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

Shares of Wolfspeed, Inc. (NYSE:WOLF) have been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $14.86.

A number of equities research analysts have commented on the company. Roth Mkm reduced their price objective on Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Bank of America reduced their price objective on Wolfspeed from $9.50 to $6.00 and set an “underperform” rating for the company in a research note on Thursday, January 30th. Mizuho reduced their price objective on Wolfspeed from $10.00 to $6.00 and set an “underperform” rating for the company in a research note on Tuesday, November 19th. StockNews.com raised Wolfspeed to a “sell” rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group reduced their price objective on Wolfspeed from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, January 30th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WOLF. Jones Financial Companies Lllp boosted its position in Wolfspeed by 1,240.6% in the fourth quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company’s stock worth $26,000 after purchasing an additional 3,548 shares during the last quarter. R Squared Ltd purchased a new position in Wolfspeed in the fourth quarter worth $28,000. Steward Partners Investment Advisory LLC boosted its position in Wolfspeed by 192.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company’s stock worth $29,000 after purchasing an additional 2,912 shares during the last quarter. KBC Group NV boosted its position in Wolfspeed by 76.5% in the fourth quarter. KBC Group NV now owns 6,064 shares of the company’s stock worth $40,000 after purchasing an additional 2,629 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Wolfspeed by 38.1% in the fourth quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock worth $44,000 after purchasing an additional 1,949 shares during the last quarter.

Wolfspeed Trading Down 9.4 %

Shares of WOLF stock opened at $5.74 on Wednesday. The company has a market cap of $732.43 million, a P/E ratio of -0.75 and a beta of 1.43. The stock has a 50 day simple moving average of $6.37 and a two-hundred day simple moving average of $9.01. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15. Wolfspeed has a fifty-two week low of $4.66 and a fifty-two week high of $30.86.

Wolfspeed (NYSE:WOLF) last issued its earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. Research analysts forecast that Wolfspeed will post -4 earnings per share for the current year.

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.