will continue to build on this success, as he has the ideal skillset and experience to lead our company in our next stage of growth. I look forward to supporting him through this transition.”
“I am honored to lead this great company,” said Dr. Henderson. “Littelfuse has an extensive track record of product leadership and technology innovation, driving meaningful growth and success over its 98-year history. I am excited to help steward the next phase of the Littelfuse growth journey alongside our talented global teams. I look forward to building on the strong foundation that Dave and the leadership team have established as we enable the future needs of our diverse customer base across our broad end markets.”
With the CEO transition taking effect on February 10, 2025, the Company has made the decision to postpone the previously planned February 26, 2025, Investor Day to a later date.
About Greg Henderson
Dr. Greg Henderson, 56, has been a member of the Littelfuse Board of Directors since May 2023. From 2017 to 2024, Dr. Henderson served as the Senior Vice President of the Automotive & Energy, Communications, and Aerospace Group for Analog Devices, Inc. (NASDAQ: ADI), a semiconductor company specializing in data conversion, signal processing and power management technology.
Previously, he served as Vice President of the RF and Microwave Business for Analog Devices from 2014 to 2017, and as Vice President of the RF and Microwave Business for Hittite Microwave Corporation until its acquisition by Analog Devices in 2014. Before joining Hittite, Dr. Henderson held various positions of increasing technical and leadership responsibility at Harris Corporation, Tyco Electronics, TriQuint Semiconductor, and IBM (NYSE: IBM). Dr. Henderson holds a bachelor’s degree in electrical engineering from Texas Tech University and a Ph.D. in electrical engineering from the Georgia Institute of Technology.
Original – Littelfuse
-
FINANCIAL RESULTS / LATEST NEWS10 Min Read
Aehr Test Systems announced financial results for its second quarter of fiscal 2025 ended November 29, 2024.
Fiscal Second Quarter Financial Results:
- Net revenue was $13.5 million, compared to $21.4 million in the second quarter of fiscal 2024.
- GAAP net loss was $(1.0) million, or $(0.03) per diluted share, compared to GAAP net income of $6.1 million, or $0.20 per diluted share, in the second quarter of fiscal 2024.
- Non-GAAP net income, which excludes the impact of stock-based compensation, amortization of intangible assets, the acquisition-related fair value adjustment to inventory, and acquisition-related costs, was $0.7 million, or $0.02 per diluted share, compared to non-GAAP net income of $6.7 million, or $0.23 per diluted share, in the second quarter of fiscal 2024.
- Bookings were $9.2 million for the quarter.
- Backlog as of November 29, 2024 was $12.4 million. Effective backlog, including bookings since November 29, 2024, is $26.6 million.
- Total cash, cash equivalents and restricted cash as of November 29, 2024 was $35.2 million, compared to $40.8 million as of August 30, 2024.
Fiscal First Six Months Financial Results:
- Net revenue was $26.6 million, compared to $42.1 million in the first six months of fiscal 2024.
- GAAP net loss was $(0.4) million, or $(0.01) per diluted share, compared to GAAP net income of $10.8 million, or $0.36 per diluted share, in the first six months of fiscal 2024.
- Non-GAAP net income was $2.8 million, or $0.10 per diluted share, which excludes the impact of stock-based compensation, amortization of intangible assets, the acquisition-related fair value adjustment to inventory, and acquisition-related costs, compared to non-GAAP net income of $11.9 million, or $0.40 per diluted share, in the first six months of fiscal 2024.
- Cash used in operating activities was $3.5 million for the first six months of fiscal 2025.
Recent Business Achievements:
- Secured the first artificial intelligence (AI) processor customer for wafer level burn-in, utilizing the new high-power FOX-XPTM solution for wafer level production test and burn-in of AI processors.
- Secured the first volume production orders from an AI processor customer for package part burn-in, utilizing recently acquired Sonoma ultra-high-power systems for high-volume production test and burn-in of AI processors.
- Secured the first gallium nitride (GaN) customer for high-volume production wafer level burn-in of GaN devices using Aehr FOX-XP platform.
