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

Wolfspeed, Inc. (NYSE:WOLF) has been given a consensus recommendation of “Hold” by the sixteen analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research 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 1 year price objective among brokers that have covered the stock in the last year is $22.43.

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of Wolfspeed from $45.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Bank of America decreased their target price on Wolfspeed from $25.00 to $15.00 and set an “underperform” rating for the company in a research report on Friday, August 23rd. Susquehanna lowered their target price on Wolfspeed from $23.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft reduced their price target on Wolfspeed from $17.00 to $14.00 and set a “hold” rating on the stock in a research note on Thursday, August 22nd. Finally, Piper Sandler decreased their price objective on Wolfspeed from $35.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, August 22nd.

Institutional Investors Weigh In On Wolfspeed

A number of institutional investors have recently made changes to their positions in WOLF. New York State Teachers Retirement System lifted its position in Wolfspeed by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 143,499 shares of the company’s stock valued at $4,233,000 after acquiring an additional 500 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Wolfspeed by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 54,998 shares of the company’s stock worth $2,393,000 after purchasing an additional 540 shares during the last quarter. TFO Wealth Partners LLC lifted its holdings in shares of Wolfspeed by 57,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock valued at $25,000 after purchasing an additional 574 shares in the last quarter. Green Alpha Advisors LLC boosted its position in shares of Wolfspeed by 2.6% during the first quarter. Green Alpha Advisors LLC now owns 26,142 shares of the company’s stock valued at $771,000 after buying an additional 662 shares during the last quarter. Finally, Seven Eight Capital LP increased its holdings in Wolfspeed by 0.5% in the 1st quarter. Seven Eight Capital LP now owns 125,954 shares of the company’s stock worth $3,716,000 after buying an additional 675 shares in the last quarter.

Wolfspeed Price Performance

Shares of WOLF stock opened at $9.48 on Friday. The company has a debt-to-equity ratio of 6.99, a quick ratio of 3.85 and a current ratio of 4.51. Wolfspeed has a fifty-two week low of $7.28 and a fifty-two week high of $47.43. The firm has a market cap of $1.19 billion, a P/E ratio of -1.47 and a beta of 1.52. The business’s 50 day moving average price is $11.14 and its 200-day moving average price is $20.43.

Wolfspeed (NYSE:WOLF) last released its quarterly earnings results on Wednesday, August 21st. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.03). The company had revenue of $200.70 million during the quarter, compared to the consensus estimate of $201.11 million. Wolfspeed had a negative net margin of 107.93% and a negative return on equity of 37.76%. On average, equities research analysts anticipate that Wolfspeed will post -3.84 earnings per share for the current year.

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.