Wolfspeed, Inc. (NYSE:WOLF) Receives $17.21 Consensus Target Price from Analysts

Wolfspeed, Inc. (NYSE:WOLF) has received a consensus rating of “Hold” from the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $17.21.

A number of research analysts recently commented on WOLF shares. StockNews.com raised shares of Wolfspeed to a “sell” rating in a report on Monday. Roth Mkm lowered their price objective on Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and set a $18.00 target price (down previously from $20.00) on shares of Wolfspeed in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price target on Wolfspeed from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Finally, Susquehanna reduced their target price on shares of Wolfspeed from $16.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th.

Insider Buying and Selling at Wolfspeed

In other Wolfspeed news, Director Darren R. Jackson bought 36,975 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average cost of $6.76 per share, for a total transaction of $249,951.00. Following the purchase, the director now directly owns 85,996 shares in the company, valued at $581,332.96. This represents a 75.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Glenda Dorchak purchased 3,592 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average price of $8.33 per share, with a total value of $29,921.36. Following the completion of the purchase, the director now owns 18,688 shares of the company’s stock, valued at $155,671.04. The trade was a 23.79 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 78,067 shares of company stock valued at $524,747. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Wolfspeed

Several hedge funds have recently modified their holdings of WOLF. Arizona State Retirement System boosted its stake in Wolfspeed by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 35,217 shares of the company’s stock worth $802,000 after purchasing an additional 775 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Wolfspeed by 5.1% during the third quarter. Vontobel Holding Ltd. now owns 37,565 shares of the company’s stock worth $364,000 after buying an additional 1,835 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Wolfspeed by 1.3% during the third quarter. New York State Teachers Retirement System now owns 145,284 shares of the company’s stock valued at $1,409,000 after buying an additional 1,885 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Wolfspeed by 9.3% in the 2nd quarter. ProShare Advisors LLC now owns 23,395 shares of the company’s stock valued at $532,000 after acquiring an additional 1,993 shares during the period. Finally, Ensign Peak Advisors Inc raised its stake in Wolfspeed by 5.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 42,501 shares of the company’s stock worth $967,000 after acquiring an additional 2,350 shares during the last quarter.

Wolfspeed Price Performance

Wolfspeed stock opened at $5.92 on Tuesday. Wolfspeed has a 52-week low of $5.89 and a 52-week high of $41.89. The company has a quick ratio of 2.54, a current ratio of 3.14 and a debt-to-equity ratio of 9.82. The firm’s fifty day moving average is $8.43 and its 200 day moving average is $12.54. The company has a market cap of $756.06 million, a price-to-earnings ratio of -0.99 and a beta of 1.43.

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.