Wolfspeed, Inc. (NYSE:WOLF) Given Consensus Recommendation of "Hold" by Brokerages

Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) has earned an average rating of "Hold" from the sixteen analysts that are covering the company, 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 1-year target price among analysts that have issued a report on the stock in the last year is $14.86.

Several equities research analysts have recently weighed in on the company. Piper Sandler reduced their price objective on Wolfspeed from $18.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Susquehanna decreased their price target on Wolfspeed from $11.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, January 22nd. Bank of America cut their price objective on Wolfspeed from $9.50 to $6.00 and set an "underperform" rating on the stock in a report on Thursday, January 30th. The Goldman Sachs Group reduced their price target on shares of Wolfspeed from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group decreased their target price on Wolfspeed from $18.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, January 30th.

Institutional Investors Weigh In On Wolfspeed

A number of large investors have recently bought and sold shares of WOLF. American Trust acquired a new stake in shares of Wolfspeed in the fourth quarter worth about $68,000. PharVision Advisers LLC bought a new position in shares of Wolfspeed in the 4th quarter valued at approximately $72,000. Voloridge Investment Management LLC lifted its holdings in Wolfspeed by 0.7% in the 4th quarter. Voloridge Investment Management LLC now owns 1,915,695 shares of the company's stock worth $12,759,000 after purchasing an additional 12,660 shares during the last quarter. Wexford Capital LP bought a new stake in Wolfspeed during the fourth quarter worth approximately $83,000. Finally, Raiffeisen Bank International AG acquired a new position in Wolfspeed during the fourth quarter valued at approximately $1,782,000.

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Wolfspeed Price Performance

Wolfspeed stock traded down $0.26 during midday trading on Friday, hitting $6.15. The company's stock had a trading volume of 14,116,569 shares, compared to its average volume of 10,820,053. Wolfspeed has a 12 month low of $4.66 and a 12 month high of $30.86. The company has a quick ratio of 2.47, a current ratio of 3.15 and a debt-to-equity ratio of 17.26. The company has a market capitalization of $785.43 million, a PE ratio of -0.80 and a beta of 1.50. The stock's 50-day moving average price is $5.94 and its 200-day moving average price is $8.19.

Wolfspeed (NYSE:WOLF - Get Free Report) last released its 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 return on equity of 70.84% and a negative net margin of 125.96%. Analysts anticipate that Wolfspeed will post -4 earnings per share 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.