Wolfspeed, Inc. (NYSE:WOLF) Given Average Rating of “Hold” by Brokerages

Shares of Wolfspeed, Inc. (NYSE:WOLF) have been given an average rating of “Hold” by the sixteen research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $22.43.

A number of equities analysts have weighed in on the company. Canaccord Genuity Group lowered their price objective on Wolfspeed from $45.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Piper Sandler lowered their price target on shares of Wolfspeed from $35.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, August 22nd. TD Cowen cut their price objective on shares of Wolfspeed from $25.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, August 22nd. Oppenheimer reiterated a “market perform” rating on shares of Wolfspeed in a report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Wolfspeed from $17.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, August 22nd.

Institutional Trading of Wolfspeed

A number of large investors have recently modified their holdings of WOLF. Mather Group LLC. grew its stake in Wolfspeed by 385.5% during the 2nd quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock worth $27,000 after purchasing an additional 933 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Wolfspeed by 64.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock valued at $52,000 after buying an additional 691 shares during the period. Signaturefd LLC grew its position in shares of Wolfspeed by 284.3% during the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock worth $48,000 after buying an additional 1,544 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of Wolfspeed by 34.7% during the first quarter. Sunbelt Securities Inc. now owns 2,724 shares of the company’s stock worth $80,000 after buying an additional 702 shares during the period. Finally, Eastern Bank acquired a new stake in Wolfspeed in the third quarter valued at approximately $27,000.

Wolfspeed Stock Performance

WOLF opened at $14.80 on Thursday. Wolfspeed has a twelve month low of $7.28 and a twelve month high of $47.43. The firm has a market capitalization of $1.86 billion, a PE ratio of -2.29 and a beta of 1.52. The company has a current ratio of 4.51, a quick ratio of 3.85 and a debt-to-equity ratio of 6.99. The firm’s 50-day moving average price is $10.67 and its 200 day moving average price is $19.05.

Wolfspeed (NYSE:WOLF) last released its earnings results on Wednesday, August 21st. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.03). The business had revenue of $200.70 million during the quarter, compared to analysts’ expectations of $201.11 million. Wolfspeed had a negative return on equity of 37.76% and a negative net margin of 107.93%. As a group, sell-side analysts expect that Wolfspeed will post -3.84 EPS for the current fiscal year.

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.