Canaccord Genuity Group reaffirmed their buy rating on shares of Wolfspeed (NYSE:WOLF – Get Rating) in a research report released on Wednesday, Benzinga reports. They currently have a $140.00 price target on the stock.
Other analysts have also issued research reports about the company. Evercore ISI started coverage on Wolfspeed in a research note on Tuesday, September 13th. They issued an outperform rating and a $155.00 target price for the company. Citigroup upped their target price on Wolfspeed from $95.00 to $115.00 and gave the stock a buy rating in a research note on Thursday, August 18th. Cowen upped their target price on Wolfspeed from $100.00 to $125.00 and gave the stock an outperform rating in a research note on Thursday, August 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on Wolfspeed from $90.00 to $110.00 and gave the company a hold rating in a research report on Wednesday, September 14th. Finally, BMO Capital Markets boosted their price objective on Wolfspeed from $75.00 to $100.00 and gave the company a market perform rating in a research report on Thursday, August 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $121.76.
Wolfspeed Stock Up 0.6 %
Shares of NYSE WOLF opened at $120.13 on Wednesday. Wolfspeed has a 12 month low of $58.07 and a 12 month high of $142.33. The company has a current ratio of 4.54, a quick ratio of 3.95 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $14.92 billion, a price-to-earnings ratio of -70.66 and a beta of 1.58. The business has a 50-day moving average of $100.43 and a 200-day moving average of $81.13.
Insider Activity at Wolfspeed
In other Wolfspeed news, Director Duy Loan T. Le bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was bought at an average price of $120.34 per share, for a total transaction of $240,680.00. Following the completion of the acquisition, the director now directly owns 2,000 shares in the company, valued at $240,680. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Wolfspeed
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WOLF. Capital Impact Advisors LLC purchased a new stake in shares of Wolfspeed in the second quarter worth $136,000. Forum Financial Management LP purchased a new stake in shares of Wolfspeed in the first quarter worth $200,000. Icon Wealth Partners LLC grew its stake in shares of Wolfspeed by 27.9% in the second quarter. Icon Wealth Partners LLC now owns 4,088 shares of the company’s stock worth $259,000 after acquiring an additional 893 shares during the last quarter. Centiva Capital LP purchased a new stake in shares of Wolfspeed in the second quarter worth $304,000. Finally, Captrust Financial Advisors grew its stake in shares of Wolfspeed by 20.2% in the second quarter. Captrust Financial Advisors now owns 7,011 shares of the company’s stock worth $445,000 after acquiring an additional 1,180 shares during the last quarter.
Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies Europe, China, the United States, Japan, South Korea, and internationally. It offers silicon carbide and GaN materials, including silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers to manufacture products for RF, power, and other applications.
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