Wolfspeed, Inc. (NYSE:WOLF) Receives Average Recommendation of “Hold” from Brokerages

Shares of Wolfspeed, Inc. (NYSE:WOLF) have been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $14.86.

A number of equities research analysts recently issued reports on the stock. Piper Sandler lowered their target price on shares of Wolfspeed from $18.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. StockNews.com raised shares of Wolfspeed to a “sell” rating in a research note on Monday, January 6th. The Goldman Sachs Group dropped their price objective on Wolfspeed from $17.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Susquehanna reduced their target price on Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Finally, Bank of America lowered their price target on Wolfspeed from $9.50 to $6.00 and set an “underperform” rating for the company in a research report on Thursday, January 30th.

Institutional Trading of Wolfspeed

A number of hedge funds have recently made changes to their positions in WOLF. American Trust acquired a new stake in shares of Wolfspeed during the fourth quarter valued at about $68,000. PharVision Advisers LLC purchased a new position in Wolfspeed in the fourth quarter valued at about $72,000. Voloridge Investment Management LLC boosted its holdings in Wolfspeed by 0.7% in the fourth quarter. Voloridge Investment Management LLC now owns 1,915,695 shares of the company’s stock valued at $12,759,000 after purchasing an additional 12,660 shares during the last quarter. Wexford Capital LP acquired a new stake in Wolfspeed during the 4th quarter valued at approximately $83,000. Finally, Raiffeisen Bank International AG purchased a new stake in Wolfspeed during the 4th quarter worth approximately $1,782,000.

Wolfspeed Price Performance

Wolfspeed stock opened at $6.30 on Friday. The firm’s 50-day moving average is $5.88 and its two-hundred day moving average is $8.23. The company has a debt-to-equity ratio of 17.26, a current ratio of 3.15 and a quick ratio of 2.47. The stock has a market capitalization of $803.95 million, a P/E ratio of -0.82 and a beta of 1.50. Wolfspeed has a 12-month low of $4.66 and a 12-month high of $30.86.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. Equities analysts predict that Wolfspeed will post -4 earnings per share for the current 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.