Wolfspeed (NYSE:WOLF) Price Target Lowered to $27.00 at Mizuho

Wolfspeed (NYSE:WOLF) had its target price lowered by Mizuho from $30.00 to $27.00 in a research report sent to investors on Thursday, Benzinga reports. Mizuho currently has a neutral rating on the stock.

A number of other research analysts have also commented on WOLF. Deutsche Bank Aktiengesellschaft lowered their price target on Wolfspeed from $35.00 to $30.00 and set a hold rating on the stock in a report on Tuesday, April 23rd. Susquehanna decreased their price objective on shares of Wolfspeed from $35.00 to $25.00 and set a neutral rating for the company in a report on Tuesday, April 23rd. Wells Fargo & Company restated an equal weight rating and issued a $30.00 target price (down from $55.00) on shares of Wolfspeed in a research report on Wednesday, April 3rd. Piper Sandler cut their price objective on Wolfspeed from $55.00 to $45.00 and set an overweight rating for the company in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. lowered their target price on Wolfspeed from $43.00 to $35.00 and set a neutral rating on the stock in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wolfspeed has a consensus rating of Hold and a consensus price target of $37.27.

Wolfspeed Trading Up 7.5 %

Shares of WOLF opened at $25.33 on Thursday. The company has a debt-to-equity ratio of 5.55, a current ratio of 4.58 and a quick ratio of 4.58. Wolfspeed has a 1 year low of $20.63 and a 1 year high of $70.42. The firm has a fifty day moving average of $26.61 and a 200-day moving average of $32.05.

Wolfspeed (NYSE:WOLF) last announced its quarterly earnings results on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.10. Wolfspeed had a negative net margin of 96.12% and a negative return on equity of 27.37%. The company had revenue of $208.40 million for the quarter, compared to analyst estimates of $205.94 million. Equities analysts forecast that Wolfspeed will post -3.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its position in shares of Wolfspeed by 234.5% in the third quarter. Envestnet Asset Management Inc. now owns 168,103 shares of the company’s stock worth $6,405,000 after buying an additional 117,848 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Wolfspeed by 1.5% in the third quarter. Vanguard Group Inc. now owns 12,471,667 shares of the company’s stock worth $475,171,000 after buying an additional 188,236 shares during the last quarter. Boston Partners bought a new stake in shares of Wolfspeed during the 3rd quarter worth $2,032,000. UBS Group AG grew its stake in Wolfspeed by 57.5% in the 3rd quarter. UBS Group AG now owns 219,080 shares of the company’s stock valued at $8,347,000 after buying an additional 80,011 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its holdings in Wolfspeed by 86.7% in the 3rd quarter. UniSuper Management Pty Ltd now owns 703,822 shares of the company’s stock worth $26,816,000 after acquiring an additional 326,810 shares during the period.

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.