Wolfspeed (NYSE:WOLF – Get Free Report) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $(0.96)-(0.83) for the period, compared to the consensus estimate of ($0.78). The company issued revenue guidance of $185-215 million, compared to the consensus revenue estimate of $202.86 million. Wolfspeed also updated its Q4 2024 guidance to -0.960–0.830 EPS.
Wolfspeed Stock Down 2.7 %
Shares of NYSE:WOLF opened at $22.95 on Tuesday. The firm has a 50 day moving average of $25.80 and a 200-day moving average of $29.96. The company has a debt-to-equity ratio of 5.55, a quick ratio of 4.00 and a current ratio of 4.58. Wolfspeed has a 12 month low of $20.63 and a 12 month high of $70.42.
Wolfspeed (NYSE:WOLF – Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.03. The business had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $201.49 million. Wolfspeed had a negative net margin of 96.12% and a negative return on equity of 27.37%. As a group, equities research analysts expect that Wolfspeed will post -3.13 EPS for the current year.
Analyst Ratings Changes
View Our Latest Stock Report on WOLF
Insider Activity
In other news, Director Marvin Riley acquired 1,866 shares of Wolfspeed stock in a transaction dated Tuesday, May 28th. The shares were bought at an average cost of $27.05 per share, with a total value of $50,475.30. Following the purchase, the director now owns 13,297 shares in the company, valued at approximately $359,683.85. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.85% of the company’s stock.
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.
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