Wolfspeed (NYSE:WOLF – Free Report) had its price target trimmed by Susquehanna from $25.00 to $23.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.
Several other research firms have also recently issued reports on WOLF. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wolfspeed from $35.00 to $30.00 and set a hold rating for the company in a research report on Tuesday, April 23rd. TD Cowen cut Wolfspeed from a buy rating to a hold rating and dropped their price objective for the stock from $40.00 to $25.00 in a research note on Thursday. Roth Mkm restated a buy rating and set a $50.00 price objective on shares of Wolfspeed in a report on Tuesday, April 30th. William Blair cut Wolfspeed from an outperform rating to a market perform rating in a report on Thursday. Finally, Wells Fargo & Company reissued an equal weight rating and set a $30.00 price target (down previously from $55.00) on shares of Wolfspeed in a research report on Wednesday, April 3rd. One 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. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $37.27.
Check Out Our Latest Report on Wolfspeed
Wolfspeed Stock Up 7.5 %
Institutional Trading of Wolfspeed
Institutional investors have recently modified their holdings of the company. TFO Wealth Partners LLC grew its stake in Wolfspeed by 57,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $25,000 after buying an additional 574 shares during the last quarter. Independence Bank of Kentucky grew its stake in shares of Wolfspeed by 97.0% during the fourth quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after acquiring an additional 350 shares during the last quarter. Fifth Third Bancorp grew 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 acquiring an additional 452 shares during the last quarter. Rakuten Securities Inc. acquired a new position in shares of Wolfspeed during the fourth quarter valued at about $48,000. Finally, GAMMA Investing LLC purchased a new position in shares of Wolfspeed in the 4th quarter valued at approximately $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.
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