Wolfspeed, Inc. (NYSE:WOLF) Receives $13.15 Average Target Price from Brokerages

Wolfspeed, Inc. (NYSE:WOLF) has been assigned a consensus rating of “Hold” from the fifteen analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $13.15.

WOLF has been the topic of a number of recent research reports. Canaccord Genuity Group dropped their price objective on Wolfspeed from $18.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Bank of America cut their price objective on shares of Wolfspeed from $9.50 to $6.00 and set an “underperform” rating for the company in a research report on Thursday, January 30th. Piper Sandler decreased their target price on shares of Wolfspeed from $18.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. The Goldman Sachs Group cut their price target on shares of Wolfspeed from $15.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, Susquehanna decreased their price target on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd.

Wolfspeed Trading Up 14.5 %

Shares of WOLF opened at $2.47 on Thursday. The firm has a market cap of $315.96 million, a P/E ratio of -0.32 and a beta of 1.69. Wolfspeed has a fifty-two week low of $2.06 and a fifty-two week high of $30.86. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15. The business has a 50-day moving average of $4.64 and a 200 day moving average of $7.39.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its holdings in shares of Wolfspeed by 1,240.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company’s stock worth $26,000 after acquiring an additional 3,548 shares during the last quarter. R Squared Ltd purchased a new position in Wolfspeed in the 4th quarter worth $28,000. Steward Partners Investment Advisory LLC lifted its stake 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% during the fourth quarter. KBC Group NV now owns 6,064 shares of the company’s stock valued at $40,000 after buying an additional 2,629 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Wolfspeed by 38.1% during the fourth quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock valued at $44,000 after buying an additional 1,949 shares during 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.