Susquehanna Lowers Wolfspeed (NYSE:WOLF) Price Target to $23.00

Wolfspeed (NYSE:WOLF) had its price target lowered by Susquehanna from $25.00 to $23.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. TD Cowen cut shares of Wolfspeed from a buy rating to a hold rating and decreased their price objective for the company from $40.00 to $25.00 in a report on Thursday. Roth Mkm reaffirmed a buy rating and set a $50.00 price target on shares of Wolfspeed in a research note on Tuesday, April 30th. William Blair downgraded Wolfspeed from an outperform rating to a market perform rating in a research note on Thursday. Wells Fargo & Company reaffirmed an equal weight rating and set a $30.00 target price (down previously from $55.00) on shares of Wolfspeed in a research note on Wednesday, April 3rd. Finally, 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 report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $37.27.

Wolfspeed Stock Performance

WOLF stock opened at $25.33 on Thursday. The company has a 50-day simple moving average of $26.61 and a 200 day simple moving average of $32.01. The company has a market capitalization of $3.19 billion, a P/E ratio of -3.92 and a beta of 1.64. The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of 5.55. Wolfspeed has a fifty-two week low of $20.63 and a fifty-two week high of $70.42.

Institutional Trading of Wolfspeed

A number of hedge funds have recently modified their holdings of WOLF. TFO Wealth Partners LLC raised its position in Wolfspeed by 57,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 575 shares of the company’s stock valued at $25,000 after buying an additional 574 shares during the period. Independence Bank of Kentucky increased its holdings in shares of Wolfspeed by 97.0% in the 4th quarter. Independence Bank of Kentucky now owns 711 shares of the company’s stock valued at $31,000 after purchasing an additional 350 shares during the period. Fifth Third Bancorp lifted its position in shares of Wolfspeed by 56.9% in the first quarter. Fifth Third Bancorp now owns 1,246 shares of the company’s stock worth $37,000 after purchasing an additional 452 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Wolfspeed during the fourth quarter worth approximately $48,000. Finally, GAMMA Investing LLC purchased a new position in Wolfspeed during the fourth quarter valued at approximately $56,000.

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.