Wolfspeed, Inc. (NYSE:WOLF) Receives $14.86 Consensus Target Price from Analysts

Shares of Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) have received an average recommendation of "Hold" from the sixteen analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $14.86.

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Wolfspeed from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. Bank of America dropped their target price on shares of Wolfspeed from $9.50 to $6.00 and set an "underperform" rating for the company in a report on Thursday. Piper Sandler reduced their price objective on shares of Wolfspeed from $18.00 to $10.00 and set an "overweight" rating on the stock in a research report on Thursday. Mizuho reduced their target price on Wolfspeed from $10.00 to $6.00 and set an "underperform" rating on the stock in a report on Tuesday, November 19th. Finally, StockNews.com raised shares of Wolfspeed to a "sell" rating in a research note on Monday, January 6th.

Wolfspeed Stock Up 0.3 %

NYSE:WOLF traded up $0.02 on Friday, reaching $6.11. 27,512,456 shares of the stock traded hands, compared to its average volume of 16,988,954. Wolfspeed has a 12 month low of $4.66 and a 12 month high of $34.63. The company has a market capitalization of $779.92 million, a price-to-earnings ratio of -0.80 and a beta of 1.43. The company's fifty day simple moving average is $7.44 and its 200 day simple moving average is $10.39. The company has a current ratio of 3.14, a quick ratio of 2.54 and a debt-to-equity ratio of 9.82.

Wolfspeed (NYSE:WOLF - Get Free Report) 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 60.94% and a negative net margin of 125.96%. Equities analysts predict that Wolfspeed will post -4.2 EPS for the current fiscal year.

Insider Transactions at Wolfspeed

In related news, Chairman Thomas H. Werner purchased 37,500 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average cost of $6.53 per share, for a total transaction of $244,875.00. Following the acquisition, the chairman now owns 108,549 shares of the company's stock, valued at $708,824.97. The trade was a 52.78 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Glenda Dorchak bought 3,592 shares of the business's stock in a transaction on Friday, November 22nd. The stock was bought at an average price of $8.33 per share, for a total transaction of $29,921.36. Following the purchase, the director now directly owns 18,688 shares of the company's stock, valued at $155,671.04. The trade was a 23.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 78,067 shares of company stock worth $524,747. Insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Wolfspeed

Several institutional investors have recently bought and sold shares of WOLF. Primecap Management Co. CA raised its position in shares of Wolfspeed by 5.0% in the 3rd quarter. Primecap Management Co. CA now owns 6,349,180 shares of the company's stock valued at $61,587,000 after purchasing an additional 303,870 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Wolfspeed by 813.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,458,600 shares of the company's stock worth $23,848,000 after acquiring an additional 2,189,500 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Wolfspeed by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 871,191 shares of the company's stock valued at $8,451,000 after buying an additional 21,143 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Wolfspeed by 1,158.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 833,201 shares of the company's stock worth $8,082,000 after purchasing an additional 766,971 shares during the last quarter. Finally, Iridian Asset Management LLC CT lifted its position in shares of Wolfspeed by 56.6% in the fourth quarter. Iridian Asset Management LLC CT now owns 816,183 shares of the company's stock valued at $5,436,000 after acquiring an additional 295,025 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.