Wolfspeed, Inc. (NYSE:WOLF) Receives $17.36 Average PT from Brokerages

Shares of Wolfspeed, Inc. (NYSE:WOLF) have received a consensus rating of “Hold” from the sixteen analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $17.21.

A number of equities research analysts have recently commented on WOLF shares. Canaccord Genuity Group cut their target price on Wolfspeed from $25.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. New Street Research downgraded shares of Wolfspeed from a “buy” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a research report on Wednesday, August 7th. Bank of America decreased their target price on shares of Wolfspeed from $25.00 to $15.00 and set an “underperform” rating for the company in a report on Friday, August 23rd. Morgan Stanley increased their price target on shares of Wolfspeed from $10.00 to $15.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective 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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mather Group LLC. increased its stake in shares of Wolfspeed by 385.5% during the second quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock valued at $27,000 after buying an additional 933 shares during the period. Eastern Bank purchased a new position in shares of Wolfspeed during the third quarter valued at $27,000. GAMMA Investing LLC increased its stake in shares of Wolfspeed by 416.4% during the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock valued at $44,000 after buying an additional 3,664 shares during the period. Signaturefd LLC increased its stake in shares of Wolfspeed by 284.3% during the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock valued at $48,000 after buying an additional 1,544 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in Wolfspeed by 64.8% in the first quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock valued at $52,000 after purchasing an additional 691 shares during the last quarter.

Wolfspeed Stock Performance

NYSE WOLF opened at $6.44 on Monday. The company has a market capitalization of $822.47 million, a price-to-earnings ratio of -1.08 and a beta of 1.46. The stock’s 50-day simple moving average is $10.74 and its two-hundred day simple moving average is $17.01. The company has a quick ratio of 2.54, a current ratio of 3.14 and a debt-to-equity ratio of 9.82. Wolfspeed has a twelve month low of $6.27 and a twelve month high of $47.43.

Wolfspeed (NYSE:WOLF) last posted its earnings results on Wednesday, August 21st. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.03). The business had revenue of $200.70 million during the quarter, compared to the consensus estimate of $201.11 million. Wolfspeed had a negative return on equity of 49.86% and a negative net margin of 93.31%. Research analysts forecast that Wolfspeed will post -4.13 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.