Wolfspeed, Inc. (NYSE:WOLF - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.14, but opened at $5.39. Wolfspeed shares last traded at $5.70, with a volume of 4,756,830 shares trading hands.
Analysts Set New Price Targets
Several research analysts have weighed in on WOLF shares. Susquehanna cut their price target on Wolfspeed from $11.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, January 22nd. Canaccord Genuity Group reduced their price objective on Wolfspeed from $18.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Mizuho reduced their target price on shares of Wolfspeed from $10.00 to $6.00 and set an "underperform" rating on the stock in a research report on Tuesday, November 19th. JPMorgan Chase & Co. dropped their price target on shares of Wolfspeed from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group decreased their price objective 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. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $14.86.
View Our Latest Stock Report on Wolfspeed
Wolfspeed Price Performance
The company has a current ratio of 3.15, a quick ratio of 2.47 and a debt-to-equity ratio of 17.26. The stock has a 50-day simple moving average of $6.48 and a 200 day simple moving average of $9.24. The stock has a market capitalization of $885.67 million, a price-to-earnings ratio of -0.90 and a beta of 1.43.
Wolfspeed (NYSE:WOLF - Get Free Report) last announced its quarterly 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%. On average, equities research analysts forecast that Wolfspeed, Inc. will post -4.14 EPS for the current fiscal year.
Insider Activity
In other Wolfspeed news, Director Glenda Dorchak bought 3,592 shares of the stock in a transaction dated Friday, November 22nd. The stock was bought at an average cost of $8.33 per share, for a total transaction of $29,921.36. Following the completion of the purchase, the director now owns 18,688 shares in the company, valued at $155,671.04. This represents a 23.79 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.84% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of WOLF. Creative Planning bought a new stake in shares of Wolfspeed during the 3rd quarter valued at $224,000. Vontobel Holding Ltd. raised its holdings in Wolfspeed by 5.1% in the third quarter. Vontobel Holding Ltd. now owns 37,565 shares of the company's stock worth $364,000 after purchasing an additional 1,835 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Wolfspeed in the 3rd quarter valued at $193,000. Eastern Bank acquired a new stake in Wolfspeed during the 3rd quarter worth $27,000. Finally, Louisiana State Employees Retirement System lifted 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 acquiring an additional 25,200 shares in the last quarter.
About Wolfspeed
(
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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.
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