Wolfspeed (NYSE:WOLF) Stock Rating Reaffirmed by Roth Mkm

Wolfspeed (NYSE:WOLF)‘s stock had its “buy” rating reiterated by stock analysts at Roth Mkm in a report issued on Tuesday, Benzinga reports. They presently have a $50.00 price objective on the stock. Roth Mkm’s target price suggests a potential upside of 91.57% from the stock’s previous close.

A number of other equities analysts also recently issued reports on WOLF. Piper Sandler dropped their price objective on shares of Wolfspeed from $55.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Susquehanna dropped their price target on shares of Wolfspeed from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. reduced their price objective on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Wells Fargo & Company reiterated an “equal weight” rating and set a $30.00 target price (down from $55.00) on shares of Wolfspeed in a research report on Wednesday, April 3rd. Finally, Mizuho began coverage on Wolfspeed in a research report on Friday, April 5th. They issued a “neutral” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.00.

Wolfspeed Price Performance

NYSE WOLF opened at $26.10 on Tuesday. Wolfspeed has a one year low of $21.85 and a one year high of $70.42. The stock has a 50-day moving average of $26.60 and a 200 day moving average of $32.22. The company has a debt-to-equity ratio of 4.50, a quick ratio of 4.58 and a current ratio of 5.13. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -4.29 and a beta of 1.66.

Wolfspeed (NYSE:WOLF) last issued its earnings results on Wednesday, January 31st. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.10. Wolfspeed had a negative net margin of 87.35% and a negative return on equity of 19.35%. The company had revenue of $208.40 million for the quarter, compared to analysts’ expectations of $205.94 million. On average, sell-side analysts forecast that Wolfspeed will post -3.05 EPS for the current year.

Insider Activity

In other news, Director Darren R. Jackson acquired 10,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were acquired at an average price of $25.80 per share, for a total transaction of $258,000.00. Following the completion of the transaction, the director now directly owns 49,021 shares of the company’s stock, valued at approximately $1,264,741.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of Wolfspeed

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TFO Wealth Partners LLC increased its position 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 worth $25,000 after acquiring an additional 574 shares during the period. Independence Bank of Kentucky grew its stake in Wolfspeed by 97.0% in the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after purchasing an additional 350 shares in the last quarter. Fifth Third Bancorp increased its holdings in Wolfspeed by 56.9% during the 1st quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock worth $37,000 after purchasing an additional 452 shares during the period. Rakuten Securities Inc. bought a new stake in Wolfspeed during the 4th quarter valued at $48,000. Finally, GAMMA Investing LLC bought a new stake in Wolfspeed during the 4th quarter valued at $56,000.

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.