Gayn Erickson, President and CEO of Aehr Test Systems, commented:
“We achieved significant progress on the key objectives we outlined at the start of the fiscal year, most notably expanding our product reach into additional large and fast-growing markets. Market diversification into artificial intelligence (AI) processors, gallium nitride power semiconductors, data storage devices, silicon photonics integrated circuits, and flash memory is driving new opportunities in terms of customers and revenue. This progress includes our wafer level burn-in solutions and also the success we’re achieving with the new semiconductor package part test and burn-in product line from the acquisition of Incal Technology we closed last August. The acquisition has led to the acceleration of our market diversification with particular success and leverage expanding our total available market (TAM) in AI processors.
“Last month, we reached a significant milestone by securing our first AI processor customer for wafer level burn-in. This includes initial volume production orders for multiple high-power FOX-XP systems and our proprietary WaferPakTM Contactors, which enable full wafer contact for testing and burn-in of AI processors in wafer form before system integration. This achievement represents a technological and commercial breakthrough for Aehr, significantly expanding the market potential for our FOX-XP wafer level test and burn-in systems.
“During the quarter, we secured our first production AI processor customer for package part burn-in, receiving initial volume production orders for multiple Sonoma ultra-high-power systems. This customer is a large-scale data center hyperscaler and provides computing power and storage capacity to millions of individuals and organizations worldwide. System shipments have already commenced to their contract manufacturer doing test and burn-in for them in Asia. We see a significant potential to expand our packaged part test and burn-in business with the product line acquired from Incal, and feel we are particularly well positioned to capitalize on opportunities in the rapidly growing AI semiconductor market with the ultra-high power Sonoma product line. We estimate that the combined wafer level and package part reliability test and production burn-in market for AI processors will exceed $100 million annually in the future, and with our comprehensive product portfolio we believe we can capture a meaningful share of this market.
“Last week we announced another exciting milestone with our first gallium nitride (GaN) semiconductor production order. This achievement expands our production wafer level burn-in market for power semiconductors beyond silicon carbide used in electric vehicles, data center power conversion, and solar to now include GaN, a high-performance compound semiconductor optimized for mid-power applications such as data centers, solar energy, automotive systems, and consumer computing. Over the past 12 months, we have collaborated with this lead customer using our FOX-NP system, leading to their purchase of multiple WaferPak reference designs for diverse GaN applications. GaN offers a broader application range than silicon carbide and is poised for significant growth in the coming decade. With an expected compound annual growth rate (CAGR) exceeding 40%, the GaN market is projected to surpass $2 billion in annual device sales by 2029, according to Yole Group’s Power SiC/GaN Compound Semiconductor Market Monitor. Additionally, Frost & Sullivan estimates GaN semiconductors will account for over 10% of the worldwide power semiconductor industry by 2028. This transformative technology represents a significant growth opportunity for Aehr’s wafer level test and burn-in solutions, positioning us to capitalize on the rapid expansion of the GaN market.
“In addition, we are excited about our opportunity for production burn-in and stabilization of devices used in hard disk drives using our FOX-CP systems and WaferPak Contactors. Our lead customer for this application is ramping this year and has told us that they will purchase multiple production systems from us over the next few quarters to support their planned new product rollout and ramp. This customer, first announced back in 2019 prior to the COVID-19 pandemic, initially purchased our FOX-CP single wafer test and burn-in solution to support the qualification and early test stages of this new product aimed at the enterprise and data center markets. We view the data storage market both for hard disk drives and flashed-based semiconductor solid-state disk drives as significant growth opportunities for our systems. These markets have applications with devices made up of multiple die in complex structures, or in multiple die stacked on top of each other before they are put into higher-level packages or systems. These devices require exceptionally high levels of quality and long-term reliability of the die before they are put into these packages or systems, which aligns perfectly with the capabilities of our wafer level test and burn-in systems.
