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

Shares of Wolfspeed, Inc. (NYSE:WOLFGet Free Report) have been assigned an average recommendation of “Hold” from the fourteen analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $35.43.

Several equities research analysts have issued reports on WOLF shares. Wells Fargo & Company reissued an “equal weight” rating and issued a $30.00 price target (down previously from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. JPMorgan Chase & Co. dropped their price target on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Mizuho lifted their price objective on Wolfspeed from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, June 18th. William Blair cut Wolfspeed from an “outperform” rating to a “market perform” rating in a report on Thursday, May 2nd. Finally, Citigroup decreased their price target on Wolfspeed from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd.

Get Our Latest Stock Report on WOLF

Insider Activity at Wolfspeed

In related news, Director Marvin Riley acquired 1,866 shares of the stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $27.05 per share, for a total transaction of $50,475.30. Following the transaction, the director now owns 13,297 shares of the company’s stock, valued at approximately $359,683.85. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wolfspeed

Hedge funds and other institutional investors have recently made changes to their positions in the company. TFO Wealth Partners LLC boosted its holdings in Wolfspeed by 57,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock valued at $25,000 after acquiring an additional 574 shares during the last quarter. Independence Bank of Kentucky boosted its stake in shares of Wolfspeed by 97.0% in the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock valued at $31,000 after purchasing an additional 350 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Wolfspeed during the 4th quarter worth approximately $48,000. Fifth Third Bancorp raised its stake in shares of Wolfspeed by 56.9% during the first quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock worth $37,000 after buying an additional 452 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in Wolfspeed in the fourth quarter valued at approximately $56,000.

Wolfspeed Stock Up 1.1 %

NYSE WOLF opened at $23.23 on Friday. Wolfspeed has a twelve month low of $20.63 and a twelve month high of $70.42. The stock has a market cap of $2.92 billion, a PE ratio of -3.60 and a beta of 1.60. The firm has a 50-day simple moving average of $25.67 and a 200 day simple moving average of $29.75. The company has a debt-to-equity ratio of 5.55, a quick ratio of 4.00 and a current ratio of 4.58.

Wolfspeed (NYSE:WOLFGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.82) by $0.03. The company had revenue of $200.70 million for the quarter, compared to analyst estimates of $201.49 million. Wolfspeed had a negative return on equity of 27.37% and a negative net margin of 96.12%. On average, research analysts forecast that Wolfspeed will post -3.18 EPS for the current year.

About Wolfspeed

(Get Free Report

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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Analyst Recommendations for Wolfspeed (NYSE:WOLF)

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