Wolfspeed, Inc. (NYSE:WOLF) Receives Average Rating of “Hold” from Analysts

Wolfspeed, Inc. (NYSE:WOLF) has been given a consensus rating of “Hold” by the thirteen ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $41.00.

A number of analysts recently weighed in on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $30.00 target price (down from $55.00) on shares of Wolfspeed in a research note on Wednesday, April 3rd. Mizuho assumed coverage on Wolfspeed in a report on Friday, April 5th. They set a “neutral” rating and a $30.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Piper Sandler cut their target price on Wolfspeed from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Finally, Susquehanna lowered their price target on Wolfspeed from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, April 23rd.

Insider Activity

In related news, Director Darren R. Jackson acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was purchased at an average price of $25.80 per share, for a total transaction of $258,000.00. Following the transaction, the director now owns 49,021 shares in the company, valued at approximately $1,264,741.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.85% of the company’s stock.

Institutional Trading of Wolfspeed

A number of hedge funds have recently added to or reduced their stakes in WOLF. TFO Wealth Partners LLC increased its stake in Wolfspeed by 57,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $25,000 after acquiring an additional 574 shares during the last quarter. Independence Bank of Kentucky increased its position in shares of Wolfspeed by 97.0% in the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after acquiring an additional 350 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Wolfspeed by 56.9% in the 1st quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock valued at $37,000 after acquiring an additional 452 shares during the period. Rakuten Securities Inc. acquired a new position in shares of Wolfspeed during the 4th quarter valued at $48,000. Finally, GAMMA Investing LLC purchased a new stake in Wolfspeed during the 4th quarter worth $56,000.

Wolfspeed Price Performance

WOLF stock opened at $26.10 on Thursday. The business’s fifty day moving average price is $26.60 and its 200 day moving average price is $32.22. Wolfspeed has a 12-month low of $21.85 and a 12-month high of $70.42. The company has a current ratio of 5.13, a quick ratio of 4.58 and a debt-to-equity ratio of 4.50. The company has a market capitalization of $3.28 billion, a PE ratio of -4.29 and a beta of 1.66.

Wolfspeed (NYSE:WOLF) last released its earnings results on Wednesday, January 31st. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.10. The company had revenue of $208.40 million for the quarter, compared to analyst estimates of $205.94 million. Wolfspeed had a negative net margin of 87.35% and a negative return on equity of 19.35%. On average, sell-side analysts anticipate that Wolfspeed will post -3.05 EPS for the current year.

Wolfspeed Company Profile

Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies in Europe, Hong Kong, China, rest of Asia-Pacific, the United States, 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.