Wolfspeed, Inc. (NYSE:WOLF) Given Average Rating of “Hold” by Analysts

Shares of Wolfspeed, Inc. (NYSE:WOLF) have been given a consensus rating of “Hold” by the fifteen research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $37.27.

Several research analysts have commented on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $30.00 price objective (down from $55.00) on shares of Wolfspeed in a research report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on Wolfspeed from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their price target on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. William Blair downgraded shares of Wolfspeed from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 2nd. Finally, TD Cowen cut shares of Wolfspeed from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $25.00 in a research note on Thursday, May 2nd.

Wolfspeed Price Performance

WOLF stock opened at $25.93 on Thursday. The company’s 50-day moving average price is $26.62 and its two-hundred day moving average price is $31.95. The firm has a market cap of $3.26 billion, a P/E ratio of -4.01 and a beta of 1.64. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 5.55. Wolfspeed has a 12 month low of $20.63 and a 12 month high of $70.42.

Hedge Funds Weigh In On Wolfspeed

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Wolfspeed by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 12,629,335 shares of the company’s stock valued at $549,502,000 after purchasing an additional 157,668 shares during the period. Norges Bank acquired a new position in Wolfspeed in the fourth quarter valued at approximately $308,701,000. Artisan Partners Limited Partnership lifted its stake in Wolfspeed by 15.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,626,081 shares of the company’s stock valued at $114,261,000 after buying an additional 352,609 shares during the period. Primecap Management Co. CA grew its position in shares of Wolfspeed by 1.6% during the 4th quarter. Primecap Management Co. CA now owns 1,906,494 shares of the company’s stock worth $82,952,000 after buying an additional 29,700 shares during the period. Finally, FengHe Fund Management Pte. Ltd. increased its stake in shares of Wolfspeed by 438.9% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 1,431,200 shares of the company’s stock valued at $62,272,000 after acquiring an additional 1,165,600 shares in the last quarter.

About Wolfspeed

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.