Susquehanna Trims Wolfspeed (NYSE:WOLF) Target Price to $23.00

Wolfspeed (NYSE:WOLF) had its target price lowered by Susquehanna from $25.00 to $23.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts have also recently weighed in on the company. Mizuho lowered their price target on Wolfspeed from $30.00 to $27.00 and set a neutral rating on the stock in a report on Thursday. Roth Mkm reaffirmed a buy rating and issued a $50.00 target price on shares of Wolfspeed in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft decreased their target price on Wolfspeed from $35.00 to $30.00 and set a hold rating on the stock in a report on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their target price on Wolfspeed from $43.00 to $35.00 and set a neutral rating on the stock in a report on Thursday, April 11th. Finally, Piper Sandler decreased their target price on Wolfspeed from $55.00 to $45.00 and set an overweight rating on the stock in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $37.27.

Wolfspeed Price Performance

NYSE WOLF opened at $25.33 on Thursday. The business’s fifty day moving average price is $26.61 and its 200-day moving average price is $32.02. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -3.92 and a beta of 1.64. The company has a debt-to-equity ratio of 5.55, a current ratio of 4.58 and a quick ratio of 4.58. Wolfspeed has a 1-year low of $20.63 and a 1-year high of $70.42.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings results on Wednesday, January 31st. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.10. The firm had revenue of $208.40 million for the quarter, compared to analysts’ expectations of $205.94 million. Wolfspeed had a negative return on equity of 27.37% and a negative net margin of 96.12%. On average, equities analysts predict that Wolfspeed will post -3.05 earnings per share for the current year.

Institutional Investors Weigh In On Wolfspeed

A number of institutional investors have recently bought and sold shares of the business. State of Michigan Retirement System increased its stake in Wolfspeed by 1.0% in the 4th quarter. State of Michigan Retirement System now owns 30,022 shares of the company’s stock worth $1,306,000 after buying an additional 300 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Wolfspeed by 2.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 11,573 shares of the company’s stock valued at $435,000 after purchasing an additional 317 shares in the last quarter. Independence Bank of Kentucky grew its position in shares of Wolfspeed by 97.0% during the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock valued at $31,000 after purchasing an additional 350 shares in the last quarter. Fox Run Management L.L.C. grew its position in shares of Wolfspeed by 3.4% during the third quarter. Fox Run Management L.L.C. now owns 13,407 shares of the company’s stock valued at $511,000 after purchasing an additional 437 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Wolfspeed by 56.9% during the first quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock valued at $37,000 after purchasing an additional 452 shares in the last quarter.

About Wolfspeed

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.