Wolfspeed (NYSE:WOLF) Trading Down 7.5% - What's Next?

Wolfspeed, Inc. (NYSE:WOLF - Get Free Report)'s stock price fell 7.5% during trading on Thursday . The company traded as low as $5.56 and last traded at $5.41. 16,681,225 shares were traded during trading, a decline of 16% from the average session volume of 19,965,092 shares. The stock had previously closed at $5.85.

Analysts Set New Price Targets

WOLF has been the subject of several recent research reports. Susquehanna dropped 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. StockNews.com upgraded shares of Wolfspeed to a "sell" rating in a report on Monday, January 6th. Canaccord Genuity Group reduced their price objective on shares of Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Bank of America cut their price target on Wolfspeed from $9.50 to $6.00 and set an "underperform" rating for the company in a report on Thursday, January 30th. Finally, The Goldman Sachs Group lowered their price objective on Wolfspeed from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $14.86.

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Wolfspeed Trading Up 17.2 %

The firm has a fifty day moving average of $5.76 and a 200-day moving average of $8.09. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15. The stock has a market capitalization of $387.61 million, a price-to-earnings ratio of -0.40 and a beta of 1.50.

Wolfspeed (NYSE:WOLF - Get Free Report) last announced its earnings results 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%. As a group, equities analysts predict that Wolfspeed, Inc. will post -4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wolfspeed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WOLF. Vanguard Group Inc. boosted its stake in shares of Wolfspeed by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 15,924,290 shares of the company's stock valued at $106,056,000 after buying an additional 299,304 shares during the last quarter. Primecap Management Co. CA boosted its stake in Wolfspeed by 2.7% during the 4th quarter. Primecap Management Co. CA now owns 6,519,164 shares of the company's stock valued at $43,418,000 after acquiring an additional 169,984 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in Wolfspeed by 4.3% during the 4th quarter. Neuberger Berman Group LLC now owns 2,506,626 shares of the company's stock worth $16,701,000 after acquiring an additional 104,042 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Wolfspeed by 813.6% in the 3rd quarter. Two Sigma Advisers LP now owns 2,458,600 shares of the company's stock worth $23,848,000 after purchasing an additional 2,189,500 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its stake in shares of Wolfspeed by 94.2% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,050,778 shares of the company's stock valued at $13,658,000 after purchasing an additional 995,020 shares in 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.