Wolfspeed, Inc. (NYSE:WOLF) Receives $14.86 Average PT from Brokerages

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

A number of research firms recently weighed in on WOLF. Piper Sandler lowered their price objective on shares of Wolfspeed from $18.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Susquehanna lowered their price target on shares of Wolfspeed from $11.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. The Goldman Sachs Group cut their price objective on shares of Wolfspeed from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Canaccord Genuity Group reduced their price objective on shares of Wolfspeed from $18.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com raised Wolfspeed to a “sell” rating in a research report on Monday, January 6th.

Wolfspeed Stock Down 8.0 %

Shares of NYSE WOLF opened at $5.38 on Friday. Wolfspeed has a 52-week low of $4.66 and a 52-week high of $30.86. The firm has a market capitalization of $687.35 million, a price-to-earnings ratio of -0.70 and a beta of 1.50. The stock has a 50 day moving average price of $5.90 and a 200 day moving average price of $8.15. The company has a debt-to-equity ratio of 17.26, a quick ratio of 2.47 and a current ratio of 3.15.

Wolfspeed (NYSE:WOLF) last issued its 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 net margin of 125.96% and a negative return on equity of 70.84%. Sell-side analysts expect that Wolfspeed will post -4 earnings per share for the current year.

Hedge Funds Weigh In On Wolfspeed

Several hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its stake in Wolfspeed by 1,240.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,834 shares of the company’s stock worth $26,000 after purchasing an additional 3,548 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Wolfspeed during the fourth quarter valued at $28,000. Steward Partners Investment Advisory LLC raised its stake in Wolfspeed by 192.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,429 shares of the company’s stock worth $29,000 after acquiring an additional 2,912 shares during the last quarter. KBC Group NV raised its stake in Wolfspeed by 76.5% in the 4th quarter. KBC Group NV now owns 6,064 shares of the company’s stock worth $40,000 after acquiring an additional 2,629 shares during the last quarter. Finally, Allworth Financial LP lifted its position in Wolfspeed by 38.1% during the 4th quarter. Allworth Financial LP now owns 7,060 shares of the company’s stock worth $44,000 after acquiring an additional 1,949 shares during the period.

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.