“Aehr also continues to expand its presence in the silicon carbide power semiconductor market, a critical sector for power conversion for electric vehicle traction inverters, charging infrastructure, and a range of industrial, data center, and infrastructure applications. Based on recent market forecasts, growth in silicon carbide sales outside of China should remain challenging before recovering in calendar 2026. We believe we are well positioned in this market as we have a large customer base and are currently engaged in benchmarking efforts with multiple potential new silicon carbide customers around the globe, including in China. While we remain cautiously optimistic about the opportunities in China, we also recognize the geopolitical, trade, and intellectual property risks associated with this market. Recently, we filed a lawsuit in China against a local supplier for intellectual property infringement. This action relates to features of products by that company targeted at wafer level burn-in of silicon carbide devices that we believe infringe on Aehr’s intellectual property and patents granted to Aehr by the Chinese patent office. Our current fiscal year forecast includes contemplated orders and revenue yet to be booked for silicon carbide wafer level burn-in systems and WaferPaks destined for silicon carbide manufacturers in China. It is important to bring this to our shareholders attention, as recent trade-related developments in the U.S. and the emergence of competitive offerings in China that we believe infringe on our intellectual property have heightened the risk associated with bookings and revenue from Chinese customers.
“As we look at the composition of our total revenue for this fiscal year, silicon carbide is expected to account for less than half our total revenue as we have seen our expansion into additional markets capture real market share gains. AI processors, including wafer level and package parts, could comprise as much as 40% of our total revenue this fiscal year, up from effectively zero revenue last year. GaN, hard disk drives, silicon photonics integrated circuits, and other semiconductor package part revenues will comprise about another 20% of total revenue. We are not pivoting away from silicon carbide but rather are generating growth in these other markets while not seeing the growth in silicon carbide this year like we saw last year. According to recent market research from companies such as Yole, the estimated revenue for silicon carbide semiconductors in 2024 was around $2.5 billion and is expected to reach $10 billion by the end of the decade. To put this into perspective, the semiconductor market is projected to grow from about $600 billion overall in 2024 to over $1 trillion by the end of this decade, so silicon carbide will be about 1% of the overall semiconductor market by 2030.
“Aehr’s innovative solutions are poised to capitalize on this growth in the overall semiconductor market by addressing the critical reliability needs of next-generation applications and leveraging key megatrends shaping the semiconductor industry. Reliability has become a critical priority across a wide range of industries, including combustion and electric vehicles, data centers, electrification of the worlds infrastructure, and a wide range of AI applications. Factors such as smaller semiconductor geometries, the increasing adoption of compound and optical semiconductors, and the complexities of ensuring semiconductor reliability ever increasing power and performance of semiconductors and advanced packaging are driving the demand for wafer level and packaged part test and burn-in systems. Aehr’s solutions are instrumental in reducing early operational failures and ensuring long-term device performance in these rapidly advancing markets.
“With strong customer engagements, expanding market opportunities, and innovative products designed to meet evolving demands, we are optimistic as we move into the second half of our fiscal year and maintain our previously stated financial guidance for the fiscal year.
“As we’ve stated before, given the nature of our business with our high ASPs, our quarterly revenue can experience significant variability if system orders anticipated by quarter-end are delayed by even a few days. This was the case in this last quarter, and why we do not provide quarterly guidance. In the case of both our new GaN and wafer level AI customers, both requested pre-built systems that we fully expected to ship to them within the quarter. However, the purchase orders were not finalized until after the quarter ended. Looking past quarterly variations to the full year and beyond, we are excited about the current and emerging market opportunities for our products, which not only position us for a successful fiscal year, but also lay a solid foundation for long-term, sustainable growth in the years ahead.”
Fiscal 2025 Financial Guidance:
For the fiscal year ending May 30, 2025, Aehr is reiterating its previously provided guidance for total revenue of at least $70 million and non-GAAP net profit before taxes of at least 10% of revenue.
Original – Aehr Test Systems
-
LATEST NEWS / PRODUCT & TECHNOLOGY2 Min Read
MCC Semi introduced the first high-voltage MOSFET with Kelvin source pin in the compact DFN8080A package. Designed to help engineers balance costs and performance, 600V MSJL120N60FH leverages superjunction technology and an integrated FRED body diode to facilitate high-speed switching and recovery.
