Chipmakers down on China chip material export curbs; Wolfspeed gained

Navitas Semiconductor

05/07/2023 11:25

(Updates)
    ** Shares of chipmakers down premarket, as cos, caught out
by China's decision to restrict exports of two metals - gallium,
germanium - used in chips and EVs, were racing to secure
supplies on worries more curbs could follow
    ** "China export controls may impact directly U.S.- and
Euro-based manufacturers of gallium nitride (GaN) materials and
buyers of these materials for the processing of compound semis"
- Wells Fargo
    ** Wells Fargo says WOLF may experience constraints for
GaNon-SiC (RF GaN) production, while radio frequency front end
(RFFE) players like Qorvo Inc  QRVO.O , Skyworks Solutions Inc
 SWKS.O  and QCOM may also be impacted
    ** Shares of Qualcomm  QCOM.O  down 0.9%, Lumentum Holdings
Inc  LITE.O  down 4.9%, U.S.-listed shares of NXP Semiconductors
NV down 1.2% 
    ** However, shares of Wolfspeed Inc  WOLF.N  reverse course
premarket to gain 13.7% after signing 10-year silicon carbide
wafer supply agreement with Renesas Electronics Corp  6723.T  
    ** Shares of QRVO and SWKS down 0.9% and 1.7 % premarket,
respectively

 (Reporting by Rupali Chaudhary and Aniruddha Ghosh in
Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))