Wolfspeed (NYSE:WOLF – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of -0.960–0.830 for the period, compared to the consensus earnings per share estimate of -0.780. The company issued revenue guidance of $185.0 million-$215.0 million, compared to the consensus revenue estimate of $201.1 million. Wolfspeed also updated its Q4 guidance to $(0.96)-(0.83) EPS.
Wolfspeed Trading Down 3.8 %
Shares of NYSE:WOLF opened at $22.08 on Wednesday. The business has a fifty day simple moving average of $25.73 and a 200-day simple moving average of $29.84. Wolfspeed has a 52 week low of $20.63 and a 52 week high of $70.42. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 5.55.
Wolfspeed (NYSE:WOLF – Get Free Report) last issued its quarterly earnings results 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. Wolfspeed had a negative return on equity of 27.37% and a negative net margin of 96.12%. The firm had revenue of $200.70 million for the quarter, compared to analyst estimates of $201.49 million. On average, sell-side analysts predict that Wolfspeed will post -3.13 EPS for the current year.
Analyst Ratings Changes
Read Our Latest Research Report on WOLF
Insider Transactions at Wolfspeed
In other Wolfspeed news, Director Marvin Riley purchased 1,866 shares of Wolfspeed stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of $27.05 per share, with a total value of $50,475.30. Following the completion of the acquisition, the director now owns 13,297 shares of the company’s stock, valued at approximately $359,683.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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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