Its low gate charge and RDS(on) of only 100Ω (typ.) significantly improve switching speeds and reduce losses in a range of demanding applications. Featuring junction-to-case thermal resistance of 0.47K/W, this MOSFET assures reliable operation in high-temp environments, making it an intelligent choice for motor drives, solar inverters, industrial controllers, and power supplies.
With a height of less than 1mm, its low-profile DFN8080A package is well-suited for high-frequency applications where space is limited, and performance is mission-critical.
For engineers looking to boost efficiency and minimize losses, MSJL120N60FH boasts the perfect combination of features for high-voltage, space-constrained scenarios.
Features & Benefits:
- Superjunction technology: Enhances efficiency by reducing on-state resistance.
- Low on-resistance: Minimizes power dissipation at 100mΩ (typ.).
- Low conduction losses: Improves overall system efficiency.
- Low gate charge: Facilitates increased switching speeds.
- Kelvin source pin: Dramatically reduces switching losses while enhancing efficiency.
- Excellent thermal resistance: Junction-to-case thermal resistance of 0.47K/W ensures stable operation amid demanding conditions.
- Integrated FRED body diode: Reduces reverse recovery time for improved switching.
- High-speed switching: Optimal for high-frequency applications.
- Compact package size: DFN8080A package with a low-profile height of less than 1mm, perfect for space-constrained designs.
Original – Micro Commercial Components
-
LATEST NEWS / PRODUCT & TECHNOLOGY2 Min Read
Renesas Electronics Corporation introduced new 100V high-power N-Channel MOSFETs that deliver industry-leading high-current switching performance for applications such as motor control, battery management systems, power management and charging. End products include electric vehicles, e-bikes, charging stations, power tools, data centers, uninterruptable power supplies (UPS) and more.
Renesas has developed a new MOSFET wafer manufacturing process (REXFET-1) that enables the new devices to drastically reduce on-resistance (the resistance between the drain and source when the MOSFET is on) by 30 percent. The lower on-resistance contributes to much lower power loss in customer designs.
The REXFET-1 process also enables the new MOSFETs to offer a 10 percent reduction in Qg characteristics (the amount of charge needed to apply voltage to a gate), and a 40 percent reduction in Qgd (the amount of charge that needs to be injected into the gate during the “Miller Plateau” phase).
In addition to superior electrical characteristics, Renesas’ new RBA300N10EANS and RBA300N10EHPF MOSFETs are available in industry-standard TOLL and TOLG packages that are pin-compatible with devices from other manufacturers, and 50 percent smaller than traditional TO-263 packages. The TOLL package also offers wettable flanks for optical inspection.
“Renesas has been a leader in the MOSFET market for many years,” said Avi Kashyap, Vice President of Discrete Power Solutions BU at Renesas. “As we apply our manufacturing muscle to this market, we can provide customers with superior technical products, as well as assurance of supply from multiple high-volume facilities.”
Renesas has combined the new MOSFETs with numerous compatible devices from its portfolio to offer a wide array of Winning Combinations, including among others, 48V Mobility Platform and 3-in-1 Electric Vehicle Unit: Inverter, Onboard Charger, DC/DC Converter. These designs are technically vetted system architectures from mutually compatible devices that work together seamlessly to bring an optimized, low-risk design for faster time to market.
Renesas offers more than 400 Winning Combinations with a wide range of products from the Renesas portfolio to enable customers to speed up the design process and bring their products to market more quickly. They can be found at renesas.com/win.
Original – Renesas Electronics
-
GaN / LATEST NEWS / PRODUCT & TECHNOLOGY / WBG1 Min Read
Toyoda Gosei’s technology to enhance GaN substrates has been verified to improve power device performance. An article confirming it was published in Physica Status Solidi (RRL) – Rapid Research Letters, an international scientific journal for solid state physics.
Better power devices are indispensable for CO2 reduction in society, as they regulate electric power everywhere. Switching material from silicon to gallium nitride enables 90% energy-saving, superior devices, for which mass production of larger quality GaN substrates is requisite.
