Chewy may not be a high-growth machine, but it's an incredibly steady grower. Silicon carbide specialist Wolfspeed is fiscally regrouped and ready to fully capitalize on its opportunity.

Shares of Wolfspeed, Inc. (NYSE: WOLF - Get Free Report) have received a consensus rating of "Reduce" from the eight analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company.

Wolfspeed is well-positioned to capitalize on the EV boom, leveraging its 200mm silicon carbide ramp and strong Toyota partnership. With $1.5 billion in liquidity, including a $698.6 million IRS tax refund, WOLF can accelerate Mohawk Valley Fab production and support future growth. Despite recent revenue declines and deep net losses, WOLF is projected to rebound, with FY2026 revenue estimates at $800.44 million and an improving EPS outlook.

Both Wolfspeed and Plug Power have struggled with negative gross margins. Wolfspeed emerged from bankruptcy with a better balance sheet and the goal of fixing its manufacturing yield issues.

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A $10,000 investment in Wolfspeed made at the end of November 2022 would be worth just $2,071 today. Cash burn remained a major issue even as Wolfspeed moved closer to breakeven earnings.

DURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed Inc. (NYSE: WOLF), a global leader in innovative silicon carbide power solutions, today announced that its automotive MOSFETs will power onboard charger systems for Toyota, one of the most respected and quality-driven automakers in the world. Wolfspeed's silicon carbide components will be integrated into Toyota's Battery Electric Vehicles (BEV). This silicon carbide device adoption reflects Toyota's confidence in Wolfspeed's ability to meet the automaker.

Wolfspeed has finally received nearly $700 million in tax refunds set aside for the company through the CHIPS Act. The new funding improves Wolfspeed's financial position and makes it more likely that additional governmental help could arrive at some point.

The IRS just cut Wolfspeed a check for $698.6 million. Wolfspeed expects to eventually reap $1 billion-worth of Advanced Manufacturing Investment Credits.

Shares of Wolfspeed, Inc. (NASDAQ: WOLF) are trading higher on Monday after the company said it received a large tax refund from the IRS.