Wolfspeed (NYSE:WOLF) Stock Rating Lowered by William Blair

William Blair cut shares of Wolfspeed (NYSE:WOLF) from an outperform rating to a market perform rating in a research note published on Thursday morning, Marketbeat Ratings reports.

A number of other research analysts have also recently weighed in on WOLF. Piper Sandler lowered their target price on shares of Wolfspeed from $55.00 to $45.00 and set an overweight rating on the stock in a research note on Thursday, February 1st. Roth Mkm restated a buy rating and issued a $50.00 price objective on shares of Wolfspeed in a research report on Tuesday, April 30th. Susquehanna decreased their target price on Wolfspeed from $35.00 to $25.00 and set a neutral rating on the stock in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Wolfspeed from $35.00 to $30.00 and set a hold rating on the stock in a report on Tuesday, April 23rd. Finally, Wells Fargo & Company reaffirmed an equal weight rating and issued a $30.00 target price (down from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $37.27.

Wolfspeed Price Performance

NYSE WOLF opened at $25.33 on Thursday. The company has a current ratio of 4.58, a quick ratio of 4.58 and a debt-to-equity ratio of 5.55. Wolfspeed has a 12 month low of $20.63 and a 12 month high of $70.42. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -3.92 and a beta of 1.64. The company’s 50 day moving average is $26.61 and its two-hundred day moving average is $32.01.

Institutional Trading of Wolfspeed

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

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.