Wolfspeed (NYSE:WOLF – Get Free Report) is anticipated to release its earnings data after the market closes on Wednesday, January 29th. Analysts expect Wolfspeed to post earnings of ($0.90) per share and revenue of $188,250.00 billion for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.
Wolfspeed Stock Up 8.3 %
Shares of WOLF stock opened at $6.62 on Monday. Wolfspeed has a twelve month low of $4.66 and a twelve month high of $35.84. The stock has a market cap of $844.80 million, a P/E ratio of -1.11 and a beta of 1.43. The stock has a 50 day moving average of $7.53 and a 200 day moving average of $11.04. The company has a current ratio of 3.14, a quick ratio of 2.54 and a debt-to-equity ratio of 9.82.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Wolfspeed from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Mizuho decreased their price objective on shares of Wolfspeed from $10.00 to $6.00 and set an “underperform” rating for the company in a research report on Tuesday, November 19th. Susquehanna dropped their target price on Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price target (down previously from $20.00) on shares of Wolfspeed in a report on Thursday, November 7th. Finally, Roth Mkm lowered their price target on Wolfspeed from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.79.
Insider Buying and Selling
In other Wolfspeed news, Chairman Thomas H. Werner purchased 37,500 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average cost of $6.53 per share, with a total value of $244,875.00. Following the completion of the purchase, the chairman now owns 108,549 shares in the company, valued at approximately $708,824.97. This represents a 52.78 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Darren R. Jackson acquired 36,975 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average cost of $6.76 per share, with a total value of $249,951.00. Following the purchase, the director now owns 85,996 shares in the company, valued at $581,332.96. This represents a 75.43 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 78,067 shares of company stock worth $524,747. 0.84% of the stock is owned by corporate insiders.
Wolfspeed Company Profile
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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