The Japanese Ministry of the Environment is leading a project for broad application of GaN power devices, for which Toyoda Gosei is providing technology to obtain ideal GaN crystals. One outcome of the project is a demonstrable improvement in power device performance with a GaN substrate fabricated on a GaN seed crystal that Toyoda Gosei jointly developed with Osaka University. Compared to power devices made on commercially-available substrates, power devices using these GaN substrates show higher performance in both power regulation capacity and yield ratio.
Toyoda Gosei will continue collaborating with government, universities, and other corporations for earlier dissemination of large quality GaN substrates.
Original – Toyoda Gosei
-
GaN / LATEST NEWS / WBG4 Min Read
Aehr Test Systems has received an initial production order from a top tier automotive semiconductor supplier for a FOX-XP™ wafer level test and burn-in system with fully integrated FOX WaferPak™ Aligner for production test of their gallium nitride (GaN) power semiconductor devices. The FOX-XP system with integrated WaferPak Aligner is scheduled to ship immediately.
Gayn Erickson, President and CEO of Aehr Test Systems, commented, “We have been working closely with this customer for over a year to support their evaluation and qualification process for delivering GaN power semiconductor devices to their customers. We are thrilled to receive this initial production purchase order, signaling their commitment to move forward with volume production wafer level burn-in of their GaN devices on our FOX-XP platform.
“This customer has extensively utilized a FOX-NP system under an evaluation agreement for production qualification and reliability testing of their devices over the past year. As part of the evaluation, they purchased a significant number of our proprietary WaferPak full wafer Contactors to successfully qualify a wide range of GaN device types designed for multiple end use applications including industrial, solar, data center, and automotive markets.
“Our FOX-P platform allows customers using the FOX-NP for device qualification and reliability testing of power semiconductors like GaN and silicon carbide (SiC) to transition seamlessly to the FOX-XP multi-wafer fully automated system, which is capable of testing up to nine wafers in parallel and is specifically designed to handle high-voltage testing and high temperature Gate and Drain stress test requirements. By leveraging our FOX-XP system and our proprietary WaferPak full wafer Contactors, customers can easily test wafers of varying sizes from 6 to 12 inches by simply purchasing new WaferPaks, while utilizing the same FOX-XP system and FOX WaferPak Aligner.
“Like SiC, GaN semiconductor MOSFETs are wide bandgap devices that offer significantly higher power conversion efficiency than silicon. GaN is particularly well suited for lower power applications such as sub-1000-watt power converters (fast chargers) used in consumer electronics like cell phones, tablets, and laptops. Additionally, it is increasingly being adopted for automotive power converters, supporting electrical systems in both electric and traditional gasoline-powered cars, as well as being targeted at data center power applications where power efficiency and delivery are critical to support the massive amount of computing power and data storage being installed over the next decade. Along with the increased usage in automotive and data centers, many industry experts and analysts predict that GaN MOSFETs will eventually replace silicon as the preferred technology for power conversion in photovoltaic (solar panel) applications.
“We view GaN as a transformative and rapidly growing technology in the power semiconductor market. With an anticipated compound annual growth rate of more than 40%, the GaN market is projected to reach $2.5 billion in annual device sales by 2029 according to Yole Group’s Power SiC/GaN Compound Semiconductor Market Monitor. In addition, Frost & Sullivan estimates GaN semiconductors will account for over 10% of the worldwide power semiconductor industry by the year 2028. This represents a significant growth opportunity for Aehr’s wafer level test and burn-in solutions.”
The FOX-XP and FOX-NP systems, available with multiple WaferPak Contactors (full wafer test) or multiple DiePakTM Carriers (singulated die/module test) configurations, are capable of functional test and burn-in/cycling of devices such as silicon carbide and gallium nitride power semiconductors, artificial intelligence processors, silicon photonics as well as other optical devices, 2D and 3D sensors, flash memories, magnetic sensors, microcontrollers, and other leading-edge ICs in either wafer form factor, before they are assembled into single or multi-die stacked packages, or in singulated die or module form factor.
Original – Aehr Test Systems