Wolfspeed (NYSE:WOLF) Price Target Lowered to $20.00 at Susquehanna

Wolfspeed (NYSE:WOLF) had its price target dropped by stock analysts at Susquehanna from $30.00 to $20.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Susquehanna’s target price suggests a potential downside of 0.95% from the company’s current price.

A number of other research firms also recently weighed in on WOLF. Wall Street Zen upgraded Wolfspeed to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Wolfspeed in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Wolfspeed has a consensus rating of “Reduce” and an average price target of $8.83.

Wolfspeed Stock Up 3.7%

WOLF stock opened at $20.19 on Thursday. The firm has a market cap of $522.81 million and a PE ratio of -31.04. The business has a 50 day moving average of $19.20 and a 200-day moving average of $13.60. Wolfspeed has a 12-month low of $8.05 and a 12-month high of $36.60.

Wolfspeed (NYSE:WOLF) last posted its quarterly earnings data on Wednesday, October 29th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.05. The company had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $195.37 million. On average, research analysts expect that Wolfspeed will post -4 earnings per share for the current year.

Institutional Investors Weigh In On Wolfspeed

A number of large investors have recently added to or reduced their stakes in the stock. Andar Capital Management HK Ltd purchased a new position in shares of Wolfspeed in the 3rd quarter worth $48,000. Eastern Bank bought a new position in shares of Wolfspeed in the fourth quarter worth about $46,000. Capital Investment Advisory Services LLC lifted its stake in Wolfspeed by 13.3% in the 4th quarter. Capital Investment Advisory Services LLC now owns 15,174 shares of the company’s stock worth $264,000 after purchasing an additional 1,783 shares in the last quarter. Polymer Capital Management HK LTD bought a new position in shares of Wolfspeed during the 3rd quarter valued at about $582,000. Finally, Mariner Investment Group LLC bought a new stake in shares of Wolfspeed in the third quarter worth about $715,000.

Wolfspeed Company Profile

Wolfspeed, Inc (NYSE: WOLF) is a leading developer and manufacturer of silicon carbide (SiC) and gallium nitride (GaN) semiconductor materials and devices. The company’s product portfolio addresses high-growth markets such as electric vehicles, renewable energy, fast-charging infrastructure, aerospace and defense, and telecommunications. By leveraging proprietary materials and device designs, Wolfspeed delivers solutions that offer improved energy efficiency, higher power density and greater thermal performance compared to conventional silicon-based semiconductors.

Founded as part of Cree, Inc and spun off to form an independent public company in October 2021, Wolfspeed traces its roots to the mid-1980s when it pioneered the commercial use of wide-bandgap semiconductor technology.