Deutsche Bank Aktiengesellschaft Lowers Wolfspeed (NYSE:WOLF) Price Target to $30.00

Wolfspeed (NYSE:WOLF) had its price target cut by research analysts at Deutsche Bank Aktiengesellschaft from $35.00 to $30.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 28.48% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on WOLF. JPMorgan Chase & Co. dropped their price target on shares of Wolfspeed from $43.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Mizuho assumed coverage on shares of Wolfspeed in a research report on Friday, April 5th. They issued a “neutral” rating and a $30.00 target price on the stock. Susquehanna reduced their price target on shares of Wolfspeed from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday. Wells Fargo & Company reiterated an “equal weight” rating and issued a $30.00 price objective (down from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. Finally, Piper Sandler reduced their target price on Wolfspeed from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $41.88.

Wolfspeed Stock Performance

NYSE WOLF traded down $0.59 during mid-day trading on Tuesday, reaching $23.35. 3,119,220 shares of the stock were exchanged, compared to its average volume of 4,744,512. Wolfspeed has a 1 year low of $21.85 and a 1 year high of $70.42. The company has a debt-to-equity ratio of 4.50, a quick ratio of 4.58 and a current ratio of 5.13. The business’s 50 day moving average is $26.81 and its 200-day moving average is $32.53. The company has a market capitalization of $2.94 billion, a P/E ratio of -3.84 and a beta of 1.66.

Wolfspeed (NYSE:WOLF) last posted its earnings results on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.10. The firm had revenue of $208.40 million for the quarter, compared to analysts’ expectations of $205.94 million. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. On average, equities research analysts forecast that Wolfspeed will post -3.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Darren R. Jackson purchased 10,000 shares of Wolfspeed stock in a transaction dated Friday, February 2nd. The shares were acquired at an average price of $25.80 per share, for a total transaction of $258,000.00. Following the acquisition, the director now directly owns 49,021 shares in the company, valued at $1,264,741.80. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Wolfspeed

Several institutional investors have recently made changes to their positions in WOLF. TFO Wealth Partners LLC grew its position in Wolfspeed by 57,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock worth $25,000 after acquiring an additional 574 shares during the period. Independence Bank of Kentucky grew its holdings in shares of Wolfspeed by 97.0% during the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock worth $31,000 after purchasing an additional 350 shares during the period. Fifth Third Bancorp increased its position in shares of Wolfspeed by 56.9% during the 1st quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock worth $37,000 after purchasing an additional 452 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Wolfspeed in the 4th quarter valued at about $48,000. Finally, GAMMA Investing LLC acquired a new position in Wolfspeed in the fourth quarter valued at about $56,000.

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.