Wolfspeed (NYSE:WOLF) reported an adjusted loss per share of $2.26 for the fourth quarter of fiscal year 2026, significantly exceeding analyst expectations, with a gross margin of negative 20%. ON Semiconductor (NASDAQ:ON) shares fell 2% to $74.83, impacted by overall market weakness. The iShares Semiconductor ETF (SOXX) fell 0.5%, suggesting the market views Wolfspeed's decline as a company-specific event rather than a broader chip industry sell-off.