Wolfspeed (NYSE:WOLF) Price Target Cut to $25.00 by Analysts at Susquehanna

Wolfspeed (NYSE:WOLF) had its price target decreased by equities researchers at Susquehanna from $35.00 to $25.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s target price points to a potential upside of 4.47% from the company’s current price.

WOLF has been the topic of several other research reports. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $30.00 price target (down previously from $55.00) on shares of Wolfspeed in a report on Wednesday, April 3rd. Mizuho began coverage on shares of Wolfspeed in a report on Friday, April 5th. They issued a “neutral” rating and a $30.00 target price for the company. Piper Sandler lowered their price objective on Wolfspeed from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. lowered their price target on Wolfspeed from $43.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $43.00.

Wolfspeed Trading Up 7.9 %

Shares of Wolfspeed stock opened at $23.93 on Tuesday. The company has a debt-to-equity ratio of 4.50, a current ratio of 5.13 and a quick ratio of 4.58. The stock has a market capitalization of $3.01 billion, a PE ratio of -3.94 and a beta of 1.66. Wolfspeed has a 1-year low of $21.85 and a 1-year high of $70.42. The company’s fifty day simple moving average is $26.81 and its 200-day simple moving average is $32.53.

Wolfspeed (NYSE:WOLF) last posted its quarterly earnings data on Wednesday, January 31st. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.10. Wolfspeed had a negative return on equity of 19.35% and a negative net margin of 87.35%. The firm had revenue of $208.40 million for the quarter, compared to the consensus estimate of $205.94 million. As a group, equities analysts anticipate that Wolfspeed will post -3.05 earnings per share for the current year.

Insiders Place Their Bets

In other Wolfspeed news, Director Darren R. Jackson bought 10,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were purchased at an average price of $25.80 per share, with a total value of $258,000.00. Following the completion of the purchase, the director now owns 49,021 shares in the company, valued at approximately $1,264,741.80. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.85% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. State of Michigan Retirement System increased its position in shares of Wolfspeed by 3.0% during the first quarter. State of Michigan Retirement System now owns 30,922 shares of the company’s stock worth $912,000 after acquiring an additional 900 shares during the period. Sunbelt Securities Inc. grew its holdings in Wolfspeed by 34.7% during the 1st quarter. Sunbelt Securities Inc. now owns 2,724 shares of the company’s stock worth $80,000 after acquiring an additional 702 shares in the last quarter. Doliver Advisors LP increased its position in Wolfspeed by 11.4% during the 1st quarter. Doliver Advisors LP now owns 15,320 shares of the company’s stock valued at $452,000 after purchasing an additional 1,563 shares during the period. Perpetual Ltd raised its holdings in shares of Wolfspeed by 52.1% in the 1st quarter. Perpetual Ltd now owns 35,043 shares of the company’s stock valued at $1,002,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Green Alpha Advisors LLC increased its holdings in shares of Wolfspeed by 2.6% in the 1st quarter. Green Alpha Advisors LLC now owns 26,142 shares of the company’s stock valued at $771,000 after acquiring an additional 662 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.