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

Shares of Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) have received a consensus rating of "Hold" from the sixteen brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $14.86.

Several brokerages recently commented on WOLF. The Goldman Sachs Group dropped their target price on shares of Wolfspeed from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Roth Mkm dropped their target price on shares of Wolfspeed from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Susquehanna dropped their target price 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. Canaccord Genuity Group dropped their price objective on shares of Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Finally, Bank of America lowered their target price on shares of Wolfspeed from $9.50 to $6.00 and set an "underperform" rating on the stock in a research note on Thursday, January 30th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WOLF. Creative Planning acquired a new position in Wolfspeed during the third quarter worth $224,000. Louisiana State Employees Retirement System boosted its holdings in Wolfspeed by 70.8% during the third quarter. Louisiana State Employees Retirement System now owns 60,800 shares of the company's stock worth $590,000 after purchasing an additional 25,200 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Wolfspeed by 430.5% during the third quarter. State of Alaska Department of Revenue now owns 71,819 shares of the company's stock worth $696,000 after purchasing an additional 58,282 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Wolfspeed by 1.3% during the third quarter. New York State Teachers Retirement System now owns 145,284 shares of the company's stock worth $1,409,000 after purchasing an additional 1,885 shares during the last quarter. Finally, Iridian Asset Management LLC CT boosted its holdings in Wolfspeed by 319.9% during the third quarter. Iridian Asset Management LLC CT now owns 521,158 shares of the company's stock worth $5,055,000 after purchasing an additional 397,057 shares during the last quarter.

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Wolfspeed Stock Up 1.6 %

Shares of Wolfspeed stock traded up $0.09 during midday trading on Wednesday, reaching $5.27. 16,769,953 shares of the company's stock traded hands, compared to its average volume of 9,913,244. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15. Wolfspeed has a 52 week low of $4.66 and a 52 week high of $30.86. The company's 50 day simple moving average is $6.25 and its 200 day simple moving average is $8.82. The company has a market cap of $672.41 million, a price-to-earnings ratio of -0.69 and a beta of 1.43.

Wolfspeed (NYSE:WOLF - Get Free Report) last posted its earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.20). Wolfspeed had a negative net margin of 125.96% and a negative return on equity of 70.84%. Equities analysts expect that Wolfspeed will post -4 earnings per share for the current fiscal year.

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.