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

Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) has been given a consensus recommendation of "Hold" by the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $13.15.

WOLF has been the topic of a number of recent research reports. StockNews.com raised Wolfspeed to a "sell" rating in a research report on Monday, January 6th. Canaccord Genuity Group decreased their price target on Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, January 30th. The Goldman Sachs Group dropped their target price 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. Piper Sandler reduced 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. Finally, Susquehanna lowered their target price on shares of Wolfspeed from $11.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, January 22nd.

Institutional Trading of Wolfspeed

Hedge funds have recently modified their holdings of the company. Allworth Financial LP raised its holdings in Wolfspeed by 38.1% during the 4th quarter. Allworth Financial LP now owns 7,060 shares of the company's stock valued at $44,000 after acquiring an additional 1,949 shares during the period. Sterling Capital Management LLC boosted its position in shares of Wolfspeed by 51.4% during the 4th quarter. Sterling Capital Management LLC now owns 7,463 shares of the company's stock valued at $50,000 after acquiring an additional 2,533 shares during the last quarter. Ground Swell Capital LLC grew its stake in Wolfspeed by 25.6% in the 4th quarter. Ground Swell Capital LLC now owns 12,827 shares of the company's stock worth $85,000 after buying an additional 2,611 shares in the last quarter. KBC Group NV grew 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 acquiring an additional 2,629 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Wolfspeed by 192.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company's stock valued at $29,000 after buying an additional 2,912 shares in the last quarter.

Wolfspeed Stock Performance

Shares of WOLF stock traded down $0.02 during trading hours on Thursday, reaching $2.45. 14,461,365 shares of the company's stock were exchanged, compared to its average volume of 12,866,310. Wolfspeed has a fifty-two week low of $2.06 and a fifty-two week high of $30.86. The stock has a market capitalization of $312.90 million, a P/E ratio of -0.32 and a beta of 1.69. The business has a fifty day moving average price of $4.59 and a 200-day moving average price of $7.34. The company has a quick ratio of 2.47, a current ratio of 3.15 and a debt-to-equity ratio of 17.26.

Wolfspeed (NYSE:WOLF - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share (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%. Analysts predict that Wolfspeed will post -4 EPS for the current fiscal 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.