-$0.11 EPS Expected for Wolfspeed, Inc. (NYSE:WOLF) This Quarter

Wall Street analysts predict that Wolfspeed, Inc. (NYSE:WOLFGet Rating) will report earnings of ($0.11) per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Wolfspeed’s earnings, with the lowest EPS estimate coming in at ($0.18) and the highest estimate coming in at ($0.08). Wolfspeed posted earnings per share of ($0.23) in the same quarter last year, which would indicate a positive year over year growth rate of 52.2%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Wolfspeed will report full year earnings of ($0.59) per share for the current year, with EPS estimates ranging from ($0.66) to ($0.55). For the next fiscal year, analysts anticipate that the firm will post earnings of $0.07 per share, with EPS estimates ranging from ($0.29) to $0.40. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Wolfspeed.

Separately, Citigroup lowered their target price on Wolfspeed from $125.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, May 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Wolfspeed presently has a consensus rating of “Buy” and an average target price of $130.00.

NYSE:WOLF opened at $73.88 on Thursday. The firm’s fifty day moving average is $93.39. Wolfspeed has a fifty-two week low of $63.44 and a fifty-two week high of $142.33.

Wolfspeed Company Profile (Get Rating)

Wolfspeed, Inc provides silicon carbide and gallium nitride (GaN) materials, power devices, and radio frequency (RF) devices based on wide bandgap semiconductor materials and silicon. The company's silicon carbide and GaN materials comprise silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers.

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