Wolfspeed rises after deal to sell radio frequency unit for $125 mln

MACOM Technology Solutions Holdings

22/08/2023 11:37

** Shares of semiconductor company Wolfspeed  WOLF.N  up
1.2% at $45 premarket 
    ** Co to sell its radio frequency business to MACOM
Technology Solutions  MTSI.O  in a deal valued at $125 mln 
    ** Includes cash component of $75 mln and $50 mln of MTSI's
shares to WOLF with certain restrictions
    ** Following completion, WOLF sees Q1 sales in the range of
$185 mln to $205 mln vs $220 mln to $240 mln previously
expected; Q1 earnings forecast remain unchanged 
    ** Transaction expected to close by year-end 
    ** MTSI shares were flat in premarket trading
    ** YTD, WOLF down 36% and MTSI had risen 15% through last
close 

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))