BUZZ-Wolfspeed gains after Q2 revenue beat

Shares of chipmaker Wolfspeed WOLF.N rise 1.8% to $6.11 premarket

Co reports Q2 rev. of $180.5 mln, above estimates of 179.9 mln, with smaller-than-expected net loss per share of 95 cents, compared with estimates of loss of $1.02 per share - LSEG-compiled data

WOLF sees Q3 revenue from continuing operations in range of $170 mln to $200 mln vs average analysts' estimates of $193.60 mln

Expects Q3 adjusted loss per share between 88 cents and 76 cents, vs estimates of loss of 86 cents per share

In mid-Nov, co's board ousted its CEO Gregg Lowe and appointed Thomas Werner as executive chairman, while it finds a permanent CEO

Four of 18 brokerages rate the stock "buy", 10 "hold" and four rate it "sell"; their median PT is $10 - LSEG data

WOLF stock lost 84.7% in 2024 vs Philadelphia Semiconductor index's .SOX gain of about 20%