Wolfspeed, Inc. (NYSE:WOLF) Receives Average Rating of “Hold” from Brokerages

Wolfspeed, Inc. (NYSE:WOLF) has been given an average recommendation of “Hold” by the sixteen analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.86.

Several analysts have commented on the company. 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 report on Thursday, January 30th. Bank of America dropped their price target on shares of Wolfspeed from $9.50 to $6.00 and set an “underperform” rating for the company in a research report on Thursday, January 30th. Piper Sandler decreased their price target on shares of Wolfspeed from $18.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. StockNews.com upgraded Wolfspeed to a “sell” rating in a report on Monday, January 6th. Finally, Susquehanna reduced their target price on Wolfspeed from $11.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd.

Institutional Investors Weigh In On Wolfspeed

Several hedge funds have recently modified their holdings of WOLF. American Trust purchased a new stake in shares of Wolfspeed during the fourth quarter valued at approximately $68,000. PharVision Advisers LLC purchased a new stake in Wolfspeed during the 4th quarter worth $72,000. Voloridge Investment Management LLC lifted its holdings in Wolfspeed by 0.7% in the 4th quarter. Voloridge Investment Management LLC now owns 1,915,695 shares of the company’s stock worth $12,759,000 after buying an additional 12,660 shares in the last quarter. Wexford Capital LP purchased a new position in Wolfspeed in the 4th quarter valued at about $83,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of Wolfspeed during the fourth quarter valued at about $1,782,000.

Wolfspeed Stock Performance

NYSE:WOLF opened at $2.61 on Friday. 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 firm has a market cap of $332.69 million, a PE ratio of -0.34 and a beta of 1.50. The firm has a 50 day simple moving average of $5.82 and a 200-day simple moving average of $8.12. Wolfspeed has a 1-year low of $2.54 and a 1-year high of $30.86.

Wolfspeed (NYSE:WOLF) last issued its quarterly earnings results on Wednesday, January 29th. The company reported ($1.10) earnings per share 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 analysts expect that Wolfspeed will post -4 EPS for the current 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.