Analysts Set Wolfspeed, Inc. (NYSE:WOLF) Price Target at $14.86

Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) has received a consensus recommendation of "Hold" from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $14.86.

WOLF has been the subject of several recent research reports. Canaccord Genuity Group lowered their price objective on Wolfspeed from $18.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. Susquehanna lowered their price objective on Wolfspeed from $11.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, January 22nd. The Goldman Sachs Group lowered their price target on Wolfspeed from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. Mizuho lowered their price target on Wolfspeed from $10.00 to $6.00 and set an "underperform" rating for the company in a research report on Tuesday, November 19th. Finally, Piper Sandler lowered their price target on Wolfspeed from $18.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th.

Wolfspeed Trading Down 2.0 %

NYSE:WOLF traded down $0.12 during trading hours on Wednesday, hitting $5.78. The company had a trading volume of 48,880,134 shares, compared to its average volume of 20,230,729. The company has a debt-to-equity ratio of 17.26, a current ratio of 3.15 and a quick ratio of 2.47. The company has a market capitalization of $738.56 million, a PE ratio of -0.75 and a beta of 1.43. The stock has a 50-day moving average price of $6.32 and a 200 day moving average price of $8.96. Wolfspeed has a 52 week low of $4.66 and a 52 week high of $30.86.

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Wolfspeed (NYSE:WOLF - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The company reported ($1.10) EPS 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%. On average, equities research analysts predict that Wolfspeed will post -4 EPS for the current fiscal year.

Institutional Investors Weigh In On Wolfspeed

A number of large investors have recently made changes to their positions in WOLF. Jones Financial Companies Lllp grew its stake in shares of Wolfspeed by 1,240.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company's stock valued at $26,000 after purchasing an additional 3,548 shares during the period. R Squared Ltd bought a new stake in shares of Wolfspeed during the 4th quarter valued at about $28,000. Steward Partners Investment Advisory LLC grew its stake 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 purchasing an additional 2,912 shares during the period. KBC Group NV grew its stake in shares of Wolfspeed by 76.5% during the 4th quarter. KBC Group NV now owns 6,064 shares of the company's stock valued at $40,000 after purchasing an additional 2,629 shares during the period. Finally, Allworth Financial LP grew its stake in shares of 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 purchasing an additional 1,949 shares during the period.

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.