Activist investor Jana has a significant stake in Wolfspeed and urges it to consider sale

Activist investor Jana Partners has built a "significant" position in semiconductor firm Wolfspeed, according to a letter to the firm's board. Jana has urged the semi-manufacturer to consider a sale of the company. Wolfspeed is a semiconductor manufacturer that makes semiconductor chips.

Activist investor Jana Partners urges Wolfspeed to explore all ways to improve shareholder value. Wolfspeed has market value of $2.8 billion. Jana owns a "significant" stake in the silicon carbide maker, according to a letter reviewed by Reuters. The 37-year-old company is the world's largest maker of silicon carbides.