Wolfspeed, Inc. (NYSE:WOLF) Receives $17.36 Average PT from Analysts

Wolfspeed, Inc. (NYSE:WOLF) has earned a consensus recommendation of “Hold” from the sixteen analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $17.21.

WOLF has been the subject of several recent analyst reports. Morgan Stanley raised their price target on Wolfspeed from $10.00 to $15.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. TD Cowen decreased their target price on Wolfspeed from $25.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, August 22nd. Roth Mkm decreased their target price on Wolfspeed from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Mizuho decreased their target price on Wolfspeed from $10.00 to $6.00 and set an “underperform” rating for the company in a report on Tuesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price (down previously from $20.00) on shares of Wolfspeed in a report on Thursday, November 7th.

Wolfspeed Price Performance

Shares of NYSE WOLF opened at $6.44 on Monday. The company has a debt-to-equity ratio of 9.82, a quick ratio of 2.54 and a current ratio of 3.14. The company has a market cap of $822.47 million, a PE ratio of -1.08 and a beta of 1.46. The business has a 50-day simple moving average of $10.74 and a two-hundred day simple moving average of $17.01. Wolfspeed has a fifty-two week low of $6.27 and a fifty-two week high of $47.43.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings results on Wednesday, August 21st. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.03). The business had revenue of $200.70 million during the quarter, compared to analyst estimates of $201.11 million. Wolfspeed had a negative return on equity of 49.86% and a negative net margin of 93.31%. As a group, equities analysts expect that Wolfspeed will post -4.13 EPS for the current fiscal year.

Institutional Trading of Wolfspeed

A number of institutional investors and hedge funds have recently made changes to their positions in WOLF. Mather Group LLC. increased its position in shares of Wolfspeed by 385.5% during the second quarter. Mather Group LLC. now owns 1,175 shares of the company’s stock worth $27,000 after purchasing an additional 933 shares in the last quarter. Eastern Bank purchased a new stake in shares of Wolfspeed during the third quarter worth approximately $27,000. GAMMA Investing LLC increased its position in shares of Wolfspeed by 416.4% during the third quarter. GAMMA Investing LLC now owns 4,544 shares of the company’s stock worth $44,000 after purchasing an additional 3,664 shares in the last quarter. Signaturefd LLC increased its position in shares of Wolfspeed by 284.3% during the second quarter. Signaturefd LLC now owns 2,087 shares of the company’s stock worth $48,000 after purchasing an additional 1,544 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Wolfspeed by 64.8% during the first quarter. Advisors Asset Management Inc. now owns 1,757 shares of the company’s stock worth $52,000 after buying an additional 691 shares during the last quarter.

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.