Wolfspeed, Inc. (NYSE:WOLF) Receives $9.80 Average Price Target from Analysts

Wolfspeed, Inc. (NYSE:WOLF) has earned an average recommendation of “Reduce” from the ten analysts that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $9.2222.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Wolfspeed in a research note on Saturday, September 27th.

Wolfspeed Price Performance

NYSE:WOLF opened at $32.29 on Thursday. The firm has a market capitalization of $834.45 million and a P/E ratio of -2.87. Wolfspeed has a 1-year low of $8.05 and a 1-year high of $36.60. The company’s fifty day moving average price is $8.67 and its 200-day moving average price is $4.33.

Institutional Trading of Wolfspeed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. grew its position in Wolfspeed by 21.5% during the third quarter. Vontobel Holding Ltd. now owns 582,845 shares of the company’s stock valued at $16,669,000 after buying an additional 103,282 shares during the period. Marex Group plc acquired a new stake in Wolfspeed during the second quarter valued at $44,000. GMT Capital Corp grew its position in Wolfspeed by 42.9% during the second quarter. GMT Capital Corp now owns 1,211,332 shares of the company’s stock valued at $483,000 after buying an additional 363,784 shares during the period. Engineers Gate Manager LP acquired a new stake in Wolfspeed during the second quarter valued at $108,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Wolfspeed during the second quarter valued at $34,000.

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.