Brokerages Set Wolfspeed, Inc. (NYSE:WOLF) Target Price at $13.15

Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) has received a consensus recommendation of "Hold" from the fifteen ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $13.15.

A number of equities research analysts have recently weighed in on WOLF shares. Canaccord Genuity Group dropped their price objective on Wolfspeed from $18.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. Susquehanna reduced their price target on shares of Wolfspeed from $11.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 22nd. The Goldman Sachs Group dropped their price objective 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. StockNews.com raised Wolfspeed to a "sell" rating in a research report on Monday, January 6th. Finally, Bank of America lowered their target price on shares of Wolfspeed from $9.50 to $6.00 and set an "underperform" rating for the company in a research note on Thursday, January 30th.

Wolfspeed Stock Performance

Shares of NYSE WOLF traded up $0.31 during trading on Thursday, reaching $2.47. 20,854,200 shares of the company traded hands, compared to its average volume of 12,832,201. The stock has a market cap of $315.96 million, a P/E ratio of -0.32 and a beta of 1.69. The firm's fifty day simple moving average is $4.64 and its 200 day simple moving average is $7.41. The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26. Wolfspeed has a 12-month low of $2.06 and a 12-month high of $30.86.

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 the consensus estimate of ($0.90) by ($0.20). Wolfspeed had a negative return on equity of 70.84% and a negative net margin of 125.96%. As a group, research analysts anticipate that Wolfspeed will post -4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of WOLF. Jones Financial Companies Lllp increased its position in Wolfspeed by 1,240.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company's stock worth $26,000 after purchasing an additional 3,548 shares during the period. R Squared Ltd acquired a new position in Wolfspeed in the 4th quarter valued at about $28,000. Steward Partners Investment Advisory LLC increased its stake in Wolfspeed by 192.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company's stock valued at $29,000 after purchasing an additional 2,912 shares during the last quarter. KBC Group NV increased its position in Wolfspeed by 76.5% during the fourth quarter. KBC Group NV now owns 6,064 shares of the company's stock worth $40,000 after purchasing an additional 2,629 shares during the last quarter. Finally, Allworth Financial LP increased its stake in Wolfspeed by 38.1% during the fourth quarter. Allworth Financial LP now owns 7,060 shares of the company's stock worth $44,000 after acquiring an additional 1,949 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.